Check Also: CSS Pakistan Affairs Notes | Natural Resources of Pakistan, Development of one industry leads to the development and expansion of other industries. Phase 2 (1958-1969): 1. Pakistan is amongst the 180+ countries dealing with the coronavirus pandemic. With developed industrial sector we cannot only produce substitute of imported goods but we can export them to other countries. Development of industrial sector means more investment, employment and production. This sector provides employment to both skilled and unskilled labor. In 1948 the government declared the private sector for investment. Government of Pakistan ... Short Term Steps (July 2006-June 2009) ... Industrial Units. 4. Large government investments in the 1970s established the country's first large-scale ship-building and steel milling operations; the production of chemical fertilizers was also given special government support. The Constitution of Pakistan is the supreme law of Pakistan. In 1958, a military government of Ayub came into power in Pakistan and announces a new industrial policy in 1959. To make industrial development, we have to import modern machinery and advanced technology from other countries. Kemal, A.R. FAISALABAD, (UrduPoint / Pakistan Point News - 18th Aug, 2020 ) :Faisalabad Industrial Estate Development & Management Company (FIEDMC) Chairman Mian Kashif Ashfaq has said that Pakistan Tehreek-e-Insaf government had taken record steps for development and improvement of industrial sector during the first two years of its tenure. We should establish every type of industry in every line so that we will be able to produce every product in our country and in this way we can minimize imports. The broad outline of government policy in the 1950s and early 1960s involved squeezing the peasants and workers to finance industrial development. })(); Copyright © 2019. Industrialization brings structural changes in the pattern of foreign trade of the country. We need to focus on their development to build a new Pakistan… Causes of Industrial Backwardness: 1. Talking to APP on … 2 By giving them loans and credit facilities. We write simple, Stress-free language to understand articles. Industrialization provides larger scope for on the job-training and technological progress. Check Also: CSS Pakistan Affairs Notes | Power Resources of Pakistan. Ph: +92 42 36375963-5 Fax: 042-36298302 Under Industrial Policy, keeping in view the priorities of the country and its economic development, the roles of the public and private sectors are clearly decided. Regional trade can be a potential driver for growth. The export of goods provides foreign exchange. The construction of milk processing plants adds to its line of production ice cream. It helps in increasing the export of manufactured goods and thus earns foreign exchange. The Constitution of 1973 is the existing constitution, which provides for a parliamentary system with a President as head of state and popularly elected Prime Minister as head of government. The advantages of technological change were channeled into agriculture. It was also executing a comprehensive strategy to resolve problems of the sector on top priority in order to enhance national exports and strengthening the national economy, he added. Major exports of our industrial sector are textile items and sports goods etc. Developed industrial sector can absorb millions of unemployed which will increase not only the income level but also the standard of living. Governments should attract foreign investment by giving maximum facilities to foreign investors. Check Also: Agriculture of Pakistan | CSS Pakistan Affairs Notes. From the above discussion, it is clear that no doubt Industrial sector has much importance for economic development without which no country can make progress in this modern world. Industrialization eliminates dependence on agriculture only. The increased use of modem inputs has increased the yield of crops per hectare. One of the major objectives in all the five year plans of Pakistan is to improve the balance of payments position by (1) increasing export and (2) production of import substitution goods in the country.The twin objectives of promoting export orientation and import … 10 April 2020 The Asian Development Bank (ADB) has repurposed $50 million from Pakistan's National Disaster Risk Management Fund (NDRMF) to support the government of Pakistan's preventive and response efforts to fight the outbreak of the novel coronavirus (COVID-19) in the country. For instance. We need to focus on their development to build a new Pakistan… There are now clear warnings of a global economic recession as […] Industrial development increases the revenue of the government which is spent on the welfare of people. Industrialization promotes specialization of labor. Economic consequences of environmental degradation. Because it provides fertilizers pesticides, seeds, machinery etc., agricultural sector these things promotes agricultural development Industrialization provides machinery like tractors, thrashers, harvesters, bulldozers, aerial spray etc. (document.getElementsByTagName('head')[0] || document.getElementsByTagName('body')[0]).appendChild(hs); Complete List of the Recipients of the Pakistan Civil... Pakistan Affairs Notes | Information Technology (IT) Sector Development in Pakistan. 69 ... development, production and commercialisation in Pakistan. Pakistan Hunting and Sporting Arms Development Company; Pakistan Industrial Development Corporation; Pakistan Industrial Technical Assistance Centre; Pakistan Institute of Management; Pakistan Machine Tool Factory; Pakistan Steel Mills; Small and Medium Enterprise Development Authority; Pakistan Stone Development Company Pakistan is amongst the 180+ countries dealing with the coronavirus pandemic. The minister said the government was already making efforts to cut down prices of electricity and gas, particularly for the textile sector. Pakistan Industrial development Corporation was established in 1952 to foster industrial growth and this functioned productively till 1970. For the attainment of the above-mentioned objectives, the government of India has taken the following major steps: (1) New Industrial Policy. Technology, including the IT industry, in Pakistan has enormous potential for growth. Industrial sector also contributes in gross domestic product (GDP) of country According to year 2004-05 the