industrialization under Ayub khan
Answers
Answer:
Industrialization and rural development through constructing modern national freeways are considered his greatest achievements and his era is remembered for successful industrialization in the impoverished country. Strong emphasis on capitalism and foreign direct investment (FDI) in the industry is often regarded as "Great Decade" in the history of the country (both economical and political history).[80] The "Great Decade" was celebrated, which highlighted the development plans executed during the years of Ayub's rule, the private consortium companies, industries and credited with creating an environment where the private sector was encouraged to establish medium and small-scale industries in Pakistan.[80] This opened up avenues for new job opportunities and thus the economic graph of the country started rising.[81] He oversaw the development and completion of mega projects such as hydroelectric dams, power stations, and barrages in all over the country.[82] During 1960–66, the annual GDP growth was recorded at 6.8%.[83]
Several energy conservation programs were completed such as World's one of the largest dam, the Mangla Dam and several small dams and water reservoirs in West Pakistan while completing one dam in East Pakistan: Kaptai Dam.[84] Plans toward harnessing energy from nuclear sources were authorized by President Ayub against the wishes of his own administration over the cost of nuclear power plants.[85] Initially, there were two nuclear power plants to be established in the country: one was in Karachi and the second one in Dhaka.[86] It was Dr. Abdus Salam who had personally approved the project in Karachi against the wishes of his own government, while the project in East was never materialized.[87]
Explanation:
Extensive education reforms were supposedly carried out and 'scientific development efforts' also supposedly made during his years. These supposed policies could not be sustained after 1965, and the economy collapsed and led to the economic declines which he was unable to control.[88][89]
He also introduced a new curricula and textbooks for universities and schools after building many public-sector universities and schools were built during his era.[90] He also introduced agricultural reforms according to which no one could occupy land more than 12.5 acres (500 irrigated land and 1000 unirrigated.) An oil refinery was established in Karachi, and these reforms led to 15% GNP growth of the country that was three times greater than that of India. Despite the increase in the GNP growth, the profit and revenue was gained by the famous 22 families of the time that controlled 66% of the industries and land of the country and 80% of the banking and insurance companies of Pakistan.[