Democratic Regimes and Economic Performance of Pakistan

Saima Nazeer Dana (M.Phil. Scholar)

Applied Economics Research Centre (AERC), University of Karachi

Abstract
Pakistan’s current economic performance is declining due to the persistent devaluation of the
rupee, surging current account deficit, double-digit inflation rate, and delay in signing of IMF
deal. The situation has gone worst after the No-Confidence motion in April 2022 against former
Prime Minister Imran Khan of Pakistan Tehreek-e-Insaaf (PTI). Pakistan has always survived
from the time of turmoil from its birth to the inception of the Parliamentary form of government
and then from autocratic governments to stable democratic governments. The consistent
democratic government system is prevailing in Pakistan from 2008 to date. From 2008 to 2013,
first time in the history of the country, the elected government of the Pakistan People’s Party
completed its 5-years tenure. From 2013 to 2018, the Pakistan Muslim League - N government
completed its 5-year term, and in 2018 the government of PTI came into power after the election
but failed to complete its tenure. During these fourteen years country has faced various severe
economic and political issues. Pakistan has never been able to achieve certainty and harmony in
the long term in its history. In the current scenario, policymakers, economists, and the general
public are waiting for an upcoming election. They also wish to see stability in the economic and
political situation of the country. There will be tough competition among PPP, PMLN and PTI in
the forthcoming election because the public has seen the performance of these major political
parties in the last fourteen years. This paper will explore the economic performance of major
macroeconomic indicators of Pakistan and the policies adopted in three different democratic
regimes from 2008 to 2021.

Keywords: Political Economy, Economic Performance, Democratic Regimes