COMSATS University Islamabad

Abbottabad Campus
Name: Hamza Shaukat
Reg No: FA19-EPE-009
Assignment: Project
Plagiarism: 14%

Table of Content
(1) INTRODUCTION
(2) ECONOMY OF COUNTRY
(3) ECONOMICAL PROBLEM FACED BY INDUSTRIAL SECTOR DURING
DIFFERENT
(i) GOVERNOMENT AND ERA’S
(ii) FLOODS
(4) General Ayyub khan:
(5) After 1990 Regims & Their Economic Trends
(6) Asif ali zardari govt & economic policy
(7) Nawaz Govt & Economic policy
(8) Economic state o pakistan
(i) Limited Cultivable Area
(ii) Uneconomic Land Holdings
(iii) Uneconomic Land Holdings
(iv) ENERGY CRISES
(v) Old technology
(vi) LOW LTERACY
(vii) Labour,s rights
(9) Solution of industrial sector
(i) RELATION WITH NEIGHBOURS
(ii) IMPROVE TECHNOLOGIES
(iii) YOUTH
(iv) The quality education
(10) CURRENT ECONOMIC STATUS OF PAKISTAN 2021
(11) Conclusion
(12) REFERENCE

Current Economic Challenges related to Industrial Sector of Pakistan

INDUSTRY
It is a place where RAW materials are collected. They are utilized into useful
products in Factories.
INTRODUCTION
The economy of Pakistan has stood up to great and terrible occasions at different
stages. Political security critically influences the economy of the country and the
advanced region. Since the opportunity of Pakistan in 1947, Pakistan has procured
a low and weak current base and state. Nowadays the current situation of
organizations is not fantastic and practical. Pakistan has only 34 organizations out
of a total of 955 undertakings in the subcontinent while the abundance 921 were
held by India. Hardly any endeavors are lacking and inadequate for as of late
emerged countries to fight with bleeding edge industrialization which is existing in
the world. So, with the movement of time Pakistan regularly endeavors to disperse
open resources local similarly as external to get the faster improvement in the
mechanical region and amassing. Nevertheless, at different condition particular
issue cause an exceptional incident to the economy of Pakistan which imperatively
impact the mechanical region. The contention in 1948, 1965, 1971, and 1998
inimically impact the cutting-edge region.
ECONOMY OF COUNTRY:
Financial development has been the reliable objective of Pakistan's organizers and
policymakers since autonomy. While the basic significance of monetary
development in lifting social orders out of neediness cannot be denied, an
assessment of the encounters of non-industrial nations during the previous fifty
years recommends that financial development is only one basic part of feasible
development.in Pakistan, sadly, the circumstance has gotten more regrettable.
Genuine financial examination and exact requests have all around been snubbed by
defective monetary logic, half-prepared realities, specific or manufactured realities,
speculative guesses, and profoundly emotional affirmations
ECONOMICAL PROBLEM FACED BY INDUSTRIAL SECTOR DURING
DIFFERENT
GOVERNOMENT AND ERA’S:-
Regimes before 1999 and their economic policies:-
In the underlying many years 1950s and 1960s the financial development of
Pakistan was 3.1%. This long term as set apart by both political and
macroeconomic shakiness because of lack of assets which satisfied the need of the
country.
FLOODS:
From 1951 to 1953 the monsoon floods cause many economic
problems i.e. the uneven development of east and West Pakistan.
General Ayyub khan:
AFTER 1990 REGIMES AND THEIR ECONOMIC TRENDS:-
The economy of Pakistan is immediately advanced under the General Ayyub khan.
The money related advancement extended averaging 5.82% during his choice
period from 1958 to 1969. The gathering rate was 8.51% which is the recorded one
in Pakistan monetary history. During his organization Automobile organizations
and solid endeavors are set up. His organization moreover assembled various
women and power stations to be explicit the Tarbela dam and the Mangla dam.
After the nationalization of endeavors the possibility of privatization was
introduced and made by the PMLN government.
1n 1990 general political race Mian Nawaz Sharif was picked as PM of Pakistan
and on 22 January 1991 he completed privatization in the country which was an
opposite thing to nationalization. The essential target of privatization is to attract
new theory to the country.Secondly the headway of the unregulated economy and
financial norm and private belonging. In the principle time of privatization all of
the money related banks and foundations are privatized starting from MCB
confined and ABL limited. The license of 10 new banks were issue as privatized.
