I hope that the candid discussion today will enlighten many of us, clarify a number of issues and debunk some of the popular myths surrounding Islam and Pakistan’s economic direction. I have chosen to focus my remarks today on the one aspect of Pakistan and Islam that is, in my view, hardly discussed, least known but creates a lot of jitters in the U.S.
This issue has received increased importance since the elections of October 2002 when an alliance of religious parties won power in the province of NWFP. I propose to walk you through the past and current trends of Pakistani economy, sketch the future direction and offer my own assessment of how the adoption of an Islamic economy, if it indeed happens, will affect Pakistan’s future.