Ans: Economic development of Pakistan after 1980:
1 The Fifth Period of Economic Development:
(1980-1990)
From 1980-1990 there was a record increase in the production of cotton
rice, sugar cane and wheat. Agricultural development was at the rate of 6.2% per
annum. This can be called the best stage of economic development as steps were
taken to restore the confidence of the private sector. Through 1982 and 1984,
industrial policies created a balanced development, job opportunities, and
strengthened the private sector. This led to an encouraging increase in the rate of
production of raw material. From 1978-1983, the fifth 5 year plan commenced. The
volume of this plan was 2102 crore rupees. In spite of unfavorable circumstances,
the per annum rate of development was 6%. Industrial production increased by 9%
per annum. To encourage the setting up of industrial units, relaxations were also
given. Inflation fell to 5%.
During this plan special attention was paid to the development of rural areas
At least 20% poverty stricken people were provided help through the system of
zakát. This was a big step towards social and economic justice. The sixth 5 year
plan (1983-1988) commenced on 1st of July 1983.-Work was carried out quickly
Rom 1985 to 1988 according to Prime Minister Muhammad Khan Juneja’s 5 point
Pegrammed There was more investment from the private sector in industries and
energy producing departments. Roads were built in villages and connected to city
markets. The deserving were helped through Zakat and the system of Ushr.
Different steps were taken for providing employment.
Special attention was paid to the development of villages, backward areas,
and small cities. More attention was paid to education and health sectors. GDP
Gross Domestic Product) increased by 6.6% and agricultural production by 2.3%
There was an increase of 6% in exports and 6% in imports per annum. The rate of
nflation was 6%. The production of electricity increased by 13.6%. After the
elections held in December 1988, Mohtarma Benazir Bhutto came to power. The
government lasted till 1990. During this period the economic condition of the country
was hopeful.
From 1989 to 1990, the GDP increased to a rate of 5.1%. Agricultural
development was expected 5.2% but the increase was only 4% per annum. The
balance of payment improved. The foreign trade deficit decreased and investment
was encouraged in the country. In April 1989 the new economic policy was
announced. Again new Incentives were announced for the private sector. Setting up
of new industries was made easier. Investment in new fields was made easy.
2 The Sixth Period of Economic Development:
(1990-2000)
In 1990 and 1996, the government of Mohtarma Benazir Bhutto was
dissolved. In 1993 and 1999, the government of Mian Muhammad Nawaz Sharif
came to an end. General Pervez Musharraf came to power in 1999. The seventh 5
years development plan (1988-1993) was put into action. During this time the G.D.P
increased 5% per annum.
The production hiagriculture remained 4.7%. Industrial production increased
by the rate of 5.9%. The rate of national savings remained 12.7% per annum. 50
medical centres were established in urban areas. Literacy rate remained 36%.
The eighth 5 years plan commenced in (1993-1998). During this plan many
national institutions were handed over to the private sector. Due to the atomic blast
in 1998, Pakistan had to face many economic sanctions. A census was carried out
in 1998. GDP and agricultural sector showed an increase of 6% per annum. Private
investment increased by 22.8%. Federal government tax returns were increased by
22.6%. Exports decreased by 24.9%. Literacy rate became 37.9%. National savings
increased by 12.7%. After the 8th 5 years plan, no 5 years plan was implemented in
the country. Now annual development plans are prepared and, accordingly,
measures are taken for the national development.
3. The Seventh Period of Economic Development:
(2000-2010)
The pace of economic development in General Pervez Musharraf’s 9 year
government was 7%. Prime Minister Shaukat Aziz took many steps for economic
development but the common man’s problems and inflation increased. In the
elections of 2008, Pakistan People’s Party emerged as the majority party.
Syed Yousuf Raza Gillani became Prime Minister. The PPP government
started work to improve Pakistan’s economic situation and reduce the economic
problems of the people, but could not more succeed.
4 The Eighth Period of Economic Development
(2010-2020)
After 2010 during the People’s Party era lead shedding increased and dig
not increase the rate of economic development that was expected. The government
increased the salaries of civil servants, helped people through the Benazir income
Support Programme and the Waseela e Haq Program, Took many steps for
women’s development and protection and improvement of the condition of farmers
but the country was facing difficulties in terms of economic development.
The PML-N government was formed after the 2013 elections. During the
five-year period of the Muslim League, the GDP rate was 5.7% in 2013 which fose
to 5.53% in 2010. Agricultural growth rate was 2.60 percent in 2013 and increased
to 3.8 percent in 2018, the pace of industrial development increased from 4.6
percent in 2013 to 6.8 percent in 2018. During this time, the burden of external debl
on the country increased. After general elections in Pakistan in 2018, The Pakistan
Tehreek-e-Insaf Government was formed and Imran Khan became Prime Minister
The PTI government is striving to change Pakistan’s economic situation, improve
social services, agriculture development, to reduce water shortage and improve the
living standard of the common man.
GDP Growth %