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प्रश्न
Describe the path of developmental initiatives taken by Pakistan for its economic development.
उत्तर
- With the aim of economic development, Pakistan adopted the pattern of a mixed economy where both private and public sectors coexist.
- Pakistan introduced a variety of regulated policy frameworks for import substitution, and industrialization during the 1950s and 1960s. This implies producing goods domestically to substitute imports, thereby, discouraging imports and simultaneously encouraging and developing domestic industries.
- In order to protect domestic industries producing consumer goods, a policy measure was initiated to create tariff barriers.
- The introduction of Green Revolution mechanized agriculture led to the increase in the production of food grains.
- The mechanization of agriculture was followed by the nationalization of capital goods industries in the 1970s.
- In the late 1970s and early 1980s, Pakistan shifted its policy orientation by denationalizing the thrust areas, thereby, encouraging the private sector.
- All these above measures created an environment conducive to initiating the economic reforms that were ultimately initiated in 1988.
संबंधित प्रश्न
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Read the following text carefully and answer the following question:
| SINO-PAK FRIENDSHIP CORRIDOR |
|
The China-Pakistan Economic Corridor (CPEC) has deepened the decades-long strategic relationship between the two nations. But it has also sparked criticism for burdening Pakistan with mountains of debt and allowing China to use its debt-trap diplomacy to gain access to strategic assets of Pakistan. The foundations of CPEC, part of China’s Belt and Road Initiative, were laid in May 2013. At the time, Pakistan was reeling under weak economic growth. China committed to play an integral role in supporting Pakistan’s economy. Pakistan and China have a strategic relationship that goes back decades. Pakistan turned to China at a time when it needed a rapid increase in external financing to meet critical investments in hard infrastructure, particularly power plants and highways. CPEC’s early harvest projects met this need, leading to a dramatic increase in Pakistan’s power generation capacity, bringing an end to supply-side constraints that had made rolling blackouts a regular occurrence across the country. Pakistan leaned into CPEC, leveraging Chinese financing and technical assistance in an attempt to end power shortages that had paralyzed its country’s economy. Years later, China’s influence in Pakistan has increased at an unimaginable pace. China As Pakistan’s Largest Bilateral Creditor: China’s ability to exert influence on Pakistan’s economy has grown substantially in recent years, mainly due to the fact that Beijing is now Islamabad’s largest creditor. According to documents released by Pakistan’s finance ministry, Pakistan’s total public and publicly guaranteed external debt stood at $44.35 billion in June 2013, just 9.3 percent of which was owed to China. By April 2021, this external debt had ballooned to $90.12 billion, with Pakistan owing 27.4 percent –$24.7 billion – of its total external debt to China, according to the International Monetary Fund (IMF). Additionally, China provided financial and technical expertise to help Pakistan build its road infrastructure, expanding north-south connectivity to improve the efficiency of moving goods from Karachi all the way to Gilgit-Baltistan (POK). These investments were critical in better integrating the country’s ports, especially Karachi, with urban centers in Punjab and Khyber-Pakhtunkhwa provinces. Despite power asymmetries between China and Pakistan, the latter still has tremendous agency in determining its own policies, even if such policies come at the expense of the long-term socioeconomic welfare of Pakistani citizens. |
Outline and discuss any two economic advantages of China Pakistan Economic Corridor (CPEC) accruing to the economy of Pakistan.
Read the following text carefully and answer the following question:
| SINO-PAK FRIENDSHIP CORRIDOR |
|
The China-Pakistan Economic Corridor (CPEC) has deepened the decades-long strategic relationship between the two nations. But it has also sparked criticism for burdening Pakistan with mountains of debt and allowing China to use its debt-trap diplomacy to gain access to strategic assets of Pakistan. The foundations of CPEC, part of China’s Belt and Road Initiative, were laid in May 2013. At the time, Pakistan was reeling under weak economic growth. China committed to play an integral role in supporting Pakistan’s economy. Pakistan and China have a strategic relationship that goes back decades. Pakistan turned to China at a time when it needed a rapid increase in external financing to meet critical investments in hard infrastructure, particularly power plants and highways. CPEC’s early harvest projects met this need, leading to a dramatic increase in Pakistan’s power generation capacity, bringing an end to supply-side constraints that had made rolling blackouts a regular occurrence across the country. Pakistan leaned into CPEC, leveraging Chinese financing and technical assistance in an attempt to end power shortages that had paralyzed its country’s economy. Years later, China’s influence in Pakistan has increased at an unimaginable pace. China As Pakistan’s Largest Bilateral Creditor: China’s ability to exert influence on Pakistan’s economy has grown substantially in recent years, mainly due to the fact that Beijing is now Islamabad’s largest creditor. According to documents released by Pakistan’s finance ministry, Pakistan’s total public and publicly guaranteed external debt stood at $44.35 billion in June 2013, just 9.3 percent of which was owed to China. By April 2021, this external debt had ballooned to $90.12 billion, with Pakistan owing 27.4 percent –$24.7 billion – of its total external debt to China, according to the International Monetary Fund (IMF). Additionally, China provided financial and technical expertise to help Pakistan build its road infrastructure, expanding north-south connectivity to improve the efficiency of moving goods from Karachi all the way to Gilgit-Baltistan (POK). These investments were critical in better integrating the country’s ports, especially Karachi, with urban centers in Punjab and Khyber-Pakhtunkhwa provinces. Despite power asymmetries between China and Pakistan, the latter still has tremendous agency in determining its own policies, even if such policies come at the expense of the long-term socioeconomic welfare of Pakistani citizens. |
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Which of the fol1owing are the important implication of the' one child norm' in China?
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Which of the following points explains the Great Leap Forward campaign of China as initiated in 1958?
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What is the important implication of the 'one child norm' in China?
Identify the correctly matched pair in Column A and Column B from the following:
| Column A | Column B | ||
| (1) | India | (a) | Economic reforms in 1997 |
| (2) | Pakistan | (b) | Economic reforms in 1991 |
| (3) | China | (c) | Economic Reforms in 1978 |
| (4) | India | (d) | GST rolled out in 1999 |
‘GLF’ with respect to the People’s Republic of China referred to as ______
Assertion (A): In the late 1970s, China’s population growth rate had sharply declined.
Reason(R): China has witnessed an increase in the proportion of elderly people owing to stringent family planning programmes.
Statement 1: Great Proletarian Cultural Revolution was introduced in China in 1950's.
Statement 2: China's growth is mainly contributed by the manufacturing sector.
In the light of given statements, choose the correct alternative from the following:
