BACKGROUNDDespite experiencing extreme economic and political instability, Pakistan has still been unable to break with the ramshackle of its unstable development enigma. Pakistan’s economic indicators over the last seventy-two years have fluctuated widely: the sixties, the eighties, and a significant part of the 2000s registered high growth episodes (over 6.0 per cent), with low growth observed in other periods. In the last twelve years (2008-20), growth averaged 3.25 per cent annually, crossing 5.0 per cent just twice (see Figure 1) Why so much volatility? Why does the economy rudderless and lacking direction?