Open Access The Musharraf Paradox: The Failure of an Economic Success Story

Abstract: Despite some of the more rapid rates of economic growth seen in Pakistan in years, the government of Paki-stan’s Pervez Musharraf was soundly rejected by voters in early 2008. To the surprise of many observers, it was the econ-omy, rather than increased violence, the war on terrorism, or the authoritarian nature of the regime that was the prime concern of electorate. It appears that much of the macro-economic successes did not trickle down very far – increased in-come inequalities and regional disparities, rising inflation only added to the electorate’s frustrations. After examining the country’s pattern of growth and the results of Musharraf’s economic programs, a more fundamental criticism can be made – the economic development model adopted over the last eight years is unlikely to have laid a solid foundation for further growth