Wali Ejaz Nekokara is a graduate of School of Politics and International Relations at Quaid-i-Azam Universtiy, Islamabad.
This paper is a bid to explore the Economic development in Musharraf era and to know about the effectiveness of economic reforms Musharraf administration undertook to grapple with the economic challenges. Another important question that is tried to address in this research is to whether the economic growth in Musharraf era was myth or reality? Mixed method is applied in which qualitative and quantitative data is used. This research has empirically proved that the Musharraf era’s economic development was a reality. However, US aid helped Pakistan’s economy to keep pace; it was not the cornerstone of Economic growth. US aid was a one side of the coin and a minor facet of economic development, but actual contributor was governance including policies, structural reforms, comparatively strong institutions, and stabilization of macroeconomics.