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A Critical Evaluation of Strategies of Economic Development Planning in Pakistan during Last 30 Years: Way Forward

Author

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  • muhammad islam, Muqeem

Abstract

Planning has remained the main component of the growth strategy adopted by nations to accelerate their growth in recent times. Being cognizant of the importance of the planning process, the Government of Pakistan, since its inception, has made various strategies for economic development based on the principle of balanced and sustainable growth. Pakistan has progressed, yet the pace has not been fast and diversified enough to substantially improve the living standards of the people and push the country from the lower income to the upper-middle-income group. The overall and sectoral growth path has remained uneven and bumpy. There have been periods of high, moderate, and slow economic growth and sector performance. The incidence of poverty and income and wealth disparity has remained high. Thus, the overhang of macroeconomic imbalances coupled with political uncertainty and structural problems has inhibited the long-term growth prospects of the economy

Suggested Citation

  • muhammad islam, Muqeem, 2023. "A Critical Evaluation of Strategies of Economic Development Planning in Pakistan during Last 30 Years: Way Forward," MPRA Paper 124389, University Library of Munich, Germany, revised 2023.
    • Handle: RePEc:pra:mprapa:124389
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    More about this item

    Keywords

    Planning; Economic Development; Sustainable Growth; Income Disparity; Macroeconomic Imbalances;
    All these keywords.

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development

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