Perhaps not...is the notion depicted by Economic Freedom Index 2015 - published annually by the Wall Street Journal and the Heritage Foundation and as painful as it may sound, Pakistan is classified as a mostly unfree country in the index, resting below the worldly and regional averages.
The index revolves around four broad policy areas: rule of law, government size, regulatory efficiency and open market, whereas the specific categories consist of property rights, freedom from corruption, fiscal freedom, government spending, business freedom, labour freedom, monetary freedom, trade freedom, investment freedom, and financial freedom.
From a group of 186 countries in the index, Pakistan stands at the 121st position securing a score of 55.6. At this score, the country stands at par with Nigeria and Kenya. Though it may be a bad finish on an extensive list of 186 countries, heartening is the fact that Pakistan stands relatively better when compared to its regional counterparts mainly India, Bangladesh and China having scores of 54.6, 53.9 and 52.7 respectively. Not to disregard, the score has moved up the ladder, rising by 0.5 points since 2011.
Also in the Asia Pacific region, the picture is not so rosy. Out of 42 countries in the region, the country is ranked at the 25th place. Thanks to some level of independence on the business, trade and fiscal fronts. Besides, although freedom from corruption has undergone some level of improvement (+5.3 over previous year), it is still considered to be hampering the efficiency of the broader justice system. The case is further aggravated with political interferences, pressures and delays. Take for instance the woes of drug pricing policy and the delays in implementation of textile policy - the classic examples government's non-seriousness to address industrial concerns.
Further, the inflaming security concerns have not gone unnoticed by the think-tank, highlighting it as a deterrent to foreign direct investments. And with the country falling in the hands of the terrorists, security conditions should by all means top the list of government's priorities!
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