Some Suitable Strategies of Economic Development for Developing Countries like Pakistan

Abstract

The bitter fact of the world is that mostly people are living in poverty especially in the developing countries. This paper presents some effective policies and strategies for the rehabilitation of poor inhabitants of developing world. The development and prosperity of developing countries depends on the economic condition of their inhabitants. In developing countries, mostly people are engaged with agricultural sector or with labor sector. Due to their low incomes, per capita of developing countries remain low. But by following some strategies and policies this condition may be changed. Furthermore, export of costly products is also hindrances in the way of achieving progress for developing countries. By solving brain drain, lessening their industrial imports and increasing their exports of industrial goods and increasing literacy rate are some suitable strategies discussed. But despite of all policies and strategies, the infrastructure and increasing literacy among the inhabitants of developing countries and the under developed world are also crucial for improving their per capita income and the standard of living. Without improving the standard of living of the under developed world, crimes, diseases and other wrong deeds cannot be decreased until the problem of hunger and ignorance is not solved.