Man proposes and God disposes. If the country did not have to face four different shocks the stabilization would have been completed in two years instead of three. The prolonged drought for last three years dwindled irrigation water supplies and affected our main economic sector i.e. agriculture.
September 11, 2001 made Pakistan the front line state in the war against terrorism and inflicted a lot of damage to the economy including cancellation of export orders. Border tensions with India and mobilization of troops raised our defence expenditure which the Government had frozen in nominal terms since 1999-2000.