Question

What are four main reasons as to why despite having and abundance of minerals and natural resources of Pakistan

Answer 1

Pakistan is rich in natural resources.

Explanation:

• From the day of its creation, it has faced many external and internal threats.
• The GDP of Pakistan could never go up and it remained to fluctuate.
• The government does not invest more in the assets of the country.
• Our forefathers did not establish a strong and stable political system which has devastated this country's economic growth.

Answer 2

The crisis was catalyzed by a prevalent political rivalry and chaos, weakening law and order and widespread corruption. Despite its natural resources' economic capacity, Pakistan is vulnerable to international assistance and debt, is facing a trade gap, severe industry energy shortages, and agriculture water tension, among others

Explanation:

• Lack of effective resource mapping in the country. Nations like Pakistan have abundant resources however, they do not have the proper technology to convert these resources that could be used. Natural endowments become resources when their actual form has been transformed. In certain cases technology & tools are required to utilise natural resources in the best possible way. Hence, most resources are "potential resources", that is, resources which cannot be used though they are useful for mankind's need
• Human capital is needed to accelerate the economic growth of a nation. For resources to be converted to useful means, human capital is needed. Resources are a function of human activities since they transform material available in the environment into resources and utilise them. However in Pakistan is one amongst the nations that has poor literacy rate. This is due to population growth, poverty, low allocations, feudal lords, male-dominated society, lack of school in rural areas. Investment to raise the literacy rate & for skill development is essential for the growth process of the nation
• Pakistan is one of the wealthiest natural resource nations in the world, however one of the weakest in its administration. The nation is full of valuable resources like oil, crops, minerals, people, and geography, however these have not been used effectively because of bad management, unlike the developing nations. The dismay of the circumstance is due to many systemic and acute deficiencies that, since its inception, have contributed to weak governance of the region, with the exception of intermittent economic success.
• The primary source of this tragedy was political turmoil. No political party has been granted ample time to develop in Pakistan after independence. Foreign involvement in elections & political rivalry are the main factors of this nation's brief past. The misuse of natural resources became inevitable owing to this contradiction. In fact, given the abundance of ample resources, the weak strategies of subsequent governments have created tremendous problems. The nation is heavily dependent on foreign assistance &debt, which has a detrimental effect on its international reputation.
• Another factor is high level of corruption. Large reserves of natural resources can bring corruption & contraction if a nation’s wider economy does not benefit. There is potential to realise broad-based & sustainable gains, but the issues such as corruption has led to under development of natural resources

Thus, the reasons that have contributed to inadequate natural resource management include political uncertainty, political indecision, lack of direction  & preparation, bureaucratic bottlenecks,  flawed policies, corruption, lack of the growth of human capital, deteriorating the situation in law & order. This has not only contributed to weak natural resource conservation, but also poor nation governance.

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