Pakistan Economy Eras


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Pakistan Economy Eras

  1. 1. Era’s In Pakistan Economy Iqra Akram
  2. 2. Laying foundations (1947-58)  Newly independent nation, with little industry, few services and no manufacture.  Decade of management and planning  economic policy and planning witnessed the attempts of a bureaucracy to keep Pakistan on its feet  State sector as the private sector was still in embryo  Windfall gain made by the mercantile class during and after the Korean War (1952)
  3. 3. The Decade of Development: 1958-1968  The 1960s stands out as the decade with best performance, it was Ayub Khan’s era  Growth rates in 1960s were very high in all sectors (Agriculture, GDP, Manufacturing, Commodity producing sector, service sector). Growth in excess of 20% per annum  Capitalist economy , and private sector play significant role  Controversial decade for the type of economic policy pursued  Income inequality 5 million people fell below the poverty line.  Exchange rate was overvalued
  4. 4. Economic growth in Ayub Khan Era
  5. 5. The bad luck years: 1971-77:  It was the era of Zulfiqar Ali Bhutto  Economic policy were more illiberal , it was the major cause for a huge downward trend in growth  Deindustrialization  Privatization  Inflation  Partition of EAST PAKISTAN
  6. 6. The Second Military Government: 1977-88  Zia Ul Haq’s era, is often regarded as a period of great purge and growth of state- sponsored religious traditionalism  General Zia-ul-Haq's long eleven-year-rule era features the country's first Technocracy (experts in technology) and had no politicians from any parties in his government.  He then introduced strict Islamic law in 1978
  7. 7. The Second Military Government: 1977-88  Trend of liberalize the economy was escalated consciously in the Zia’s period, the Soviet invasion of Afghan and the excessive involvement in PAK’S by the USA, that increase growth  Middle East and aid from abroad helped launch PAK’S second economic revolution( 1st was Green revolution)  General Zia’s martial rule inflicted deep- rooted damage of Pakistani society
  8. 8. Third Democratic Era (1988–1999)  Democracy returned again in 1988 after the general elections which were held after the death of General Zia-ul-Haq  Peoples Party back into the power politics. This period, lasting until 1999  Introduced the parliamentary system and two-party democracy
  9. 9. Third Democratic Era (1988–1999)  Pakistan was ruled by elected civilian governments, alternately headed by Benazir Bhutto and Nawaz Sharif. “Today, we have settled a score and have carried out six successful nuclear tests" (Prime minister Nawaz Sharif announcing the tests on May 30, 1998)  Under Nawaz Sharif's leadership, Pakistan became the seventh nuclear power country, the first country in the Muslim world, as well as a declared nuclear-weapon state.
  10. 10. Third Military Era (1999–2007)  12 October, 1999 General Pervez Musharraf took control of the country and impose Martial law  The Musharraf’s rule prove to be a growing period of economy , where every sector of economy was growing  Musharraf economic policies keep the economy to grow for a short time period
  11. 11. Economic Indicator Of Failure: 2000-2003  Illiterate adults 57%  Illiterate female adults 72%  Population below poverty line 34%  Without access of health services 45%  Without access of safe water 12%  Without access to sanitation 39%  Malnourished children 38%
  12. 12. Fourth Democratic Era (2008–present)  In 2008 parliamentary elections, Asif Ali Zardari of the Peoples Party was elected President of Pakistan.  After the elections, the Peoples Party - with its Yousaf Raza Gillani as the Prime minister  Pakistan's external debts are $ 56 Billion as of June, 2010 It was $ 38.86 Billion at end-March, 2007  Economic growth was 7% in 2006-07 and it is 4% in 2009-10
  13. 13. Fourth Democratic Era (2008–present)  Following endless procrastination of Syed Yousaf Raza Gillani in probing corruption charges as ordered by the judiciary.  Raja Pervaiz Ashraf of People's Party took oath as the 17th Prime Minister of Pakistan on 22 June 2012
  14. 14. Summary Of Growth In Different Ruler Era’s