Advertisements
Advertisements
प्रश्न
Give reasons for the slow growth and re-emergence of poverty in Pakistan.
उत्तर
The following are the main reasons for the slow growth and re-emergence of poverty in Pakistan:
- Greater Dependency on the Public Sector Enterprises: The main cause behind the slow economic growth in Pakistan is the greater dependence on Public Sector Enterprises. Pakistan relied largely on the policy of protection by assigning central role to the Public Sector Enterprises. The operational inefficiencies of Public Sector Enterprises along with the misallocation of scarce resources resulted in dormant economic growth rate.
- Traditional Agricultural Practices: The agricultural practices in Pakistan relied heavily on traditional methods and the vagaries of climatic conditions resulting in low productivity. Consequently, the agricultural sector was not able to flourish to the extent it was thought of.
- Undeveloped Manufacturing Sector: The major portion of the foreign exchange earnings of Pakistan was in the form of remittances from Pakistani workers in the Middle-east and exports of highly volatile agricultural products. This can be regarded as one of the reasons for the slow economic growth. This is because the inflow of foreign exchange in the form of remittances substituted the need for development of manufacturing sector to earn foreign exchange by exporting manufactured goods.
- Increasing Dependence on Foreign Loans: There was an increasing dependence on foreign loans for meeting t foreign exchange requirements. Pakistan faced increasing difficulty in repaying these loans along with the mounting interest obligations in the years of agricultural failure. The increasing burden of huge foreign loans impeded the economic growth prospects of Pakistan.
- Lack of Political Stability: The lack of political stability demanded huge public expenditure for maintaining law and order in the country. This huge public expenditure acted as a drain on the country’s economic resources.
- Insufficient Foreign Investment: Pakistan also failed to attract sufficient foreign investment due to lack of political stability, low degree of international credibility and lack of well developed infrastructure.
APPEARS IN
संबंधित प्रश्न
Describe the path of developmental initiatives taken by Pakistan for its economic development.
What is the important implication of the 'one child norm' in China?
Fill in the blank
First Five Year Plan of ________________ commenced in the year 1956.
Which of the following countries ranks first in the development experience?
With which of the following concepts is the commune system associated?
The growth rate of the population is highest in which of the following country?
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. |
Analyse the implication of bilateral ‘debt-trap’ situation of Pakistan vis-a-vis the Chinese Economy.
Which of the following are the features of China's economy.
Which of the following are the lessons that India can learn from China?
Which of the following points indicates that human development is more progressed in China than in India or Pakistan?
Which of the following points critically appraise the development strategies of Pakistan?
Which of the following points explains the Great Leap Forward campaign of China as initiated in 1958?
The Maternal mortality rate is high in ______
What are the reasons for the slow growth and reemergence of poverty in Pakistan?
From the set of the events given in column I and corresponding facts given in Column II, choose the correct pair of statements:
| COLUMN I | COLUMN II | ||
| i | Dual Pricing | A | Economic Reforms of 1991 |
| ii | Setting up of Special Economic Zones in China | B | To attract foreign Direct Investment |
| iii | Commune System | C | Backyard based Industrial production units |
| iv | Great Proletarian Cultural Revolution | D | Collective Farming |
From the set of the events given in column I and corresponding facts given in Column II, choose the correct pair of statements:
| Column I | Column II | ||
| A. | Adoption of mixed economic system | I. | The common development policy of India and China |
| B. | Introduction of economic reforms in China | II. | Imposed by World Bank |
| C. | Great Leap Forward Campaign | III. | Focussed on massive industrialization |
| D. | First Five Year Plan of Pakistan | IV. | Announced in 1953 |
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:
