Pakistan is amongst the 180+ countries dealing with the coronavirus pandemic. IMG Consultants, 1988, Industrial efficiency improvement and development strat- egy, Prepared for Government of Pakistan, Pakistan. In international market, those countries are enjoying higher living standards which we industrially developed. IMG Consultants, 1988, Industrial efficiency improvement and development strat- egy, Prepared for Government of Pakistan, Pakistan. Our Country should establish labor intensive industries instead of capital intensive industries because we have cheap labor and shortage of capital. Government should maintain law and order in country so that security of life and property will be given to business and they will feel comfortable and will be ready to invest in country. 69 ... development, production and commercialisation in Pakistan. Industrial sector also contributes in gross domestic product (GDP) of country According to year 2004-05 the contribution of industrial sector in GDP is 18.3 Percent. We need to focus on their development to build a new Pakistan… Governments Should Promote saving Culture in the Country by introducing different attractive schemes to public of country. Industrial Sector is also important and helpful in agricultural development. Governments should charge Minimum taxes from industrialists to attract them towards investment in industry. A comprehensive strategy had also been evolved to increase cotton production in the country and the government would provide the maximum incentives to cotton growers, besides lessening their levies burden, he added. Pakistan is facing the deficit of $ 8.3 billion in its balance of payment during 2010-11. The advantages of technological change were channeled into agriculture. Pakistan has a bicameral … Establishment of financial institutions : Improves quality of the product and helps in widening of the market. It was also executing a comprehensive strategy to resolve problems of the sector on top priority in order to enhance national exports and strengthening the national economy, he added. Check Also: Agriculture of Pakistan | CSS Pakistan Affairs Notes. The Constitution of Pakistan is the supreme law of Pakistan. Industrialization leads to migration of surplus labor from farm sector to the industries mostly situated in urban centers. Drought, environmental pollution, low income, lawlessness, and illness are the main causes for backwardness in agriculture and industry. In 1958, a military government of Ayub came into power in Pakistan and announces a new industrial policy in 1959. 4-Shaarey Fatima Jinnah, Lahore Check Also: CSS Pakistan Affairs Notes | Natural Resources of Pakistan, Development of one industry leads to the development and expansion of other industries. CSSTimes.pk delivers free CSS online direction, approaches, books, online study-materials with an idea that no aspirant should be left out of FPSC exam competition due to Inaccessibility to costly CSS coaching centers. The use of advanced technology increases the scale of production, reduces cost of production. What steps can be taken for the increase of industrial development in Pakistan Pakistan is an under-developed country there prevails poverty among the people. Addressing a meeting of Pakistan Yarn Merchants Association (PYMA), the minister said the government had taken a number of steps aimed at benefitting the industrial sector. The voluntary savings stimulate industrial growth and by cumulative effect lead to further expansion of industry. Economic consequences of environmental degradation. By exporting finished and industrial goods we can earn a lot of money as compared to exporting raw materials. That is why , from time to time , many steps were taken by different ruling parties for the development of the industrial sector which are as follows : 1 . Developed industrial sector means development and economic welfare of the individuals. 2 By giving them loans and credit facilities. RECOMMENDATIONS. The rise in income raises the living standard of the people. 4. The increase in the income of the farmers has given boost to economic development in the country. Importance of Industrial Sector in Pakistan or Role of Industrial Sector In economic Development Increase in National Income: Industrial sector also contributes in gross domestic product (GDP) of country According to year 2004-05 the contribution of industrial sector in GDP is 18.3 Percent. FAISALABAD, (UrduPoint / Pakistan Point News - 18th Aug, 2020 ) :Faisalabad Industrial Estate Development & Management Company (FIEDMC) Chairman Mian Kashif Ashfaq has said that Pakistan Tehreek-e-Insaf government had taken record steps for development and improvement of industrial sector during the first two years of its tenure. hs.src = ('//s10.histats.com/js15_as.js'); var _Hasync= _Hasync|| []; The government of Pakistan has taken various steps to promote industrial growth in the country. Regional trade can be a potential driver for growth. Government should establish maximum industrial cities and zones where every facility should be provided to industrialists easily and at low rates. The majority of Pakistan's industrial sectors, for example fishing and agriculture, which count for more than one fourth of the output and two fifths of employment in Pakistan, are highly dependent on the country's natural resources. Developed industrial sector can absorb millions of unemployed which will increase not only the income level but also the standard of living. If we study the history of economic development we find that the growth in national income and per capita income has been accompanied by a relative decline in their dependence on agriculture. In 1948 the government declared the private sector for investment. 