Pakistan's natural resources range from natural gas reserves, vast land, coal, petroleum, copper, salt and iron ore among others. It has the second largest salt mines in the world, as well as world’s fifth largest gold mines. It is one of the largest producers of wheat in the world and is the seventh country in the world with nuclear power.
Just like other developing economies, Pakistan pegs economic development on natural resources.
According to Pakistan Insider, Pakistan’s primary industries include (but are not limited to) textiles, pharmaceuticals, rice, cotton and sugarcane. The country exports textiles, sports goods, rice, rugs and chemicals just to mention a few.
In terms of natural resources, Pakistan is one of the richest countries in the world but also one of the poorest countries in terms of resource management, states World Times magazine. The country’s resources have not been properly managed partly due to corruption and other vices. Instability, political rivalry and ineffective law and order have also played a hand in poor management of resources in Pakistan. Despite its economic potential, Pakistan still relies heavily on foreign aid and debts to finance development. On the same note, the country faces serious trade deficit, water shortages and prevalent energy crises.