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.