| FThe
history of Pakistan-which for the period preceding
the nation's founding in 1947,is intermittently
shared with those of Afghanistan, India, and Iran-traces
back to the beginnings of human life in South Asia.
Spanning the western expanse of the Indian subcontinent
and the eastern borderlands of the Iranian plateau,
the region of present-day Pakistan served both as
the fertile ground of some of South Asia's major
civilizations and as the subcontinent's gateway
to the Middle East and Central Asia. Pakistan is
home to some of the most important sites of archaeology,
including the earliest palaeolithic hominid site
in South Asia in the Soan River valley. Situated
on the first coastal migration route of anatomically
modern Homo sapiens out of Africa, the region was
inhabited early by modern humans.The 9,000-year
history of village life in South Asia goes back
to the Neolithic (7000-4300 BCE) site of Mehrgarh
in Pakistan, and the 5,000-year history of urban
civilization in South Asia to the various sites
of the Indus Valley Civilization, including Mohenjo
Daro and Harappa. The ensuing millennia saw the
region of present-day Pakistan absorb many influences-represented
among others in the Vedic-Buddhist site of Taxila,
the Greco-Buddhist site of Takht-i-Bahi, the 14th-century
Islamic-Sindhi monuments of Thatta, and the 17th-century
Mughal monuments of Lahore. From the late 18th century,
the region was gradually appropriated by the British
East India Company-resulting in 90 years of direct
British rule, and ending with the creation of Pakistan
in 1947, through the efforts, among others, of its
future national poet Allama Iqbal and its founder,
Muhammad Ali Jinnah. Since then, the country has
experienced both civilian-democratic and military
rule, resulting in periods of significant economic
and military growth as well those of instability;
significant during the latter, was the secession,
in 1971, of East Pakistan as the new nation of Bangladesh.
Civilian rule returned after
the war when General Yahya Khan handed over power
to Zulfikar Ali Bhutto. In 1972, Pakistani intelligence
learned that India was close to developing a nuclear
bomb, and in response, Bhutto formed a group of
engineers and scientists, headed by nuclear scientist
Abdus Salam - who later won the Nobel Prize in
Physics -to develop nuclear devices.
Pakistan had been a US ally
for much of the Cold War, from the 1950s and as
a member of CENTO and SEATO. The Soviet invasion
of Afghanistan renewed and deepened the US-Pakistan
alliance. The Reagan administration in the United
States helped supply and finance an anti-Soviet
insurgency in Afghanistan, using Pakistan as a
conduit. In retaliation, the KHAD, under Afghan
leader Mohammad Najibullah, carried out (according
to the Mitrokhin archives and other sources) a
large number of terrorist operations against Pakistan,
which also suffered from an influx of weaponry
and drugs from Afghanistan. In the 1980s, as the
front-line state in the anti-Soviet struggle,
Pakistan received substantial aid from the United
States and took in millions of Afghan (mostly
Pashtun) refugees fleeing the Soviet occupation.
The influx of so many refugees - believed to be
the largest refugee population in the world -
had a heavy impact on Pakistan and its effects
continue to this day. From 1988 to 1999, Pakistan
was ruled by civilian governments, alternately
headed by Benazir Bhutto and Nawaz Sharif, who
were each elected twice and removed from office
on charges of corruption. Economic growth declined
towards the end of this period, hurt by the Asian
financial crisis, and economic sanctions imposed
on Pakistan after its first tests of nuclear devices
in 1998. On May 12, 2000 the Supreme Court of
Pakistan ordered Pervez Musharraf to hold general
elections by October 12, 2002. In an attempt to
legitimize his presidency and assure its continuance
after the impending elections, he held a national
referendum on April 30, 2002, which extended his
presidential term to a period ending five years
after the October elections. General Musharraf
continues to hold post of the army chief. In keeping
with its rapid economic development in recent
years, Pakistan registered an economic growth
rate of 7 percent in the financial year 2006-07,
the fourth consecutive year of seven percent growth.
In its June 2006 Economic Survey global finance
giant Morgan Stanley listed Pakistan on its list
of major emerging markets in the world economy,
placing it on a list of 25 countries displaying
continued moderate to strong growth over a sustained
period of time. The report noted "its economy
has been growing quickly in recent periods and
corporate direct investors have taken notice".
Concurrently, highlighting the strides made on
the economic front in recent times, Moody's Investors
Service in December 2006 upgraded Pakistan's credit
rating from B2 to B1, noting a "positive
outlook". In late March 2007, the Asian Development
Bank "Outlook 2007" report predicted
that strong growth would continue in 2007 and
2008 with growth rates of 6.5 to 7 percent, with
manufacturing, exports and consumer expenditure
leading the way. Further progress was highlighted
by news that the FDI for FY 2006/7 would touch
$7 billion, eclipsing the targeted $4 billion.
Telecoms, real estate and energy are major industries
for FDI.
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