contribution of industrial sector in GDP is 18.3 Percent. full term by an elected government. It enhances their capacity to save. The income of worker in the industrial sector is therefore, higher than that of a worker in agricultural sector. (function() { The new government, elected with a mandate to fix and reform Pakistan’s economy and make it one of the leading economies in Asia, has taken several immediate steps to arrest economic decline and stagnation. According to one estimate more that 50% of total labor force is employed in industry. Powered by Team CSS Times. var _Hasync= _Hasync|| []; Industrial Sector plays very important role in increasing exports of country. The majority of Pakistan's industrial sectors, for example fishing and agriculture, which count for more than one fourth of the output and two fifths of employment in Pakistan, are highly dependent on the country's natural resources. SME, s Promotion: Our country is developing country and we should establish small and medium enterprises (SME) Instead of large scale industries because we have less finance to run large scale industry. The income of the labor, due to higher productivity increases. Kemal, A.R. Reduction in the Rate of population Growth: Increase in Rate of Economic Development: Please Share your comments using Facebook ID, FPSC CSS Past Papers 2017 | Download in PDF, CSS Pakistan Affairs Notes | Natural Resources of Pakistan, Irrigation System of Pakistan | CSS Pakistan Affairs Notes, CSS Pakistan Affairs Notes | Power Resources of Pakistan, Agriculture of Pakistan | CSS Pakistan Affairs Notes, Industrial Sector in Economic Development. A nation which depends upon the production and export of raw material alone cannot compete the industrial nations. The government of Pakistan has taken unprecedented steps to counter the effects of COVID-19 crisis, but is unclear if these will be enough given the challenges facing the country prior to the pandemic. Efforts have also been accelerated to bring down sales tax ratio at the rate of 15 per cent from 17 per cent,” he said. IMG Consultants, 1988, Industrial efficiency improvement and development strat- egy, Prepared for Government of Pakistan, Pakistan. full term by an elected government. Pakistan's industrial sector accounts for about 64% of GDP. The government of Pakistan has taken unprecedented steps to counter the effects of COVID-19 crisis, but is unclear if these will be enough given the challenges facing the country prior to the pandemic. Government of Pakistan ... Short Term Steps (July 2006-June 2009) ... Industrial Units. So in this ways this sector increases national GDP. Check Also: Irrigation System of Pakistan | CSS Pakistan Affairs Notes. Pakistan is an emerging market with a young and growing population of around 200 million, according to the World Bank. Industrial sector is also plays great role in social welfare this sector meets different needs of society like food and fiber requirement of population. Governments should charge Minimum taxes from industrialists to attract them towards investment in industry. Pakistan is a developing country and there population growth rate is 1.573% in 2011, but the rate of increase in G.N.P is relatively low, therefore, there is general unemployment (25 %) in 2009, and disguised unemployment is increase in agriculture sector. This phase witnessed the massive industrial growth in the country. Agriculture, minerals, transport and communication trade and other sector of the economy mainly depend on industrial sector. The division of work increases the marginal value product of labor. Government should obtain maximum foreign AID to compensate low rate of saving so that maximum investment will take place in country. Industrial sector increases revenue of Government because industrial sector pays different type of taxes to government like. "Dedicated to the legacy of the late Hameed Nizami" The PLGMEA chairman called encouraging the steps taken by PM Imran for industrial development. _Hasync.push(['Histats.fasi', '1']); Government of Pakistan, Finance Division, Economic Advisor's Wing, Economic Survey, various issues. In an agrarian country people in general are illiterate. If India and Pakistan can break a lot of economic and non-economic barriers, Pakistan will be put on India’s growth rate. Customary traditional and backward in thinking industry puts them on the path of development. Improves quality of the product and helps in widening of the market. Cone cream plants, etc…. Arif Nizami (Editor) 4-Shaarey Fatima Jinnah, Lahore The UK exported £1.1 billi… That is why , from time to time , many steps were taken by different ruling parties for the development of the industrial sector which are as follows : 1 . and Z. Alvi, 1975, Effect of 1972 devaluation on Pakistan's balance of trade, Pakistan Development Review. Government of Pakistan, Finance Division, Economic Advisor's Wing, Economic Survey, various issues. In short, Pakistan’s future government must take steps to retain and attract more investment in order to generate the conditions for economic stability. “We are also making legislation to encourage and facilitate big companies to come and invest in Pakistan. With increase in industrial production we can supply goods to far-off places and to other countries and extend market which may help in economic development. The voluntary savings stimulate industrial growth and by cumulative effect lead to further expansion of industry. Long Term steps (July 2009-June, 2025) Responsibility Industrialization leads to migration of surplus labor from farm sector to the industries mostly situated in urban centers. If we study the history of economic development we find that the growth in national income and per capita income has been accompanied by a relative decline in their dependence on agriculture. Government should maintain law and order in country so that security of life and property will be given to business and they will feel comfortable and will be ready to invest in country. The country is surrounded by resource rich countries and it should take advantage of the complementarities that can arise in through the labor market, or through trade. Due to industrialization in Pakistan now cotton and sugarcane is used in the domestic industries. City within Balochistan spent on the path of development procure gas at the of. 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