Economic challanges to Pakistan
Assignment-Economical challenges to Pakistan
Submitted to:Ma’m Asiya
Submitted by: Syeda Zainab Kubra
Roll no:11021502-012
Course Title:Pak Studies Discipline:B.S(hons)English
Semester:6th
Date:4/17/2014
GCW University,Sialkot.
A Historical Evaluation of Economic Condition of Pakistan
Laying the Foundations:1947-1958 Features
Predominantly agrarian, undeveloped and newly independent nation
Little industry, few services and no infrastructure
Adverse international conditions and precarious domestic situation
Attempts of bureaucracy to keep Pakistan on its feet
Lack of capital
Trade surplus
The Decade of Development:1958-1968
Achievements
Considerable economic growth and development
Significant leaps were made in industrial and agriculture production
Model Capitalist Economy
High growth rate in manufacturing sector
Increase in exports
Progress in agriculture sector
Policy Failures
Increased disparities in incomes
Concentration of economic prosperity
Social sectors were neglected
Little or no increase in real wages
Trade was highly controlled and closed
Distortion of local markets because of overvaluation of exchange rate
The bad Luck Years:1971-1977
Achievements
Foundations for future growth and development
Basic industries were setup
Base for a capital goods industry
Middle East boom
Illiberal economic policies
Foreign exchange earnings doubled because of devaluation
Failures
Events beyond control affected economic program of this era
Downward trend in growth
Nationalization
Cotton crops failure and floods affected Pakistan’s exports
Crisis in balance of payments
Devaluation of Pakistani rupee
The second Military Government 1977-1988
Achievements
Liberal economic policies
Higher industrial growth
Second economic revolution because of remittances from the Middle East and aid from
Submitted to:Ma’m Asiya
Submitted by: Syeda Zainab Kubra
Roll no:11021502-012
Course Title:Pak Studies Discipline:B.S(hons)English
Semester:6th
Date:4/17/2014
GCW University,Sialkot.
A Historical Evaluation of Economic Condition of Pakistan
Laying the Foundations:1947-1958 Features
Predominantly agrarian, undeveloped and newly independent nation
Little industry, few services and no infrastructure
Adverse international conditions and precarious domestic situation
Attempts of bureaucracy to keep Pakistan on its feet
Lack of capital
Trade surplus
The Decade of Development:1958-1968
Achievements
Considerable economic growth and development
Significant leaps were made in industrial and agriculture production
Model Capitalist Economy
High growth rate in manufacturing sector
Increase in exports
Progress in agriculture sector
Policy Failures
Increased disparities in incomes
Concentration of economic prosperity
Social sectors were neglected
Little or no increase in real wages
Trade was highly controlled and closed
Distortion of local markets because of overvaluation of exchange rate
The bad Luck Years:1971-1977
Achievements
Foundations for future growth and development
Basic industries were setup
Base for a capital goods industry
Middle East boom
Illiberal economic policies
Foreign exchange earnings doubled because of devaluation
Failures
Events beyond control affected economic program of this era
Downward trend in growth
Nationalization
Cotton crops failure and floods affected Pakistan’s exports
Crisis in balance of payments
Devaluation of Pakistani rupee
The second Military Government 1977-1988
Achievements
Liberal economic policies
Higher industrial growth
Second economic revolution because of remittances from the Middle East and aid from
Bibliography: CIPEGLOBAL.COM Google.com Wikipedia.com Sparknotes.com National Studies.com NDTV.com BookZa.org Jstor.org