Get All 3,800 MCQs Of Pakistan Studies At One Place. Industry of Pakistan MCQs. Industrial Sector is of great importance for economic development of country. In Pakistan, SMEs have a significant contribution to the total GDP. Under-utilization of national resources INDUSTRIAL COST 68. Manufacturing sector comprises of two sub-sectors viz. f. Eradication of the scourge of terrorism And in the short to medium term, educating SME as to global trade procedures would help widen the export eco-system. Similarly, Pakistan needs to consider ongoing lobbying in Washington to obtain preferential access in the country. Relevant material in this regard is available in research papers, articles and scholarly essays which are quite easily available on the internet. The activity in the manufacturing sector is comprised of large, medium and small-scale. The income of a worker in the industrial sector will be higher on average than that of a worker in the agricultural sector. Performance of industrial sector in 1970s. Industrial sector of Pakistan problems and solutions.” Industry is an important sector of Pakistan next to agriculture. It is mandatory to procure user consent prior to running these cookies on your website. e. Provision of necessary healthcare facilities for the labour Terrorism Backward industrial sector is the second major sector of the economy of Pakistan. Importance of Industrial Development Industrial development can play a very significant role in the economic development of any country due to following: Increase in National Income Higher standard of living Economic stability Improvement in Balance of Payment Stimulates progress in other sectors Increased employment opportunities Indian Air Strike 2.0: Repercussions for Pakistan. 1 Industrial production accounts for how much of Pakistan total GDP? Your email address will not be published. Improved law and order situation and protection of property rights. For the last 50 years – from the Cold War to the War on Terror – Afghanistan had been a source of many crises for Pakistan. Industry. Aspirants should collect relevant information well before the exam. Agriculture sector of Pakistan economy is stag nant, and its gro wth rate is slow. China has promised to provide 500,000 doses of coronavirus vaccine to Pakistan by January 31: Qureshi FPCCI vows to play role for modernizing GB Industrial Sector Your email address will not be published. This ranks us closer to countries such as Sudan, Yemen, Afghanistan and Ethiopia, countries whose exports are contributing less than 10% to their GDPs. Leave a comment, 3. Industry C. Agriculture D. Manufacturing. 24%. d. Effective and beneficial use of women workforce But still, there is an energy crisis. Poor performance of state-owned enterprises (SOEs) Energy Crises: The industrial sector is dependent on the supply of energy; the shortfall of so supply causes dramatic failures and drawbacks. Industrial sector plays an important role in the development process of any country. VALUE OF PRODUCTION 82. c) Situation of mining sector d) 1980s: Russia-Afghan war and pro-industry policies of Zia 3. In the second phase of the CPEC, the focus is now on making Pakistan an industrialized country which will help increase our exports and foreign reserves in the medium to long-term, and to achieve this the emphasis is on Special Economic Zones (SEZs) and the relocation of manufacturing from China to Pakistan. k. Reservation of substantial budget for research and development. Security has always been a threat to industrial sector of Pakistan. Howsoever, still there are number of hurdles resisting continuous development of this sector. Small and medium enterprises contribute to the 90 percent of all the enterprises in Pakistan and employ almost 80 percent of the total non-agriculture labor which is huge. High bank spread is a big hindrance right now in converting new ideas to established businesses and in preventing 3.3 million existing SMEs from becoming a source of Pakistan’s foreign currency reserves. sector for building the economic-cum-industrial base.8 In 1949-50, Pakistan registered a national savings rate of 2%, foreign savings rate of 2%, and an investment rate of 4%. Pakistan is the fifth-largest market in the world after China, India, the US and Indonesia, but in terms of nominal GDP it ranks 42nd. b. Industrial sector plays an important role in the development process of any country. 4(B). Pakistan Industrial Credit and Investment Corporation (PICIC) and the Industrial Development Bank of Pakistan (IDBP) in 1957 and 1961 respectively, are the major credit bodies. Industrial sector of pakistan 1. (P.U) Economics of Pakistan short notes Mcq"s of general knowledge notes of eop Nts preparation The State Bank of Pakistan report (2016) says that war on terrorism has cost $118 billion. FIXED ASSETS (DETAIL) 54. 2/15/2007 Investment Opportunities in Pakistan Gwadar Karachi PAKISTAN Gateway to Opportunities. Of our GDP, 18.74% is agriculture, 19.74% is industry, and 61.52% pertains to services, according to the 2019 estimate; this makes it appear that sectors other than the industry are contributing more than 80% to the GDP. Cotton textile production is the single most important industry, accounting for about 19 percent of large-scale industrial employment. d) Situation of electricity-generation and distribution sector, 6. It is . Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. Overpopulation Critical analysis of the industrial sector of Pakistan in different political regimes is also an essential component of this essay. RECEIPTS FROM OTHER ACTIVITIES 96 . While presenting recommendations in the last part of the essay, try to be extremely logical and practical in your approach. Kemal, A.R., 1993, Recent development in the manufacturing sector, Study pre- The industrial Production growth rate during the year 2005 remained 6%. So, the industrial sector is truly progressing despite the country’s economy in pressure. This is an example of economy-specific essays. the Manufacturing Sector of Pakistan: a) Growth and Pattern of Output At the time of independence, small scale industries (essentially the household and cottage manufacturing units) accounted for about five per cent of GDP and only a handful of large scale manufacturing units existed in Pakistan. Though Pakistan’s export value grew 14% as compared to the world’s 6%, our Pakistan’s overall export share is just 1.2%. The government of Pakistan since 1947 is trying hard to develop industries and infrastructure facilities for the growth of industrial sector, yet it has not achieved success to the desired extent. Pakistan had negligible industrial base at the time of partition. Muhammad Zohaib Jawaid September 25, 2020. It was a topic of their social study's book. Mcq Added by: admin. Huge bank spread He graduated from the Institute of Banking & Finance at BZU, Multan. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. APP January 24, 2021. The Comprehensive Strategic Partnership concluded between the Islamic Republic of Iran and […], Print PDF The most prominent shift in the regional dynamics of South Asia is the Indo-US strategic alliance which is gaining strength by the day. Manufacturing is secondary economic activity after agriculture. 5. This category only includes cookies that ensures basic functionalities and security features of the website. Pakistan started from very weak industrial base and present situation is also not very good. Industrial Sector Of Pakistan MCQs. This article analyzes the industrial sector of Pakistan in terms of how the government is helping facilitate industries in manufacturing and export. The Pakistan Industrial Development Corp., established in the early 1980s with IDA credit, developed industrial estates for small- and medium-scale industries, assisting their occupants in obtaining credit, raw materials, technical and managerial assistance, access to production facilities, as well as marketing support. Large Scale manufacturing covers the establishments registered under factories Act 1934 or qualifying for registration (having 10 or more employees) including Repair and Service Industries. The Pakistan Economy Watch (PEW) on Tuesday said the industrial sector is going down due to heavy tax burden which is blocking national development, revenue and employment. Development of industrial sector means more investment, employment and production. i. Similarly, it is also advisable to present a scholarly comparison of the industrial sector of Pakistan with that of India and Bangladesh, at least. 8. Discuss the role or importance of transport and communication to the economic development of the Pakistan? This further supplies to sugar industries for the production of sugar and other by products which has great market. Large Scale manufacturing covers the establishments registered under factories Act 1934 or qualifying for registration (having 10 or more employees) including Repair and Service Industries. Patchy knowledge is too easily detectable in economy-related essays and examiner takes no time to fail the candidate. e) 1990s: The decade of privatization Yet in the past, the PKR/Dollar price was stable for a long period of time at around 100, and in that same period, SBP’s reserves fell from around $18 billion to $6 billion; less than 2 months of import payment remained, a serious security risk as well as an economic one. Industrial Production in Pakistan increased 14.37 percent in November of 2020 over the same month in the previous year. China has promised to provide 500,000 doses of coronavirus vaccine to Pakistan by January 31: Qureshi FPCCI vows to play role for modernizing GB Industrial Sector Indo-US Entente and India’s Ambition to Assert Itself as a ‘Pole’? He has studied Economics, Business, Finance, and Banking in his last degree. We have learned again and again the importance of diversification in economic dependency. In woven apparel, as of 2018, the growth of Bangladesh and Vietnam is 12% and 16% respectively, but China’s exports declined by 3% due to relocation to other countries since China is moving from cheap commodities to high technology value-added products. The recommendation for the opening of industries and businesses was approved in a 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. According to Global Terrorism Index (2016), out of 163 countries, Pakistan … However, the government is now taking some initiatives in that direction as well. 9 Then, manufacturing contributed 7.8% of GDP and the services/trade/other sectors contributed 39% Industrial Production in Pakistan averaged 4.57 percent from 1990 until 2020, reaching an all time high of 35.15 percent in April of 1991 and a record low of -42.03 percent in April of 2020. There is potential to increase this if Pakistan moves towards man-made fiber by adding value to it. The income of a worker in the industrial sector will be higher on average than that of a worker in the agricultural sector.