2. The export of goods provides foreign exchange. FAISALABAD: State Minister for Finance Rana Muhammad Afzal Khan said on Sunday that the government was striving to resolve the problems of the industrial sector, besides improving it on modern lines. Due to industrialization in Pakistan now cotton and sugarcane is used in the domestic industries. The increased use of modem inputs has increased the yield of crops per hectare. Powered by Team CSS Times. Industrial development increases the revenue of the government which is spent on the welfare of people. Industrialization helps in increasing the value of output per worker. Pakistan's industrial sector accounts for about 64% of GDP. Ph: +92 51 2287273 Islamabad, Ph: +92 21 35381208-9 Karachi The industrial activity compared to agricultural is easy to control. Following steps should be taken by government to boost up industrial development in Pakistan. Addressing a meeting of Pakistan Yarn Merchants Association (PYMA), the minister said the government had taken a number of steps aimed at benefitting the industrial sector. The division of work increases the marginal value product of labor. People through the adoption of family planning measures, reduce the rate of population growth. The broad outline of government policy in the 1950s and early 1960s involved squeezing the peasants and workers to finance industrial development. The industrial production can be expanded or cut down according to the price, cost and demand of the product. There are now clear warnings of a global economic recession as […] Industrial Sector also meets national Defense requirement. Government of Pakistan ... Short Term Steps (July 2006-June 2009) ... Industrial Units. 10 April 2020 The Asian Development Bank (ADB) has repurposed $50 million from Pakistan's National Disaster Risk Management Fund (NDRMF) to support the government of Pakistan's preventive and response efforts to fight the outbreak of the novel coronavirus (COVID-19) in the country. The customs excise duties and other taxes levied on the production of goods increase the revenue of the state. Role of Industrial Sector in Economic Development. Since independence , our government has realized the importance of the industrial sector . 10 April 2020 The Asian Development Bank (ADB) has repurposed $50 million from Pakistan's National Disaster Risk Management Fund (NDRMF) to support the government of Pakistan's preventive and response efforts to fight the outbreak of the novel coronavirus (COVID-19) in the country. Industrial Sector provides employment to majority of population. Ph: +92 42 36375963-5 Fax: 042-36298302 The single biggest opportunity to develop Pakistan lies in its 100 million people who are below the age of 20. Reduction in the Rate of population Growth: Increase in Rate of Economic Development: Please Share your comments using Facebook ID, FPSC CSS Past Papers 2017 | Download in PDF, CSS Pakistan Affairs Notes | Natural Resources of Pakistan, Irrigation System of Pakistan | CSS Pakistan Affairs Notes, CSS Pakistan Affairs Notes | Power Resources of Pakistan, Agriculture of Pakistan | CSS Pakistan Affairs Notes, Industrial Sector in Economic Development. Customary traditional and backward in thinking industry puts them on the path of development. This phase witnessed the massive industrial growth in the country. It has increased the income of the people and there is no need to export the raw material. With increase in industrial production we can supply goods to far-off places and to other countries and extend market which may help in economic development. Efforts have also been accelerated to bring down sales tax ratio at the rate of 15 per cent from 17 per cent,” he said. })(); Copyright © 2019. The new government, elected with a mandate to fix and reform Pakistan’s economy and make it one of the leading economies in Asia, has taken several immediate steps to arrest economic decline and stagnation. and Z. Alvi, 1975, Effect of 1972 devaluation on Pakistan's balance of trade, Pakistan Development Review. 3 By reducing tariff for them. Industrialization increases the income of the workers. The broad outline of government policy in the 1950s and early 1960s involved squeezing the peasants and workers to finance industrial development. But due to shortage of foreign exchange, we cannot import such items to make rapid economic development. Industrial sector also helps government to stabilize price in country when goods are available in sufficient quantity. Check Also: Irrigation System of Pakistan | CSS Pakistan Affairs Notes. (function() { Agriculture, minerals, transport and communication trade and other sector of the economy mainly depend on industrial sector. Long Term steps (July 2009-June, 2025) Responsibility Pakistan Industrial Technical Assistance Centre (PITAC) was established in 1956. One of the major objectives in all the five year plans of Pakistan is to improve the balance of payments position by (1) increasing export and (2) production of import substitution goods in the country.The twin objectives of promoting export orientation and import … full term by an elected government. The income of the labor, due to higher productivity increases. Agriculture currently employs 47 percent of the country’s labor force and comprises 24 percent of its GDP.. Now, in 2018, the country is self-sufficient agriculturally and exports large quantities of wheat, milk, rice and cotton for profit; … With a growing middle class, and an affinity for UK expertise, products and brands, there are good opportunities to increase UK exports of goods and services in this unsaturated and rapidly growing market. Industrial sector earns a good amount of foreign exchange for the country which is used for repairing national debt and for imp0rtant of machinery etc. July, 2006 onwards. At present the share of industrial sector to GDP is 6.8%. Our country is developing country and we should establish small and medium enterprises (SME) Instead of large scale industries because we have less finance to run large scale industry. Because it provides fertilizers pesticides, seeds, machinery etc., agricultural sector these things promotes agricultural development Industrialization provides machinery like tractors, thrashers, harvesters, bulldozers, aerial spray etc. Long Term steps (July 2009-June, 2025) Responsibility Following are the