This document discusses the nationalization and privatization of banks in Pakistan. It begins by defining nationalization as transferring ownership of an institution from private to state control. It describes how the 13 major banks in Pakistan were nationalized in 1974 to promote lending to agriculture and small businesses. This led to benefits like fair credit distribution but also issues like low efficiency and political interference. The document then discusses privatization, defined as transferring ownership from public to private. Pakistan began privatizing its nationalized banks in 1994 to improve performance and competition. Objectives of both nationalization and privatization are provided along with advantages and disadvantages of each approach.