Question

Describe the path of developmental initiatives taken by Pakistan for its economic development.

Hint:

Pakistan’s development path combined planning, industrial growth, and liberalization, but progress was hindered by socio-political factors.

Answer 1

Pakistan has followed various developmental strategies since its independence to promote economic growth and improve living standards. The path of development includes:
Mixed Economy Model: Pakistan adopted a mixed economy with both private and public sector participation.
Planning through Five-Year Plans: Like India, Pakistan implemented several Five-Year Plans to guide economic policies and priorities.
Green Revolution: It focused on agricultural development through high-yielding varieties of seeds, fertilizers, and irrigation.
Industrialization Drive: Pakistan promoted industries by offering subsidies, protecting domestic firms, and establishing industrial zones.
Structural Reforms: During the 1980s and 1990s, Pakistan introduced structural adjustment programmes under the IMF and World Bank to liberalize trade and privatize state-owned enterprises.
Social Sector Initiatives: Efforts were made to invest in health and education, although progress was relatively slower compared to economic reforms.
Vision 2025: A recent comprehensive plan aiming to transform Pakistan into an upper-middle-income country by focusing on infrastructure, energy, and human capital. Despite these initiatives, Pakistan has faced challenges such as political instability, low human development indicators, and fiscal deficits.