Business cycle of pakistan 1960 1970

They emphasised that the Muslims of South Asia were a different cultural entity compared to the Hindu majority of the region. After successfully achieving his goal of creating this Muslim nation-state PakistanJinnah described it as a Muslim-majority state where the Muslims could freely live according to their cultural ethos, but where men and women of other religions too, were free to practice their respective faiths. Muslims who were a minority in India had now become a majority in Pakistan.

Business cycle of pakistan 1960 1970

Since emergence of the state on the political background of the world, economically, it has experienced a bumpy ride all together.

Many reasons for this are given by the experts and arguments are presented as to how the situation can be remedied but situation has gradually worsened over the years. Economic and social outcomes in Pakistan over the last sixty years are a mixture of paradoxes. Pakistani economy Business cycle of pakistan 1960 1970 at a fairly impressive rate of 6 percent per year through the first four decades of the nation's existence.

A feat achieved by a very few nations. This healthy economic performance was maintained through several wars and successive civilian and military governments in s, 60s, 70s and 80s until the decade of s, now appropriately remembered as the lost decade.

Politically, however, the interplay of religious fundamentalism, sectarianism, ethnic cleavages and regional economic disparities has made the country volatile and unstable. Various East Asian countries that were behind Pakistan in the s have surged far ahead in most economic and social indicators.

Pakistan has thus been unable to realize its potential. South Korea is a prime example of this case. Despite sharing a common historical, cultural and social milieu, Pakistan and India have pursued different paths since independence in Both countries have done reasonably well in improving their economies and reducing absolute poverty levels.

India has, however, emerged as a stable and vibrant democracy while Pakistan has spent half of its post-independence years under military dictatorships and is currently struggling to quell an Islamic insurgency in the northwest part of the country.

The democracy—development nexus appears to be well entrenched in the case of India, while it is faltering in Pakistan. A great deal of recent literature has suggested that China and India are the typical representatives of authoritarian and democratic regimes, but fewer attempts have been made to resolve this puzzle in the case of India and Pakistan, two countries that are more akin to each other and share a common legacy.

Business cycle of pakistan 1960 1970

The Flat Fifties, to Pakistan came into existence as a moth-ridden country at the time of the partition of India. The British-controlled provinces of Punjab and Bengal were each divided into two parts. The physical separation between eastern and western Pakistan, with Indian territory in between, put Pakistan at a serious disadvantage from its inception.

The plan was based on the theory of Cost of Productoin value, and also covered the areas of Trickle-Down economic system. State Bank of Pakistan was established to kick start the economic engine of the nation and major economic infrastructural expansions took place in the process.

Currency war between Pakistan and india was also a highlight of this era which started with the devaluation of pound sterling and refusal of exchange in PKR by indian authrorites in In the midthese relations were restored and trade resumed between the two nations.

This era also marked the start of the Korean War which led to economic bloom the local economy but the growth was retarded by the assassination of Liaqat Ali Khan in October In the plan collapsed althogher due to want of funds.

The plan was initiated unsystematically, inadequate staff and lack of ambition is listed among few of the many causes. Also the shortage of consumer goods like food, clothes, medicines and sharp fall in production due the monsoon floods of and were a decisive force to hinder the progress of the nation.

Thus, in the end, Prime Minister Khawaja Nazimuddin was forced to end the program after sending his request to provide economic assistance from the United States and other friendly counties. InPrime minister Muhammad Ali Bogra again revived the plan and published in After reassessing, the programme was again launched with focusing as highest priority on agricultural development, and the strong emphasis placed on rapidly increasing the developmental effort in East-Pakistan and in the less-developed areas of West Pakistan.

Prime minister Huseyn Suhrawardy of Awami League gave much priority to food development, agriculture and social development in both states.

The concept of Collective farming was introduced by Suhrawardy as part of his agricultural policies and around However, this programme was built entirely in the absence of much essential information and basic statistics. In practice, this plan was not implemented because of its enormous size that lacked the physical and personnel assistance.

The shortage of technical knowledge also devastated the programme. The Awami League's government also had shortage of foreign exchange to execute the plan, and was unable to find outside assistance to fulfill its commitment to the first five-year plans.

The seeds of separation were further sown when the Muslim League lost the provincial elections in East Bengal due to a growing disaffection with the ruling political elite in West Pakistan.

This elite from the Punjab province, instead of coming to grips with the grievances of East Bengal, adopted a confrontational strategy to consolidate their power by merging all four western Pakistan provinces into one province.

Business cycle of pakistan 1960 1970

As a result, East Pakistanis were antagonized when their province, which contained the majority population, was forced to accept parity with newly-formed West Pakistan in the Parliament.

The political atmosphere was too vitiated; political instability was too acute; tensions between the different tiers of the government were so damaging; the challenge of setting up the organs of a new state was so formidable; and the influx of millions of refugees from India was too demanding.

With the help of Harvard advisors, Khan vigorously implemented the Planning Commission on Economic Management and Reforms with impressive results. Despite the failure of first five-year plans, the programmes were revived and restated by the military government. The second five-year plans gave highest priority to heavy industrial development, advancement in literature and science, and had single underlying purpose: GDP growth in this decade jumped to an average annual rate of 6 percent from 3 percent in the s.

The manufacturing sector expanded by 9 percent annually and various new industries were set up. Agriculture grew at a respectable rate of 4 percent with the introduction of Green Revolution technology.Business Cycle of Pakistan 1. Business Cycle of Pakistan Presented by: Samad A Pirzada ARID 2.

Business Cycle The business cycle is the periodic but irregular up-and-down movements in economic activity, measured by fluctuations in real GDP and other macroeconomic variables Four Phases: Recession Trough Recovery Boom.

Economic Profile Pakistan Pakistan got its independence from the British occupation on 14th August Since emergence of the state on the political background of the world, economically, it has experienced a bumpy ride all together.

The Economic Decline in Africa "One half of the African continent lives below the poverty line. per capita GDP is now less than it was in , having declined over 11 percent. In , one in ten poor citizens in the world lived in Africa; by , the number was closer to one in two. Business Cycle Dates Current Population Survey. The following is a list of motorcycle manufacturers worldwide, sorted by extant/extinct status and by country. These are producers whose motorcycles are available to the public, including both street legal as well as racetrack-only or off-road-only list of current manufacturers does not include badge engineered bikes or motorcycle customisers, but the list of defunct. Business Cycle of Pakistan 1. Business Cycle of Pakistan Presented by: Samad A Pirzada ARID 2. Business Cycle The business cycle is the periodic but irregular up-and-down movements in economic activity, measured by fluctuations in real GDP and other macroeconomic variables Four Phases: Recession Trough Recovery Boom.

The GDP value of China represents percent of the world economy. GDP in China averaged USD Billion from until , reaching an all time high of USD Billion in and a record low of USD Billion in The period from to covers two Plan periods, the Second Five-Year Plan and the Third Five-Year Plan In the Second Five-Year Plan, an allocation of Rs.

crore, percent of the total outlay, was made for the growth of industrial sector. WHERE KNOWLEDGE IS POWER Phil Ruthven, Chairman Gala Business Lunch Friday 23 July The Business Weather Outlook Challenges & . Economic Profile of Pakistan Download. Economic Profile of Pakistan His six-point agenda of autonomy became the manifesto of the Awami League which swept the elections in East Pakistan with a resounding majority.

The reimposition of martial law and transfer of power to the Army chief, Yahya Khan, .

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