Preview

Impact of Nationalization on Pakistan.Docx

Good Essays
Open Document
Open Document
2001 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Impact of Nationalization on Pakistan.Docx
Impact of Nationalization on Pakistan's Economic development
" We would have had the likes of Birlas and Tatas but for nationalization."
Nasim Saigol, Interview with Business Today, India. March 22-April 6,1992
" Had we gone at the rate of growth during the decade of 1960's, I reckon we would have definitely been an Asian tiger by now"
Abdul Hameed. M. Dadabhoy, Interview with Daily Dawn September 9, 1995.
Bhutto's nationalization broke some of the 22 families financially but several of them were also broken in body and spirit, with the result that they disposed off industaries that escaped nationalization or self-imposed a moratorium on new projects. Farooq A Shaikh of Colony group, one of the major affectees of nationalization remarked in an interview with author that top Pakistani industrialists not just lost industrial units to Bhutto's nationalization policy, they lost the urge to invest in Pakistan.
" We concluded regretfully that it was a bad judgement on the part of our group to have remained exclusively confined to Pakistan. It was like putting all the eggs in one basket", he said while noting that several industrialists particularly those from Karachi had resorted to flight of capital, ahead of Bhutto's nationalization and were able to comfortably live out the Bhutto era in Europe or United States on business ventures set up there.

Karachi based business communities of Memons, Khojas and Bhoras had led the first wave of industrial development in Pakistan but it were they who suffered most in the seperation of East Pakistan and Bhutto's nationalization. These business communities had been seasoned by persecutions of different types in their abodes in India and elsewhere, particularly, Burma, and therefore, they responded in the only way that was expected in such a situation , i.e switch over investment and move abroad. It is not surprising that several leading industrial families of the 1970 era have not set up a single big industrial project

You May Also Find These Documents Helpful

  • Good Essays

    Large businesses are gaining power by bribing judges ("Pakistan"). The judges are supporting the businesses allowing them to take more power. This is like Napoleon bribing other pigs so he can gain power. The government of Pakistan has restricted the citizens multiple times to ensure they keep power. When Zia-Ul-Haq instated martial law for 8 years ("Mohammad") the general was trying to keep his power by instating Martial law so the citizens could not impeach him.…

    • 1004 Words
    • 5 Pages
    Good Essays
  • Better Essays

    The partition of India in August 1947 was a highly controversial event and has led to widespread speculation regarding its causes and consequences. Orthodox historians credit the creation of Pakistan to Muhammad Ali Jinnah, the leader of the All India Muslim League, and his determination to create a sovereign state for Indian Muslims. However, this view has been contested by a number of historians, who place responsibility for the partition on the political manoeuvring of the Congress and the constitutional reforms of the British Raj. Existing communal tensions and Hindu-Muslim differences have also been blamed for the split. Revisionist historians question whether Jinnah even wanted partition and have suggested that the 'Pakistan' demand was simply a bargaining counter to gain recognition for Muslims. I am going to analyse each interpretation of the event and question the true causes for partition.…

    • 2129 Words
    • 6 Pages
    Better Essays
  • Powerful Essays

    Dividend Policies

    • 2067 Words
    • 9 Pages

    The dividend irrelevance theory is a concept that is based on the premise that the dividend policy of a given company should not be considered particularly important by investors. Further, the terms of that dividend policy should not have any bearing on the price of the shares of stock issued by that company. With this particular financial theory, the idea is that investors can always sell a portion of their shares if they want to generate some amount of cash flow. As with most investment theories, the dividend irrelevance theory has its share of supporters and detractors.…

    • 2067 Words
    • 9 Pages
    Powerful Essays
  • Good Essays

    Future of Jit

    • 672 Words
    • 3 Pages

    If we really look internationally then we can very well judge that behind all MNC's success there is a just a smart management which have used tactics like JIT, and now we can see the difference just note if you can recall any 1 Pakistani international brand? We all will answer no, and the main reason implementing policies like this will make us compete in international market.…

    • 672 Words
    • 3 Pages
    Good Essays
  • Good Essays

    The Pakistan Army is at war with its own people in Balochistan and FATA. The fragmented Pakistan with internal weakness and external threats is unable to refuse the Americans Orders, to get its legitimate right of Kashmir, to secure its borders with Afghanistan. Foreign investors, especially the overseas Pakistanis are examining the fear factors in opening new ventures due to corrupt financial institutions and violent groups. Consequently the vicious circle of poverty expands aggravating the already inflamed situation. The secret agencies of enemy countries find local terrorists to disrupt the system. Under the thick air of jealousy, non construction of Big dams is pushing the country into dark ages. A common citizen, suffers worst type of corruption and thus is uninterested in paying taxes. Social values, crime rate, and national patriotism, religious satisfaction are fast disappearing with growing poverty. Disengage of a citizen in election process is a clear indication of general masses’ hatred against the political, religious and military leadership. Individuals are becoming self oriented, preferring their self interest to the national…

    • 3511 Words
    • 15 Pages
    Good Essays
  • Powerful Essays

    Javed A.Ansari College of Management Science PAF-Karachi Institute of Economics and Technology The United Nation Industrial Development Organization’s (UNIDO) annual review of industrial performance contains important insights for Pakistani policy makers. It provides overwhelming evidence to show that Pakistan is rapidly losing ground in world manufacturing market.…

