Will Financial Markets in Pakistan Ever Develop?

Financial markets in today’s world are important to economic growth. But, in the case of Pakistan, financial markets are nonexistent. And a few financial institutions which exist in the country are in shambles. Also, there is no financial culture in this country. A non-banking sector in Pakistan is either non-existent or really small. For instance, development banks, investment banks, micro-finance banks, etc. are a small portion of the large economy. On the other hand, the government and policy makers have no stakes to develop or reform the existing financial sector of the country. Parliamentarians are not interested. They don’t have any knowledge of finance.