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75 Years Economic Journey Of Pakistan

Economic Journey of Pakistan by Revenue Mobilisation, Investment and Trade Programme (REMIT)

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75 Years Economic Journey Of Pakistan

75 Years Economic Journey of Pakistan Attempts to capture the story of Pakistan’s economic advancement in a clear, meaningful and persuasive manner. 

At the time of Independence, Pakistan has been established as a predominantly agrarian economy. In 1949-50, agriculture accounted for 59.9% of the total GDP, Pakistan did not get  its proper share of resources as the distribution of these resources was largely disproportionate and mostly the assests were divided in the favour of india.

In Pakistan the Green Resolution is started during early 1960s, after signing of the Indus Basin treaty between Pakistan and India in 1960. The main element of the Green Resolution were high yielding varieties (HYVs) of seeds, fertilizer, pesticides and irrigation.

The Green Resolution featured scientific and technological breakthroughs in the forms of inputs, like HYVs of seeds fertilizer, pesticides and water. Farm mechanization also played a vital role in boosting the agriculture production. The most popular forms of mechanization in Pakistan have been tube wells, tractors, threshers and implements. Tractors, Tube wells amd other farm machinery have greatly helped in increasing the cultivated area, cropped area and cropping intensity.

During the Green Resolution, tractors gained increased importance with intensive farming. As a result of liberal import policy and increased incentives for local assembly, the tractor production had reached the level of 58,880 per annum from 4,113 in 1966-67.

Construction on Tarbela Dam was initiated in 1968 by the Water and Power Development Authority(WAPDA) on behalf of Government of Pakistan. The Tarbela Dam Project, with total cost $3.314 billion, was completed in 1974 in order to provide water storage for irrigation supplies, cheap hydel power generation, incidental flood  control and fishing facilities. The benefits from water releases till the year 2019-20 are Rs.217.7 billion and the benefits from power generation till the year 2019-20 are Rs.155.5 billion.

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