I am surprised to see you forgotto mention Musharraf’s name in your article but I don’t.take a note of the following foryour future references:-

Musharraf’s Economic Legacy
EmailWritten by RiazHaq on Aug-19-08 7:30pm
From: southasiainvestor.blogspot.com

Regardless of criticism of President Musharraf’s politics or personality, there is general agreement among independent economists that President Musharraf left Pakistan’s economy in much shape than he found it when he seized power in 1999.

Here are some of the key highlights of the results of Musharraf era economy:

1. Pakistan’s tax base and government revenue collection more than doubled from about Rs. 500b to over Rs. 1 trillion.

2. Pakistan’s GDP more than doubled to $144b since 1999.

3. Most recent figures in 2007 indicate that Pakistan’s total debt stands at 56% of GDP, significantly lower than the 99% of GDP in 1999.

4. Pakistan attracted over $5 billion in foreign direct investment in the 2006-07 fiscal year, ten times the figure of 2000-01.

5. In spite of the election-related political turmoil, Pakistan’s economy maintained its momentum in 2007, growing by 7%, slightly more than the 6.6% for 2006. Agricultural sector growth recovered sharply, from 1.6% in 2006 to 5% in 2007, while the manufacturing sector growth continued at 8.4% in 2007, slightly more moderate than the 10% for 2006. Services grew at 8% in 2007, down from 9.6% in 2006.

6. The strong consumer demand in Pakistan drove large investments in real estate, construction, communications, automobile manufacturing, banking and various consumer goods. Millions of new jobs were created. By all accounts, the ranks of the middle class swelled in Pakistan during Shaukat Aziz’s term in office. According to Tara Vishwanath, the World Bank’s lead economist for South Asia, about 5% of Pakistanis moved from the poor to the middle class in three years from 2001-2004, the most recent figures available.

7. The Karachi stock market surged ten fold from 2001 to 2007.

The one sore spot that sticks out in President Musharraf’s and Shaukat Aziz’s record is their lack of attention to the rising energy needs of the country. Appropriate planning should have comprehended new power plants to support growth forecasts. There were other mistakes as well, such as the decision to export wheat in 2007 that created shortages and price hikes that helped bring down the PML (Q) government and ultimately led to President Musharraf’s departure.

Since the takeover by the PPP-PML(N) coalition, there has been a sharp decline in Pakistan’s economy. Summing up the current economic situation,the Economist magazine in its June 12 issue says as follows:” (The current) macroeconomic disarray will be familiar to the coalition government led by the Pakistan People’s Party of Asif Zardari, and to Nawaz Sharif, whose party provides it “outside support”. Before Mr Sharif was ousted in 1999, the two parties had presided over a decade of corruption and mismanagement. But since then, as the IMF remarked in a report in January, there has been a transformation. Pakistan attracted over $5 billion in foreign direct investment in the 2006-07 fiscal year, ten times the figure of 2000-01. The government’s debt fell from 68% of GDP in 2003-04 to less than 55% in 2006-07, and its foreign-exchange reserves reached $16.4 billion as recently as in October.”

In addition to the improved economy, President Musharraf enabled proliferation of independent radio and television stations which ultimately led to his downfall. With Musharraf out, the independent media will, hopefully, continue to play a significant role in holding the new rulers accountable to the people.