Pakistan, since its independence in 1947, has faced tumultuous years in the first four decades since. Despite the many challenges, both internal and external, the country was able to register a 6 per cent average annual growth rate during the first forty years of its existence. It was ahead of India and Bangladesh in all economic and social indicators. Since 1990, the country has fallen behind its neighbouring countries and has had a decline in the growth rate. This book attempts to examine the reasons behind this slowdown and the volatile and inequitable growth of the last twenty-five years.