Pakistan is on track. Against the backdrop of its long fight against terrorism over the past 15 years, Pakistan has achieved an economic milestone — gaining the status of an “emerging market” in MSCI’s latest review. MSCI will add Pakistan to the Emerging Market Index effective May 31, at the market close, with a weight of just 0.2 percent. Experts expect global funds to come pouring into Pakistan’s stock markets as a result.
The emerging market status is something unusual, as it was achieved in a crisis-ridden situation rather than under sustained political stability. Pakistan’s stock market has made history, giving a thrilling lesson to global investors and businesspeople who are wondering why money is flowing into this country despite upheaval, lack of stability, and other negative factors. Indeed, economic growth is stabilizing Pakistan’s political atmosphere in Karachi, Balochistan, and the Federally Administered Tribal Areas (FATA).