    • 1777 Words
    • 8 Pages
    Powerful Essays
  • Good Essays

    Nationalization

    • 534 Words
    • 3 Pages

    Nationalization is a general policy which beings a whole sector of the economy into public or state ownership, usually indicates an attempt to make a fundamental shift in the organization of the industry within a host economy.…

    • 534 Words
    • 3 Pages
    Good Essays
  • Good Essays

    When Pakistan came into being in 1947 it deverses to called an agricultural country but as the time passes unfortunately it goes down in agriculture sector also. At the time of independence the range share of West Pakistan GDP from agriculture was around 53 percent. More than 65% of the Pakistan’s labor force worked I agriculture sector and at that time Pakistan export its agriculture product to different countries. But as the time passes Pakistan unfortunately did not perform well in agriculture sectors and now the condition it this that Pakistan import certain products for use from numbering countries like onion, potato, tea and new the agriculture contribute to mere 24 % to GDP. The population employed in agriculture has also fallen…

    • 517 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    Chapter 01

    • 1275 Words
    • 4 Pages

    Pakistan is under developed country and it is still in developing phase. Pakistan has got a traditional business style rather than a corporate business style. Recently Pakistan has seen economic and there has been a surge in increase of unlisted companies, most of those owned by single owner or a family. Most of Pakistan’s business sector contain small to medium business entities and those entities are run in traditional rather than in corporate way, unlisted companies or business entities have reached a mark of 50000 in comparison to 5000 listed companies, a data provided by The Securities & Exchange Commission of Pakistan. Many have done work to know about working environment and business structure of small and medium business entities which are run by single owner.…

    • 1275 Words
    • 4 Pages
    Satisfactory Essays
  • Powerful Essays

    Risk-Based Lending

    • 19787 Words
    • 80 Pages

    Non-Bengali entrepreneurs and the public sector nearly monopolized economic activity in the Pakistan era. Of the very few Bengali business professionals active in East Pakistan fewer yet survived the war. Post independence Bangladesh therefore presented a unique set of opportunities and problems for the private sector. The good news was that without the stranglehold of the elite Pakistani business families the field was wide open for the development of a homegrown Bengali private sector; but the bad news was that both a capital base and an entirely new entrepreneurial class would have to be developed out of an economic vacuum.…

    • 19787 Words
    • 80 Pages
    Powerful Essays
  • Good Essays

    Federalism in Pakistan

    • 1033 Words
    • 5 Pages

    Federalism is a system in which power is shared between one general and several regional or provincial governments. Power in this system is divided in such a way by the constitution that neither government has lesser powers than the other. To maintain this equal status by both levels of government, three conditions should be met; each government should have control over its finance in order to carry out its operations, no government should interfere in the decisions of the other, and no government should have the right to change the division of powers according to the constitution. The essence of federalism lies in the fact that the Centre should not interfere in provincial matters and vice versa.…

    • 1033 Words
    • 5 Pages
    Good Essays
  • Better Essays

    Pakistan as a Super Power

    • 1458 Words
    • 6 Pages

    The defeatists, uttering doomsday scenarios, will question our proposition. These elements have always infused distress, despondency, and despair among the masses. Pakistan has survived many odds since its birth. To the dismay of its detractors, Pakistan has achieved a reasonable degree of self-sufficiency in food and other essential commodities. The poverty level has declined to 25%, while wealth distribution has been relatively much better compared to many developed and developing countries.…

    • 1458 Words
    • 6 Pages
    Better Essays
  • Good Essays

    I always believed that Pakistan could never truly progress in these sectors due to the attitude of its leaders and general public alike. However, I was pleasantly surprised during my visit to the colonies of Fauji Fertilizer Company, Goth Machhi and Engro Fertilizer Limited, Daharki. The organization and discipline ensured by the colony authorities was remarkable. Traffic rules were religiously obeyed and it was perfectly safe for a bunch of girls to go for a stroll at night. I never imagined I would live to see the day when Pakistani people would achieve these two things, let alone find them presently existing in some corner of this massive country.…

    • 430 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Entrepreneur Awareness

    • 474 Words
    • 2 Pages

    The Pakistani state was born out of the partition of India an event that was characterized by conflict, lasting enmities, a mass migration and the birth of a theological state. It was formed on August14, 1947 and still after sixty six years of formation Pakistan is a under-developed country. Still, we are forced to go towards international monetary fund for the stabilization of our economy. Still, we ask our allies i.e. China, America and Saudi-Arabia for help. Still, we are trying to find energy resources to fulfill our need of energy. It is due to lack of awareness of entrepreneurship that how much it is important for our country. How it can help in improving economy of Pakistan.…

    • 474 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Ecnomic Growth

    • 1258 Words
    • 6 Pages

    Economic development must be conceived of as a multi-dimensional process involving major changes in social structures, people 's attitudes, national institutions, acceleration of economic growth and reduction of inequality.…

    • 1258 Words
    • 6 Pages
    Good Essays