INDUSTRIAL DEVELOPMENT IN PAKISTAN*

Abdul Razzaq Kemal

Pakistan Journal of Applied Economics, 1998, vol. 14, 107-119

Abstract: As the manufacturing industries of Pakistan have grown sharply since Independence, they have suffered from gross inefficiencies; resulting in enormous cost to the economy. The cost was as high as 5.7 per cent of GDP in 1980-81 slightly falling to 5 per cent by 1990-91. The study calls for a protection structure that accords with dynamic comparative advantage of the country for an improvement in industrial efficiency. It points out the need for consistent economic investment levels. The study shows that as the import-substitution was a major source of demand in the initial stages, the domestic demand has been the major source of growth in the subsequent periods. The study also suggests both the stimulation of domestic demand and higher level of investment for an industrial recovery.

Date: 1998
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