Rise of Pak­istan not far off, says Mor­gan Stan­ley

The Financial Daily - - CONTINUATIONS -

TFD Mon­i­tor­ing KARACHI: Pak­istan is lo­cated in a re­gion that will bring ma­jor changes in the world econ­omy in com­ing decades pri­mar­ily due to its de­mo­graph­ics.

With over 100 mil­lion peo­ple be­low the age of 30 as­pir­ing to change their lives, the rise of Pak­istan is just a mat­ter of time, Mor­gan Stan­ley Chief In­vest­ment Strate­gist David M Darst said on Tues­day.

"De­mo­graph­ics will play a ma­jor role in com­ing decades. Pak­istan is among those nine coun­tries in Asia that will add an­other China in the next 35 years and the im­pact of this change will be phe­nom­e­nal on the world econ­omy," he said while giv­ing a lec­ture on "The World Eco­nomic En­vi­ron­ment: Where's the Global Cap­i­tal Go­ing".

It was part of a spe­cial se­ries of lec­tures that was or­gan­ised by The Aga Khan Univer­sity here at its au­di­to­rium.

With a young pop­u­la­tion of an av­er­age age of 22 years, "I be­lieve the op­por­tu­ni­ties that the young en­trepreneurs from Pak­istan have are go­ing to make an ex­cep­tional con­tri­bu­tion to the econ­omy of the re­gion," he added.

Darst, who is the au­thor of 11 books and has a PhD in eco­nom­ics from Yale, said it is wrong to be­lieve that Pak­istan is lag­ging be­hind due to its prox­im­ity with Afghanistan, Iran and In­dia. "In fact, I be­lieve Pak­istan is in the cen­tre

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