Nawaz Sharif declared privatization as a vital crossroads of Pakistan into private
saving and adventure the money related turn of events. Opposition pioneer Benazir
Bhutto examines the methodology of PLMN and in her talk in parliament she says
that "while one kin is selling, others are buying".
THE MAGICAL ERA OF PERVEZ MUSHARRAF:-
General Pervez Musharraf forced military law in the country on 12 October 1999
and assume control over the control of government by tossing the public authority
of Nawaz Sharif by abusing Article 6 of constitution 1973.His time as left as an
otherworldly period in the monetary history of Pakistan.
The low GDP rate of 2.1% is increased to 7% in his early years and recorded as
8.95% in 2005 annually. He provided an attractive and suitable environment to
foreign investors.
Foreign investment recorded at $481 million in 2001-2002, However after 8 years
it increased $5152.80 million which shows friendly atmosphere for foreign
investors.
Karachi’s stock market is ranked as best performing Asian market.
Pakistan was ranked 3rd in bank profitability.
Literacy rate increased to 53% by establishing 9 engineering universities and 18
public sector universities.
Manufacturing and construction sector was at a high stage of 30 years.
Information technology and telecommunication are flourished.
Creating 90,000 jobs in I.T, 1.3million jobs in telecommunication, 45,000 jobs in
the CNG sector.
Poverty are decreases notably by 10%.
ASIF ALI ZARDARI GOVERNAMENT AND ECONOMIC POLICIES:-
After the conclusion of the age of Pervez Musharraf Asif Ali Zardari got the
command of individuals of Pakistan and turns into the vote based leader of
Pakistan. However, shockingly because of absence of vision and procedures the
economy of Pakistan during 2008-13 endure the accompanying decreases;
GDP fells to 2.9% which was 7% in Musharraf era.
Inflation rates go to 25.3% remained in double-figure after end of his Govt.
Foreign debt increase from $45 billion to $65 billion. Pakistan was the largest
country receiving debt and was ranked as 126 most corrupt country out of 175
countries.
Unemployment rate was increased from 5.1 %( 2006-07) to 6% recorded in 2012.
Foreign investment decreased from $5152 million to $597 million.
Tax to GDP fells from 9.9% to 8.9% due to a lack of strategic policies and
reforms.
The tenure of PPP’s 2008-2013 is considered as the worst period in the economic
history of Pakistan.
TENURE OF PMLN AND NAWAZ SHARIF AND ECONOMIC TRENDS:-
Nawaz Sharif elected as prime minister of Pakistan for the 3rd time in the general
election in May 2013.The economic growth of Pakistan in PMLN Govt. during
2013-2018 are;
GDP 3 %( 2012) increased to 4.14% (2014) and was recorded at 4.7 %( 2016).
Per capita income increased at the rate 3.5%.
Tax collection increase to 16.7%, which is a major contribution to revenue
collection.
Budget deficit reduced by 5.5% (2014)
Inflation are controlled and dropped to single-digit figure stood at 8.3%.
Foreign investment increase by 3.5% relative to last year
Unemployment rate decrease to 5.9% in 2016 which was 6.5% in 2013.
PMLN govt paid circular debit of amount Rs.480 billion which resultantly added
1752 MW of electricity in the stream.
Government was decided to tackle down the energy crises, the kick start of CPEC
is the landmark achievements for energy crises.
PMLN govt had a vision of creating 700,000 jobs through CPEC in next 14 years.
ECONOMIC STATUS OF PAKISTAN 2020:-
After completing the constitutional 5 years tenure of PMLN, In general election of
2018 Imran khan elected as 22th prime minister of Pakistan and his party Pakistan
tehreek e insaf (PTI) established government in Pakistan.
Limited Cultivable Area
The total area of Pakistan is about 79.6 million hectares, out of which only 23.7
million hectares (28%) area is used for agricultural purposes. About 8 million
hectares area is idle and un-utilized. There is vast sub-division and fragmentation
of land holdings, as a result modern technology cannot be applied in agriculture
sector.
Water Logging and Salinity
Water logging and salinity are twin problems of agricultural sector due to salinity,
deposits of salt in land have appeared on the surface of land and they have
adversely affected the performance of agricultural sector. Water logging and
salinity affect about 0.10 million acre of land in every year. It is not only waste of
land but also reduction in productivity.
Uneconomic Land Holdings
Due to increasing population and division of land under the law of inheritance,
landholdings are subdivided over and over again. The result is that very large
number of farmers has less than 2 hectares of area. Moreover holdings are
scattered. It is difficult to use modern machinery on small pieces of land.
