The study involves a brief yet insightful discussion on the concept of globalization, covering different aspects of globalization. The focal point is to consider that globalization is not a new phenomenon. It further explains that globalization has taken new dimensions along with the impact that it has on the economy and society of Pakistan. The impact of globalization on every economy differs depending on its social, political and economic dimensions. The paper emphasizes on the fact that although Pakistan achieved certain gains from globalization, but the adverse effects outweighs the positive effects in certain areas. It clearly mentions how globalization has resulted in a degradation of moral norms and values of Pakistani society and how has globalization affected economic growth in Pakistan with a major focus has on trade. It concludes with how these challenges can be overcome by holding governments in charge of effective policy making.