Like many other Asian countries lacking linkages with foreign capital markets, Pakistan was spared from suffering major negative effects of the global crisis, which here was “just another crisis”, adding to the 2007-2008 food crisis and the structural socio-economic instability. Secondary impacts were nevertheless felt in the infrastructure and the private sector development.
Recent Government macroeconomic measures aimed at keeping inflation rates under control and strengthening foreign exchange reserves are now in place. Social safety nets have been established in order to increase the purchasing power of the poor.
For more information on the job crisis and recovery in Pakistan, please visit the ILO Job Crisis Observatory