important measures adopted by the government to promote the industrial sector : 1. The UK exported £1.1 billi… It enhances their capacity to save. Government should obtain maximum foreign AID to compensate low rate of saving so that maximum investment will take place in country. These include measures to reduce non-productive expenditure and raise var hs = document.createElement('script'); hs.type = 'text/javascript'; hs.async = true; Governments should attract foreign investment by giving maximum facilities to foreign investors. Industrialization brings structural changes in the pattern of foreign trade of the country. So in this ways this sector increases national GDP. Check Also: CSS Pakistan Affairs Notes | Power Resources of Pakistan. The Constitution of 1973 is the existing constitution, which provides for a parliamentary system with a President as head of state and popularly elected Prime Minister as head of government. We need to focus on their development to build a new Pakistan… Pakistan at the time of partition in 1947, had negligible industrial base. Increase in production will increase the national income. Pakistan is the second largest economy in South Asia after India. Since gaining independence from Britain in 1947, the development of sustainable agriculture in Pakistan has greatly improved. The PLGMEA chairman called encouraging the steps taken by PM Imran for industrial development. Industrial Sector plays very important role in increasing exports of country. The Government has taken steps to invest in this crucial sector with the recent establishment of a Marble City within Balochistan. and Z. Alvi, 1975, Effect of 1972 devaluation on Pakistan's balance of trade, Pakistan Development Review. We should establish every type of industry in every line so that we will be able to produce every product in our country and in this way we can minimize imports. Industrialization promotes specialization of labor. Talking to APP on … From the above discussion, it is clear that no doubt Industrial sector has much importance for economic development without which no country can make progress in this modern world. Since the division of the Subcontinent, the Government of Pakistan has been utilizing all available resources domestic as well as external for rapid development of the manufacturing sector. The construction of milk processing plants adds to its line of production ice cream. Hence, in order to sustain economic growth there is a high demand on already … Modem defense cannot be put on a sound footing unless its basic needs are met from within the country itself and these basic needs are mainly supplied by modem industry, in the present times it have become more important as we surrounded by enemies. Industrial sector is also plays great role in social welfare this sector meets different needs of society like food and fiber requirement of population. There is a demand of finished products within and outside the country. We always check high standards of excellence, […] Check Also: Role of Industrial Sector in Economic Development | CSS Pakistan Affairs Notes […]. Therefore dependence on other countries and deficit in balance of trade and balance of payments can be decreased and we may be able to save foreign exchange. Government of Pakistan, Finance Division, Economic Advisor's Wing, Economic Survey, various issues. The PLGMEA chairman called encouraging the steps taken by PM Imran for industrial development. Pakistan is a developing country and there population growth rate is 1.573% in 2011, but the rate of increase in G.N.P is relatively low, therefore, there is general unemployment (25 %) in 2009, and disguised unemployment is increase in agriculture sector. The government of Pakistan has taken unprecedented steps to counter the effects of COVID-19 crisis, but is unclear if these will be enough given the challenges facing the country prior to the pandemic. Industrialization is the best way to provide economic stability to the country. Arif Nizami (Editor) Controversial Industrial development strategies. To make industrial development, we have to import modern machinery and advanced technology from other countries. Industrialization eliminates dependence on agriculture only. Industrialization increases the supply of goods both for internal and external markets. Any government can take advantages by their cottage and small scale industries if they take some important steps for this industry. The construction of a transistor radio plant develops the small battery industry. Large government investments in the 1970s established the country's first large-scale ship-building and steel milling operations; the production of chemical fertilizers was also given special government support. In cities, improved facilities of sanitation and health care are available. Pakistan Hunting and Sporting Arms Development Company; Pakistan Industrial Development Corporation; Pakistan Industrial Technical Assistance Centre; Pakistan Institute of Management; Pakistan Machine Tool Factory; Pakistan Steel Mills; Small and Medium Enterprise Development Authority; Pakistan Stone Development Company But due to shortage of foreign exchange, we cannot import such items to make rapid economic development. The country is surrounded by resource rich countries and it should take advantage of the complementarities that can arise in through the labor market, or through trade. A nation which depends upon the production and export of raw material alone cannot compete the industrial nations. Government should provide maximum credit facility to businessman so that they will be able to meet their all financial needs and carry on their business. The single biggest opportunity to develop Pakistan lies in its 100 million people who are below the age of 20. In an agrarian country people in general are illiterate. Technology, including the IT industry, in Pakistan has enormous potential for growth. They not only receive higher prices for their exports and earn foreign exchange but their financial and political condition also become more