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1947
Pakistan got independence from British Rule on 14 Aug 1947
Pakistan during that time was largely dependent on imports just like India
1950-60
Pakistan introduced following Reforms for import Substitution Based Industrialisation
Tariff Protection for Manufacturing of Consumer Goods
Increase in Public investment on Infrastructure
Green revoulution was launched to increase Agriculture Output by mechanisation
1970's
Nationalisation of Capital goods Industries took place
Late 1970-1980
Denationalisation took Place and private Sector was encouraged
Pakistan received financial support from Western Nations like USA
It also received foreign remittance from a number of Pakistani natonals to Middle East (Saudi Arab,UAE)
1988
Major Reforms were undertaken in
Trade Liberalisation, Export Promotion, Financial Sector Reforms
Comparison-India vs Pakistan Development Policies
NCERT Questions
Question 6
Describe the path of developmental initiatives taken by Pakistan for its economic development.
View AnswerThe developmental path taken by Pakistan for its economic development was as follows:
1. They followed the Mixed economic structure which involved the participation of both the public and private sector
2. Pakistan introduced various reforms for Import Substitution Based Industrialisation in 1950s and 1960s like:
Tariff Protection for Manufacturing of Consumer Goods, Increase in Public investment on Infrastructure, Green revoulution was launched to increase Agriculture Output by mechanisation
3. Green revoulution was launched to increase Agriculture Output by mechanisation
4. In 1970s, the Nationalisation of Capital goods Industries took place
5. In the layte 1970-80,
Denationalisation took Place and private Sector was encouraged
Pakistan received financial support from Western Nations like USA
It also received foreign remittance from a number of Pakistani natonals to Middle East (Saudi Arab,UAE)
6. Then in 1988, reforms were initiated
The reforms were Trade Liberalisation, Export Promotion, Financial Sector Reforms
