JF-17 Thunder became the first indigenous combat aircraft produced by the country. PTCL was privatized in 2005, and boosted revenue of over $1 billion. The Government of Pakistan since 1947 is trying to develop industries and infrastructure facilities for the growth of industrial sector, yet it has not achieved success to the desired extent. Domestic production of items such as refined sugar steel, fertilizer, cement, etc. Approximately 11.8 million new jobs were created during Musharraf's term from 1999 to 2008, while primary school enrollment rose and the debt-to-GDP ratio dropped from 100 to 55 percent. All revenue collection targets were met on time and allocation for development was increased by about 40 percent. I would like to thank you for such great information. The advanced countries of the world, America, Germany, Great Britain, Japan, and Russia, encouraged industrialization on large scale. During this 11-years period, 8 prime ministers came into power. The common public in British India was subject to frequent famines, had one of the world's lowest life expectancies, suffered from pervasive malnutrition, and was largely illiterate. The overall manufacturing recorded growth of 9.9 percent in 2005-06 and 8.45 percent in 2006-07. This phase started from 1947 ended to 1958. Pakistan's economy recovered significantly during the 1980s via a policy of deregulation, as well as an increased inflow of foreign aid and remittances from expatriate workers. Economic Profile Pakistan 1947-2013 Pakistan got its independence from the British occupation on 14th August 1947. etc., the private sector was shy in investing capital in heavy industries. CAUSES OF INDUSTRIAL BACKWARDNESS IN PAKISTAN The causes of industrial backwardness in Pakistan are varied and complex. has helped in import substitution and has saved a substantial amount of foreign exchange. In contrast to the relative stagnation during the period from Independence to 1959-60 when nothing except nascent large-scale manufacturing grew faster than population, the period from 1959-60 through 1969-70 is one of quite remarkable growth of the Pakistan economy. Exports stagnated and Pakistan lost its market share in a buoyant world trade environment. An estimate of India's pre-colonial economy puts the annual revenue of Emperor Akbar's treasury in 1600 at £17.5 million (in contrast to the entire treasury of Great Britain two hundred years later in 1800, which totaled £16 million). Pakistan rolled out 4G in 2014, aiming to capitalize on over 140 million mobile phones in the country. The share of industrial sector to GNP went up to 11.8 percent from 1960 to 1965. Sixty million of the ninety-f… The Soviet–Afghan War significantly affected the economy of Pakistan, with approximately 1.7 million Afghani refugees moving to Pakistan. In the First Year Plan 1955-60, a sum of Rs. [6], During the Maurya Empire (c. 321–185 BC), there were a number of important changes and developments in the Indian economy. [47][48][49], The IMF loan program concluded in September 2016. Most nationalized units went into loss because decisions were not market-based. Though, during all these years, our beloved country had faced so much ups and downs but still no one can undo it. The government of Pakistan since 1947 is trying hard to develop industries and infrastructure facilities for the growth of industrial sector, yet it has not achieved success to the desired extent. More: Obstacles to Economic Development in Pakistan, Really great job because I made my project it helped me very much I am really greatful to you guys thanks a lot, Nice Information.... but most of the data is copied from the Rawalpindi Chamber of Commerce and Industries annual reports. 233.11 crore (against a target of Rs. In the last over three decades. The annual growth rate in manufacturing sector was 8.2 percent in the 1980s. [8] Economic historians in the 21st century have found that in the 18th century, real wages were falling in India and were "far below European levels. Development Of Pakistan since 1947 to the present BACKGROUND • Creation of Pakistan in 1947 was in many ways a unique event which at the same time was bound to have many difficulties primarily due to a consistently hostile attitude adopted by Indian leadership. Pakistan's economy was quickly revitalized under Ayub Khan, with economic growth averaging 5.82 percent during his eleven years in office from 27 October 1958 to 25 March 1969. harvnb error: no target: CITEREFRobb2004 (, harvnb error: no target: CITEREFPeers2006 (, harvnb error: no target: CITEREFFarnie1979 (. Due to the lack of capital, technical know-how, entrepreneurship. Performance of industrial sector in 1960s. The countries achieved balanced growth in various sectors of the economy. Along with heavy investment in manufacturing, Ayub's policies focused on boosting Pakistan's agricultural sector. When Pakistan became a country on August 14th, 1947, to form the largest Muslim state in the world at that time. THE Indus Valley civilization, the first known permanent and predominantly urban settlement that flourished between 3500 BC to 1800 BC, featured a vibrant economic system. Tax concessions were also offered for investment in less-developed areas. Mughal India was now the world's largest economy, responsible for almost a quarter of global production, as well as a sophisticated customs and taxation system within the empire. Since 1947 till now Pakistan has done remarkable development which has positively lead it to the brighter and prosper future. Different Phases of Industrial Development in Pakistan. Industries such as KESC were now under complete government control. 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