stable. In this connection, an agreement had been signed with Qatar to procure gas at the rate of Rs 12.75 MMBtu, he added. July, 2006 onwards. Industries will make the people hardworking and will go a long way to increase their efficiency. New roads, dams, buildings and parks are constructed. Causes of Industrial Backwardness: 1. Kemal, A.R. (document.getElementsByTagName('head')[0] || document.getElementsByTagName('body')[0]).appendChild(hs); It helps in increasing the export of manufactured goods and thus earns foreign exchange. Increased Production will expand the scale of production with the result cost of production will be decreased and the profit will be increased for the business people. In short, Pakistan’s future government must take steps to retain and attract more investment in order to generate the conditions for economic stability. to be used in the farm sector. Phase 2 (1958-1969): 1. Industrialization provides larger scope for on the job-training and technological progress. UK-Pakistan bilateral trade in 2017 was £2.9 billion. There are now clear warnings of a global economic recession as […] full term by an elected government. Any government can take advantages by their cottage and small scale industries if they take some important steps for this industry. “We are also making legislation to encourage and facilitate big companies to come and invest in Pakistan. The steps that must be taken by the government of Pakistan for the development of Pakistan are: 1 They can encourage the small scale industries by reducing the purchase of foreign goods and be buying locally made goods by those small industries. The minister said the government was already making efforts to cut down prices of electricity and gas, particularly for the textile sector. For the attainment of the above-mentioned objectives, the government of India has taken the following major steps: (1) New Industrial Policy. Cone cream plants, etc…. Under Industrial Policy, keeping in view the priorities of the country and its economic development, the roles of the public and private sectors are clearly decided. Complete List of the Recipients of the Pakistan Civil... Pakistan Affairs Notes | Information Technology (IT) Sector Development in Pakistan. The income of worker in the industrial sector is therefore, higher than that of a worker in agricultural sector. This sector provides employment to both skilled and unskilled labor. Cotton textile production and apparel manufacturing are Pakistan's largest industries, accounting for about 65% of the merchandise exports and almost 40% of the employed labour force. To make industrial development, we have to import modern machinery and advanced technology from other countries. These include measures to reduce non-productive expenditure and raise Advertisement For instance. Major exports of our industrial sector are textile items and sports goods etc. Following steps should be taken by government to boost up industrial development in Pakistan. Imports of country can be reduced by establishing industries of those goods that are being imported from other countries in this way national foreign exchange service can be saved. Pakistan is facing the deficit of $ 8.3 billion in its balance of payment during 2010-11. Government of Pakistan ... Short Term Steps (July 2006-June 2009) ... 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There have been several documents known as the Constitution of Pakistan. Government of Pakistan, Finance Division, Economic Advisor's Wing, Economic Survey, various issues. _Hasync.push(['Histats.start', '1,3926547,4,408,270,55,00011111']); SME, s Promotion: Our country is developing country and we should establish small and medium enterprises (SME) Instead of large scale industries because we have less finance to run large scale industry. With developed industrial sector we cannot only produce substitute of imported goods but we can export them to other countries. Industrial sector increases revenue of Government because industrial sector pays different type of taxes to government like. The new government, elected with a mandate to fix and reform Pakistan’s economy and make it one of the leading economies in Asia, has taken several immediate steps to arrest economic decline and stagnation. Defense is very important requirement of every country industrial sector provide modern arms and other equipment’s for defense. According to one estimate more that 50% of total labor force is employed in industry. "Dedicated to the legacy of the late Hameed Nizami" Pakistan is amongst the 180+ countries dealing with the coronavirus pandemic. Pakistan's industrial sector accounts for about 64% of GDP. If India and Pakistan can break a lot of economic and non-economic barriers, Pakistan will be put on India’s growth rate. Extension of market depends on the quantity of demand. Kemal, A.R. On the other hand the processing of raw material at home curtails the import of goods and thereby helps in conserving foreign exchange. Development of industrial sector means more investment, employment and production. Cotton and cotton-based products account for 61% of export earnings of Pakistan. The government of Pakistan has taken unprecedented steps to counter the effects of COVID-19 crisis, but is unclear if these will be enough given the challenges facing the country prior to the pandemic. We write simple, Stress-free language to understand articles. _Hasync.push(['Histats.fasi', '1']); Pakistan Industrial development Corporation was established in 1952 to foster industrial growth and this functioned productively till 1970. Pakistan is an emerging market with a young and growing population of around 200 million, according to the World Bank. Importance of Industrial Sector in Pakistan or Role of Industrial Sector In economic Development Increase in National Income: Industrial sector also contributes in gross domestic product (GDP) of country According to year 2004-05 the contribution of industrial sector in GDP is 18.3 Percent. 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