Ok. Let's first identify problems.
Remember that economy is inter-connected with good governance, political stability, rule of law and literacy.
Here are the key problems Pakistan face today in my opinion.
1) Poor System of Governance
i) This Parliamentary democracy is nothing but a sham. A hogwash. Even ministers can't be appointed other than the politicians elected in assemblies. Which means no experts in their field can ever become a minister. While politicians are complete morons.
ii)18th amendment. A sinister amendment done to constitution on orders of outside powers to weaken the federation and give more funds to provinces. Which ends up in hands of politicians by the way.
2) Decadent Judicial System
19th century's Anglo-Saxon colonial laws designed by British especially to persecute and oppress the weak majority while rich elite can never be touched. Which means corruption, corruption and only corruption. People often say that Pakistan's biggest problem is corruption. It's not actually. It is just a symptom. The real disease of our country is our rotten judicial system that can never touch the elite (politicians, Judges, lawyers, bureaucrats, generals, businessman and others)
3) Low Quality Education
i) The situation of education in our country is downright pathetic. Universities are handing out degrees like pamphlets. Thousands of students are graduating every year from our universities. But they don't have the required skills to work in industries.
There needs to be skill based education with government supporting them to become entrepreneurs and do innovation.
ii)Another problem is that they are never taught to think out of box. Result is there is no innovation in our country. Also same reason we aren't producing any high caliber intellectuals, academics and scientists.
4) Corrupt Police system
Again Pakistan penal code (1860), Code of criminal Procedure(1898) designed by British. Rotten system that needs to be removed ASAP.
5) Tax Reforms
i) Tax reforms are badly needed. The government has imposed so much taxes on people (indirect taxes) on things of everyday life like food, clothing, medicines, electricity, gas etc. But still it says that people don't give taxes (direct taxes). Utter nonsense.
ii) Pakistan right now is on 147th number on the list of ease of doing business countries (World Bank).
Taxes needs to be reduced for businesses and foreign investment needs to be encouraged. There needs to be major reforms taken by the government to reduce taxes.
Here are the problems I have identified. If these problems are solved, then Pakistan can become economically stronger. What do you guys think.
@Mangus Ortus Novem @zulu