PAKISTAN RICH IN NATURAL RESOURCES BUT POOR IN THEIR MANAGEMENT

Pakistan is one of the richest countries in the world in terms of natural resources be due to several, both chronic and acute, flaws which have led to poor governance of country these have not been properly exploited due to poor management. This dismayed situation inception except some brief spells of economic prosperity. Prevalent political rivalry and worsening law and order and rampant corruption have catalyzed the situation to resource devske impasse. Contrary to economic potential of its natural resources, Pakistan is a depending on agriculture, to name a few challenges.

However, the daunting challenges and the mounting aid and debt, it is facing deficit in trade, acute energy crisis to run industry, and water pressure caused due to awareness of civil society are increasingly influencing the political ed wealth of the country for its self sufficiency and viable economic development. It is suffice to making. Eventually, there is sign of hope for devising effective strategy to exploit the natural the proper exploitation of this wealth would lead to the prosperity of this nation constitutes Natural resources.

These occur naturally within environments characterised by am Before discussing what natural resources Pakistan possesses, it is important to understand biodiversity and biodiversity existent in various ecosystems. Some resources like water agriculture are essential for survival of inhabitants while others like energy and minerals secondary in nature but essential for economic development. However, efficient management of the resources is vital to achieve prosperity of nation. Natural resource management is a discipline with It is interrelated with the concept of sustainable development. Pakistan is blessed with huge quania particular focus on how management affects the quality of life for both present and future generation of resources but lags in management.

Pakistan is affluent in the natural resources. It has enormous energy surplus resource potential of bre Being situated at one of the best geographic and nonstrategic locations on the map of world renewable and nonrenewable, which is greater than that of oil rich countries of Gulf. Among the world’s 200 plus countries it has the second largest salt mines, second largest coal reserves, fifth largest copper and gold reserves, seventh largest wheat and rice production capacity. It is the sixth most populous country in the world having large share of young population. Had these resources been properly managed, this country would have been one of the richest economies of world.

The detailed such great potential has been unstrapped management.more than 436.2 million barrels of oil, according to CIA World Fact Book, and 31.3 trillion cubic feet There are plenty of nonrenewable energy resources like oil, gas and coal in Pakistan. It has of proven gas reserves. The current oil production is 65,997 barrels per day while gas production is 4 billion cubic feet per day. Though it is not enough to meet the needs, it can save considerable outflow of currency. Moreover, there is resource potential of 27 billion Barrels of Oil and 282 TCF of gas reserves in the country.

which has not been explored due to lack of vision and flawed policies.equivalent to 618 billion barrels of crude oil. This is more than twice if we compare it with oil Pakistan has world’s second largest coal deposits of 185 billion tons. These are estimated to be reserves of Saudi Arabia. If it is converted into oil by classification, it will generate 650 barrels of crude oil which at an average market rate of eighty dollars per barrel, would generate 5.2 trillion dollars.