Describe the path of developmental initiatives taken by Pakistan for its economic development.
Answers
For economic development Pakistan followed the mixed economy model. With co-existence of public and private sectors.
The different policies adopted by Pakistan are stated below
(i) A variety of regulated policy framework was introduced in late 1950s and 1960s.
(ii) Protection of consumer goods, domestic industries through tariff harriers.
(iii) The introduction of green revolution and mechanisation in agriculture sector…
(iv) Public investment in infrastructure in selected areas.
(v) Nationalisation of capital goods industries was introduced in 1970s.
(vi) In 1980s, denationalisation and encouragement to private sector.
(vii) In 1988, economic reforms were initiated in the economy.
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