Nationalization
http://www.bhutto.org/reforms.php
The Nationalization process in Pakistan[1] (or historically simply regarded as the "Nationalization in Pakistan), was a policy measure programme in the economic history of Pakistan, first introduced, promulgated and implemented by people-elected Prime Minister Zulfikar Ali Bhutto and the Pakistan Peoples Party in order to lay foundation of socialist economics reforms to improve the growth of national economy of Pakistan.[2] Since 1950s, the country had a speedy industrialization and became an industrial paradise in Asia.[3] But, as time progresses, the labour trade unions and labor-working class had strained relations with the industrial business oligarch classes, completely neglected the work conditions and failed to provide healthy environment to the workers class in the industries.[4]
The nationalization programme began on January 2, 1972 in a vision to promote economic democracy, liberalization, and a mainstream initial goal to put Pakistan in the line of state of progressivism.[3] Ended effectively in 1977, the nationalization programme was again put forward by Prime minister Benazir Bhutto in 1996,[5] and as of current Prime minister Yousaf Raza Gillani in 2012 who activated the programme in order to bring three major megacorporations (Steel Mills, Railways and International Airlines) under the government ownership to in an attempt to improve its structure and to alleviate its profitable process.[6]
Despite its success in formative years, such policy measure programmes met with extreme level of spontaneous demonstration, international and national opposition that left the disastrous effects on Pakistan's national economy[7] until it was replaced with the privatization programme set forward by Prime minsiters Nawaz Sharif in 1990 until privatization programme's final execution in 2008 by Shaukat Aziz.[8]
Nationalization phase (1971-1977)
Zulfikar Ali Bhutto (1928–1979) became President of Pakistan (1971–74) on
The Nationalization process in Pakistan[1] (or historically simply regarded as the "Nationalization in Pakistan), was a policy measure programme in the economic history of Pakistan, first introduced, promulgated and implemented by people-elected Prime Minister Zulfikar Ali Bhutto and the Pakistan Peoples Party in order to lay foundation of socialist economics reforms to improve the growth of national economy of Pakistan.[2] Since 1950s, the country had a speedy industrialization and became an industrial paradise in Asia.[3] But, as time progresses, the labour trade unions and labor-working class had strained relations with the industrial business oligarch classes, completely neglected the work conditions and failed to provide healthy environment to the workers class in the industries.[4]
The nationalization programme began on January 2, 1972 in a vision to promote economic democracy, liberalization, and a mainstream initial goal to put Pakistan in the line of state of progressivism.[3] Ended effectively in 1977, the nationalization programme was again put forward by Prime minister Benazir Bhutto in 1996,[5] and as of current Prime minister Yousaf Raza Gillani in 2012 who activated the programme in order to bring three major megacorporations (Steel Mills, Railways and International Airlines) under the government ownership to in an attempt to improve its structure and to alleviate its profitable process.[6]
Despite its success in formative years, such policy measure programmes met with extreme level of spontaneous demonstration, international and national opposition that left the disastrous effects on Pakistan's national economy[7] until it was replaced with the privatization programme set forward by Prime minsiters Nawaz Sharif in 1990 until privatization programme's final execution in 2008 by Shaukat Aziz.[8]
Nationalization phase (1971-1977)
Zulfikar Ali Bhutto (1928–1979) became President of Pakistan (1971–74) on