1. 1.

THE ISLAMIA UNIVERSITY OF BAHAWALPUR PAKISTAN ECONOMY AIMEN AMIN

(142) AMNA ASLAM (146) HASSAN OBAID (154) SEHRISH HASSAN (175) ZESHAN
MAZHAR (179) SHAGUFTA NAWAZ (181)
2. 2. INDUSTRIALIZATION PROCESS IN WHICH A SOCIETY OR COUNTRY (OR WORLD)
TRANSFORMS ITSELF FROM A PRIMARILY AGRICULTURAL SOCIETY INTO ONE
BASED ON THE MANUFACTURING OF GOODS AND SERVICES MANUAL LABOR IS
OFTEN REPLACED BY MECHANIZED MASS PRODUCTION AND CRAFTSMEN ARE
REPLACED BY ASSEMBLY LINES ASSOCIATED WITH THE EUROPEAN INDUSTRIAL
REVOLUTION OF THE LATE EIGHTEENTH AND EARLY NINETEENTH CENTURIES
3. 3. INDUSTRIALIZATION IN PAKISTAN IN 1947, AT THE TIME OF PARTITION, PAKISTAN
HAD NEGLIGIBLE INDUSTRIAL BASE. GOVT. OF PAKISTAN USED EVERY AVAILABLE
RESOURCE FOR THE DEVELOPMENT OF MANUFACTURING SECTOR IN STATEMENT
OF INDUSTRIAL POLICY 1948, IT WAS STATED: THE MOST STRIKING FEATURE OF
PAKISTANS PRESENT ECONOMY IS THE MARKED CONTRAST BETWEEN ITS VAST
NATURAL RESOURCES AND ITS EXTREME INDUSTRIAL BACKWARDNESS
4. 4. INDUSTRIALIZATION PROCESS GROWTH OF INDUSTRIAL SECTOR FROM 1947 TO
1950: WEST PAKISTAN PRODUCED LARGE SHARE OF AGRICULTURE FORESTS,
INDUSTRIALIZATION CONFERENCE WAS CONDUCTED TO PLAN THE
INDUSTRIALIZATION FOR RAPID GROWTH AND DEVELOPMENT IN 1947.
ENTREPRENEURS INVESTED IN THE INDUSTRIES WITH HIGHEST PROFITS
GROWTH OF INDUSTRIAL SECTOR IN 1950S: IN 1952 PIDC (PAKISTAN INDUSTRIAL
DEVELOPMENT COEPORATION) TOOK STEPS, FOR INDUSTRIES WHICH REQUIRED
HIGH INITIAL INVESTMENTS
5. 5. PERFORMANCE OF INDUSTRIAL SECTOR IN 1960S: PERIOD FROM 1960-1970
COVERS TWO PLANS PERIOD, THE SECOND FIVE YEAR PLAN (1960-1965) AND THE
THIRD FIVE YEAR PLAN (1965-1970), SHARE OF INDUSTRIAL SECTOR TO GNP WENT
UP TO 11.8% FROM 1960 TO 1965 PERFORMANCE OF INDUSTRIAL SECTOR FROM
1970S TO ONWARD FROM 1970-77 GROWTH, PRODUCTION AND EXPORTS WERE
DISAPPOINTING, ANNUAL GROWTH RATE FELL TO 2.8%
6. 6. FROM JULY 1977 TO 1980 THE ECONOMY REVISED IN 1989S THE GROWTH
RATE WAS 8.2% IN MANUFACTURING SECTOR, GROWTH RATE FELL TO AN
AVERAGE OF 4.7% IN FIRST HALF AND 2.5% IN SECOND HALF OF 1990S AT THE
TIME OF PARTITION PAKISTAN WAS INDUSTRIALLY BARREN
7. 7. INDUSTRIALIZATION PROCESS IN PAKISTAN IS NOT SMOOTH, FACED SEVERAL
UPHEAVALS AND BARRIERS IN THIS ERA MAJOR SETBACK TO INDUSTRIALIZATION
PROCESS OCCURRED WHEN BHUTTO NATIONALIZED THE INDUSTRIES THIS ACT
CREATE MISTRUST AMONG INDUSTRIALISTS 1977 T0 2004
8. 8. AFTER THAT ZIA ENGAGED HIMSELF IN AFGHANISTAN, AND PAKISTAN FOUGHT
PROXY WAR AGAINST FORMER SOVIET UNION IT BROUGHT DRUG AND
KALASHANKOF CULTURE IN PAKISTAN DUE TO THIS WAR FOREIGN DIRECT
INVESTMENTS REDUCED, PAKISTAN WAS UNABLE TO MAINTAIN ITS PROGRESS
WHICH IT HAD DURING EARLY 60S

9. 9. UNSTABLE GOV.'S DEFAMED PAKISTAN INTERNATIONALLY, DUE TO WHICH

MULTINATIONAL CORPORATIONS (MNCS) DO NOT SHOW INTEREST TOWARDS
INDUSTRY HERE PAKISTANS CURRENCY LOST ITS VALUE DAY BY DAY
DEMOCRACY DERAILED AGAIN IN 1999, AND THEN THE 9/11 INCIDENT WHICH
CHANGED THE COURSE OF HISTORY IN EARLY 2000S PAKISTAN FACED SUICIDE
BOMBINGS, WHICH DIMINISHED THE INVESTORS INTERESTS AROUND THE GLOBE,
IT WAS LIKE A FINAL NAIL IN THE COFFIN
10. 10. THE EVOLVING STRUCTURE OF INDUSTRY
11. 11. IMPORTANCE OF INDUSTRIALIZATION FOR DEVELOPING NATION LIKE PAKISTAN,
INDUSTRY PLAYS SIGNIFICANT ROLE INDUSTRIALIZATION PROVIDES
EMPLOYMENT INDUSTRY RAISE NATIONAL INCOME RAISE IN INCOME, ALSO
RAISE THE LIVING STANDARDS INDUSTRIALIZATION IS CENTRAL TO ECONOMIC
DEVELOPMENT AND IMPROVED PROSPECTS FOR HUMAN BEING.
12. 12. CONCLUSION GOD HELPS THOSE WHO HELP THEMSELVES IF A COUNTRYS
EXPORTS ARE LARGER THAN ITS IMPORTS, THE COUNTRY EXCELS, REVERSE
CASE SPELLS CERTAIN DOOM PAKISTAN FALLS INTO THE LATTER CATEGORY
ONLY HOPE FOR SALVATION FOR PAKISTAN LIES IN ITS INDUSTRIALIZATION,
13. 13. UNLESS PAKISTAN ESTABLISHES DOMESTIC INDUSTRIES WHICH GENERATE
REVENUE AND REDUCE DEPENDENCE ON IMPORTS, THERE IS NO HOPE FOR A
BETTER, BRIGHTER FUTURE. LONG LIVE PAKISTAN.
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