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PRESENTATION ON EIGHTH DEVELOPMENT PLAN OF PAKISTAN (1993 TO 1998)
Presented by:
Group A
Group Members
Muhammad Raziq
Naeem Ullah
Junaid Sherazi
Noor Hussain Shah
Mansoor Ahmad
CONTENTS
• Approval
• Size
• Primary objectives
• Balances
• Objectives
• Strategy
• Targets
• Achievements
• Constrains
• conclusion
• The Eighth Five Year Plan was developed by the Economic Coordination Committee (ECC) & approved by the National Economic Council (NEC) on May 31, 1994 in the Govt of Benazir Bhutto.
Size of Plan:On 1992-93 prices, the size of the plan was Rs. 1701 billion while its size goes to Rs. 2092 billion on 1993-94 prices.
Primary Aim of the Plan:
• Sustained economic growth
• Macroeconomic stability
• Equity and justice.
AIM TO ACHIEVE 5 BASIC BALANCES
• Public & private sectors
• Inter & intra sectoral balances
• New investment & use of existing capital stock
• Project preparation & implementation
• Committed & available resources.
OBJECTIVE OF THE PLAN
• To attain 7% p.a. growth in GDP (including 4.9% in agriculture and 9.9% in manufacturing sector)
• Encourage participation of people in development process
• Generate additional employment opportunities
• Reduce poverty
• Self-reliance, particularly in food, energy, public finance and external balance
• Conserve natural resources and ensuring protection of environment
• Promote good governance
• Ensure macroeconomic stability and discipline
STRATEGY FOR THE PLAN
• Focus on ensuring and strengthening individual initiative, private enterprise and market mechanism
• Public sector development programs
• Privatization
• Tax collection
• Employment will be promoted by expanding productive revenues
• Reduction of poverty by providing equal opportunities to the society
• Encourage High levels of saving and investment
• Self-reliance will be promoted
• Expanding exports and foreign exchange earnings
• Self-sufficiency in the production of food grains, and utilization of indigenous source of energy and fuels
• Local technologies development
TARGET OF PLANEconomic:
• To attain 7% p.a. growth in GDP
• The agriculture growth rate at 4.9%. Wheat production to grow by 22%, cotton production to grow by 61% and rice production to grow by 31%.
• Industrial growth rate at 9.9%.
• Fertilizers production to grow by 60%,
• Cement production to grow by 54%,
• Sugar to grow by 54%,
• Petroleum products to grow by 50%
Social, Education, Health & Environment• Reduce poverty
• Increase literacy rate to 50% from 34%
• New Schools, hospitals & Basic Health Units
• Reduce Population growth rate to 2.7% from 3.1%
• Increase in forestry by 4%
• Pollution reduction
Infrastructure:• Indus Highway
• Lahore-Islamabad Motorway
• Makran Coastal Highway
• Gawadar port
• Water supply for irrigation to71% from 47%.
Power:• Increase in oil & Gas exploration up to 38%,
• Ghazi Barotha Hyderl Power Project
• Hub Power Project
ACHIEVEMENTS
• During 1993-94 reinforcement of privatization policies, deregulation and market friendly environment
• Public-private partnership
• Manufacturing during 1995-1996 grew 4.8%. That was previously 2.9% in 1994-1995.
• The large scale manufacturing grew by 3.13% during 1995-96
• Health reforms
• Infrastructure
• (Motorway, Makran coastal highway)
CAUSES OF FAILURE OF THE PLAN
• Un-stable political condition
• Budget deficit
• Low fiscal revenue
• High rate of imports than exports
• Low growth rate of manufacturing sector (1.8%, previously was 4.4%)
• Underutilization of resources & poor policies
• Nuclear exposure and foreigner resistance
CONCLUSION
• The plan was collapse due to the non-implementation of strategies and policies.
• No specific target was chase except fewer
• No accurate data of population and resources
• Political un-stability broke the consistency chain.