Old Methods of Production
No doubt, mechanization of agriculture is increasing in Pakistan, but in most of the
areas, the old implements are still being used for agricultural production. Old and
orthodox techniques of production cannot increase the production according to
international levels.
ENERGY CRISES
Load shedding has play a vital role in damaging industrial sector of Pakistan .And
there is no energy policy in country due to economic instability.
Old technology
In modern time a country industry cannot be developed unless it adopts
modern Technology.
LOW LTERACY
In Pakistan literacy rate is low so people of Pakistan cannot learn use of modern
industries Techniques.
Labour,s rights
Labours are not given proper rights.so they remains every time in pressures. And
they did not produce 100% output.
Solution of industrial sector:
The public authority's modern approach should zero in on improving mechanical
seriousness, particularly with respect to modern ventures including little, medium
or enormous. The modern arrangement ought to be coordinated towards expanding
the portion of the assembling area in the complete economy. A compelling
Industrialization Policy ought to be detailed giving a dream for the mechanical
economy for both the short-medium and medium-long haul. The public authority
ought do whatever it takes not to control mechanical turn of events however it
should form approaches in counsel with the private area, which should be
considered as motor of growth.The government ought to empower close
coordinated effort among public and private areas in setting up a portion of the
enormous modern endeavors in the country.
Solution
RELATION WITH NEIGHBOURS
Government should improve relations with neighboring countries like
India, Iran, and Afghanistan. For economic information, communication and
technology sectors among others should be given more preference
IMPROVE TECHNOLOGIES
And government should improve ICTs system. Because in forthcoming years, all
the economies will be measured through technologies. India earns lots of money
through its IT industry.
YOUTH
The employment zones for youth should be opened so as two-third of youth could
contribute for the economy of Pakistan. They could use their potentials and skills
for better Pakistan.
The quality education
The upsetting tutoring system should be improved. The quality preparing from
fundamental for school should be ensured. Authentic school noticing framework
should be arranged. New and updated instructive arrangement ought to be
introduced. Maybe than contributing package of expenditure plan careful side,
more monetary plans should be assigned for guidance. Quality expert getting ready
zones should be set up in every area for youth as they could dominate particular
capacities in different units and trades. Government should ensure those expert
zones that how they are functioning and functioning. One of the fundamental
strategies for improving economy is to help business and to make new streets for
advancement by controlling the youthful. Preceding the wide range of various
things, the public authority should overcome the holding up energy crisis.
BUSINESS
Pakistan should enhance export competitiveness by reducing cost of doing
business. Pakistan should adopt strategic approach to increase its export in
neighboring markets and underline the need of holding single country As a result
of overall economy dilemma, the common men and women in the country are
facing economic deficiency and deprivation.
CURRENT ECONOMIC STATUS OF PAKISTAN 2021:
Pakistan economy will get back to development during the continuous monetary
year 2020-21, yet financial action will stay underneath pre-episode levels, as
indicated by a most recent report.Moody's Investors Service said the economy
should get back to humble 1.5 percent (GDP) development in monetary year 2021,
which closes on June 30."Pakistan economy will get back to development in
financial year 2020-21, acquiring an unassuming 1.5 percent and speed up to 4.4
percent in 2022. The public authority and national bank reactions and changes will
somewhat mellow the pandemic's effect and help resuscitate the economy," as per
the rating office's most recent report.Last year, Pakistan economy contracted
without precedent for a very long time by enrolling 0.4 percent negative
development because of episode of the Covid-19 pandemic. It posted 1.9 percent
development in financial year 2018-19 contrasted with a record-high 5.8 percent
GDP development in 2017-18 when the Imran Khan-drove Pakistan Tehreek-e-
Insaf came to control without precedent for Islamabad.Profitability will go under
pressure this year after a gigantic 625-premise point loan fee cut in 2020," the
rating organization said, adding that private-area loaning to develop between five
percent and seven percent in 2021, beneath expansion assumptions for eight for
each cent.Like pretty much every country all throughout the planet, Pakistan's
economy endured in 2020. The GDP development rate for monetary year 2019–20
was – 0.4 percent — the first occasion when it fell negative in quite a while. Per
capita pay tumbled from US$1625 to US$1325. Coronavirus terminations and
lockdowns to restrict the spread of the infection are likewise adding to developing
joblessness and destitution.
Conclusion:
 In the end, it's over that government of Islamic Republic of Pakistan ought to take
measures to beat the unhealthy and failure scenario of the commercial sectors.
many actions are taken by the organization and thus the govt as mentioned earlier.
the simplest recommendation is that government ought to do the Privatization of
the industries to create them higher
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