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The Analysis

From 1949 to 1953, Pakistan was in the traditional society growth stage according to Rostow's model. During this time, refugees from India started trading firms that later became industries due to government policies. The Korean War boosted exports of raw materials like jute, increasing GDP from 3% to 9.4%. Industrial sector was 6.9% of GDP in 1950 as private enterprises were encouraged. From 1953 to 1959, Pakistan was in a pre-takeoff position. Rs. 185.11 crore were allocated to industry, establishing large manufacturing plants. Local industries received tariff protection and skilled labor training. The green revolution began in 1954 but failed to transform agriculture due to lack of land reform. The 1960

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40 views1 page

The Analysis

From 1949 to 1953, Pakistan was in the traditional society growth stage according to Rostow's model. During this time, refugees from India started trading firms that later became industries due to government policies. The Korean War boosted exports of raw materials like jute, increasing GDP from 3% to 9.4%. Industrial sector was 6.9% of GDP in 1950 as private enterprises were encouraged. From 1953 to 1959, Pakistan was in a pre-takeoff position. Rs. 185.11 crore were allocated to industry, establishing large manufacturing plants. Local industries received tariff protection and skilled labor training. The green revolution began in 1954 but failed to transform agriculture due to lack of land reform. The 1960

Uploaded by

Amin Aslam
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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THE ANALYSIS:

From 1949 to 1953, Pakistan was on Traditional society growth stage according to
Rostows model. During this time period, the refugees who came from India with a
decent amount of capital started their own trading firms which later, because of the
government policies, were made into industries. In this time period, the average
GDP of Pakistan was just 3%. But fortunately in 1952, Korean War broke down which
increased our exports of raw materials, especially Jute, to the international market
which resulted in our GDP jumping to 9.4%. Domestic savings and investments were
2% and 3% of the GDP respectively in 1949-1950. Pakistan had the right to be
called an agrarian economy at that time because a huge part of our exports and
GDP consisted to agricultural products. During this period Pakistan joined a couple
of military pacts and because of that it started getting financial aid from the USA
block. During this era, system of private enterprises was being encouraged due to
which industrial sector was 6.9% of the total GDP in 1950.
After 1953 till 1959, Pakistan was in a pre-takeoff position. In this era Rs. 185.11
crore were allocated for the betterment of the industrial sector. Because of this,
large manufacturing units for tires, tubes, paints, etc were setup. Local industries
were given tariff protection under this era. In addition to that, skilled labor was also
being produced in this time period by the establishment of Swedish-Pak institute of
technology and Pakistan Industrial Technical Assistance Centre (PITAC). In 1954, the
green revolution started in Pakistan but it could not revolutionize the agriculture
sector of Pakistan. There were no land reforms in Pakistan. The peasants and the
farmers were being crushed and all the profitability was being given to the
industrialist.
1960s is known as the Golden Era for Pakistan. At this point, Pakistans economy
was at take off stage. Industrialization was at its peak. Pakistans exports had
started to have larger quantity of industrial good now. General Ayub Khan was
flourishing Pakistan. But all of this was at some cost. Capitalism was being
promoted in the country which led to income disparity between the individuals,
classes, states etc. All the industrialization was being done in Punjab and Karachi,
ignoring the other places of Pakistan. The period from 1964 to 1965 was known as
foreign aid led industrial growth.

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