Pakistan has experienced varying economic conditions under different rulers since independence in 1947. The early years from 1947-1958 focused on economic planning and development as the new nation took shape. Rapid growth occurred from 1958-1968 under Ayub Khan as the private sector expanded. However, income inequality also grew. Zulfikar Ali Bhutto's rule from 1971-1977 saw a downturn as policies became more restrictive. Zia-ul-Haq from 1977-1988 liberalized the economy and benefited from foreign aid, fueling a second economic revolution. Democracy returned from 1988-1999 but instability remained. Pervez Musharraf oversaw growth from 1999-2007 before economic indicators showed failure by 2000-2003. The current era from

1. Era’s In Pakistan
Economy
Iqra Akram

2. Laying foundations (1947-58)
 Newly independent nation, with little industry, few
services and no manufacture.
 Decade of management and planning
 economic policy and planning witnessed the
attempts of a bureaucracy to keep Pakistan on its
feet
 State sector as the private sector was still in
embryo
 Windfall gain made by the mercantile class
during and after the Korean War (1952)

3. The Decade of Development:
1958-1968
 The 1960s stands out as the decade with best
performance, it was Ayub Khan’s era
 Growth rates in 1960s were very high in all
sectors
(Agriculture, GDP, Manufacturing, Commodity
producing sector, service sector). Growth in
excess of 20% per annum
 Capitalist economy , and private sector play
significant role
 Controversial decade for the type of economic
policy pursued
 Income inequality 5 million people fell below the
poverty line.
 Exchange rate was overvalued

4. Economic growth in Ayub
Khan Era

5. The bad luck years: 1971-77:
 It was the era of Zulfiqar Ali Bhutto
 Economic policy were more illiberal , it was
the major cause for a huge downward trend in
growth
 Deindustrialization
 Privatization
 Inflation
 Partition of EAST PAKISTAN

6. The Second Military Government:
1977-88
 Zia Ul Haq’s era, is often regarded as a
period of great purge and growth of state-
sponsored religious traditionalism
 General Zia-ul-Haq's long eleven-year-rule
era features the country's first Technocracy
(experts in technology) and had no politicians
from any parties in his government.
 He then introduced strict Islamic law in 1978

7. The Second Military Government:
1977-88
 Trend of liberalize the economy was
escalated consciously in the Zia’s period, the
Soviet invasion of Afghan and the excessive
involvement in PAK’S by the USA, that
increase growth
 Middle East and aid from abroad helped
launch PAK’S second economic revolution( 1st
was Green revolution)
 General Zia’s martial rule inflicted deep-
rooted damage of Pakistani society

8. Third Democratic Era
(1988–1999)
 Democracy returned again in
1988 after the general
elections which were held after
the death of General Zia-ul-Haq
 Peoples Party back into
the power politics. This
period, lasting until 1999
 Introduced the parliamentary
system and two-party
democracy

9. Third Democratic Era
(1988–1999)
 Pakistan was ruled by elected civilian
governments, alternately headed by Benazir
Bhutto and Nawaz Sharif.
“Today, we have settled a score and have
carried out six successful nuclear tests"
(Prime minister Nawaz Sharif announcing the tests on May 30, 1998)
 Under Nawaz Sharif's leadership, Pakistan
became the seventh nuclear power
country, the first country in the Muslim
world, as well as a declared nuclear-weapon
state.

10. Third Military Era (1999–2007)
 12 October, 1999 General Pervez Musharraf
took control of the country and impose Martial
law
 The Musharraf’s rule prove to be a growing
period of economy , where every sector of
economy was growing
 Musharraf economic policies keep the
economy to grow for a short time period

11. Economic Indicator Of Failure:
2000-2003
 Illiterate adults 57%
 Illiterate female adults 72%
 Population below poverty line 34%
 Without access of health services 45%
 Without access of safe water 12%
 Without access to sanitation 39%
 Malnourished children 38%

12. Fourth Democratic Era
(2008–present)
 In 2008 parliamentary elections, Asif Ali Zardari of
the Peoples Party was elected President of
Pakistan.
 After the elections, the Peoples Party - with
its Yousaf Raza Gillani as the Prime minister
 Pakistan's external debts are $ 56 Billion as of
June, 2010
It was $ 38.86 Billion at end-March, 2007
 Economic growth was 7% in 2006-07 and it is 4%
in 2009-10

13. Fourth Democratic Era
(2008–present)
 Following endless procrastination of Syed
Yousaf Raza Gillani in probing corruption
charges as ordered by the judiciary.
 Raja Pervaiz Ashraf of People's Party took
oath as the 17th Prime Minister of Pakistan on
22 June 2012

14. Summary Of Growth In
Different Ruler Era’s