Industrial (or secondary) sector Industry is the segment of economy concerned with production of goods (including fuels and fertilisers). This further supplies to sugar industries for the production of sugar and other by products which has great market. The paper analyses its continuation in the growth of the economy in general and the development of trade and genera tion of employment in particular. The agriculture sector also provides a large amount of raw material to the industrial sector. Contribution In GDP: Pakistan Industrial Sector is the second largest individual sector of the economy accounting for 20.88% of the GDP. Main Sector of Economic Development: Industry is viewed as leading sector to economic development. Large Scale manufacturing covers the establishments registered under factories Act 1934 or qualifying for registration (having 10 or more employees) including Repair and Service Industries. Abstract: The services sector has provided steady support to Pakistan’s economic growth. Contribution of major crops in agriculture sector is about to be 25.6 % and contribution of major crops in GDP is almost 5.4% according to the economic survey of Pakistan. In 2013, primary sector had a growth rate of 3.3%, 3.5% of secondary sector and 3.7% of tertiary sector. 7- Source of National Income. Pakistan’s proven energy reserves According to the 2018 Pakistan Energy factbook, the country has recoverable oil reserves of (1,247 million barrels), gas (57.4 Trillion Cubic Feet (TCF)), and coal (186 billion tons). 3. Phase 2 (1958-1969): 1. Sugarcane is also a cash crop and food crop. This sector comprised of large, medium and small-scale. The urban/industrial economy is an essential part of the process of industry is also the main non-farm formal sector creating economic development. The contribution of the telecom sector to the public exchequer during the first two quarters of FY 2017-18 was recorded at Rs78.62 billion in terms of taxes, regulatory fees, initial and annual licence fees, activation tax and other charges, stated the Economic Survey. ADB operations in Pakistan will increase significantly in the next 3 years with continued focus on energy, natural resource management, urban development, transport infrastructure, and institutional reforms, as well as re-engagement in education and health. The security of capital must be assured and the degree of bureaucratic control to be minimized. Source of employment: Pakistan as developing economy the employment on consistent level has much importance. Ayaz Ahmed and Henna Ahsan () . In 2020, 35.89 percent of the workforce in Pakistan worked in the agricultural sector, about a quarter worked in industry, and 38.32 percent in the services sector. Wheat contributes approximately 10.3% in agriculture. In 2017 it recorded a growth of 5.02% as compared to the growth of 5.80% last year. 29% [B]. Being students of a reputable institution "Hailey College of Banking & Finance Punjab University"" we are thankful to our Professor Farah Naz Naqvi who sparkled our presentation skills and taught us to visualize the practical picture of the Economy. The services sector has provided steady support to Pakistan’s economic growth. Economic growth in Pakistan has historically remained volatile, lacking a steady growth path and adding to the economic uncertainty about the country’s economic conditions. Pakistan is an independent state located in South Asia and ranked as the world’s 55th country with the largest factory output. Downloadable! Pakistan's nationally determined contribution (PAK-NDC), 2016 . This industrial policy emphasis on private sector and the development of agro-based industries. 19% [C]. MBA (IRM) students Presentation on Industrial Sector Pakistan. Contribution of industrial sector in Pakistan economy is: [A]. Economic development depends upon number of factors. Growth poles of Pakistan's economy are situated along the Indus River, diversified economies of Karachi and Punjab's urban centers. Pakistan economy is positioned at 27th largest economy with 488 (1) billion USD in term of Purchasing Power Parity. https://dsc1education.blogspot.com › 2015 › 07 › economics-of-pakistan-bcom… The sector contributes about 25% towards GDP which is the highest of any other economic sector. 9. Technology is an important factor for economic development of a country. This sub-sector has witnessed a growth of 9.05 percent against the growth of … Pakistan is arguably one of the biggest economic blindspots in the world. The points stated below explain in detail the role of agriculture in the economic development of Pakistan . Sugar industry is also one of the major sectors of economy which has great importance according to development of economy. 2. The country has experimented with several economic models during its existence. In the case of Pakistan (see Figure 1-2 above), the structural change has been tilted towards the services sector. Source: Pakistan Economic Survey 2002-03, 2008-09 and Bureau of Statistics data on GDP up to 2009. The law and order situation must be improved. The services sector has provided steady support to Pakistan’s economic growth. Pakistan’s GDP. This sector is the major source for supply of labor force to industrial sector due to farm mechanization and disguised unemployment. Manufacturing sector comprises of two sub-sectors viz. undetermined: Answer: Option B Although policymakers in the least employment opportunities for the poor. Industrial output is a component of the GDP of a nation. Sugar cane is produced on very large scale in many areas of Pakistan. All the developed and under developed countries are now making efforts to install improved technology in all sectors of economy agriculture, industry, transport, banking, health, education etc. Economy. Augmented Dickey Fuller (ADF) and Philip Perron unit root test, ordinary least square and granger causality test have been used. This study investigates the contributions of banking sector in economic growth of Pakistan. The study identifies the bottlenecks in its growth and suggest measures to remove them. Pakistan and ADB. The paper analyses its continuation in the growth of the economy in general and the development of trade and genera tion of employment in particular. 9% [D]. The modern concept of industry … Pakistan handed in its first NDC in November 2016. Historical data suggests that the economy reached a high of above 10 percent growth level in 1954, but the following year it declined to 2 percent and went up again to above 9 percent in 1969 and 1970. At the time of partition, contribution of agriculture sector to GNP was 60%, which decreased to 29.4% in 1980-81. Similar to other economies, FDI inflows in tertiary sector has shown a massive increase as compared to other sectors of Pakistan’s economy. Manufacturing is secondary economic activity after agriculture. Pakistan Industrial Technical Assistance Centre (PITAC) was established in 1956. Pakistan has been a backward country in industrial sector due to different historic, political and economic causes. Origin & History: Since the latter part of the 18 th century manufacturing as a human occupation got much importance. After several experiments in economic restructuring, Pakistan currently operates a mixed economy in which state-owned enterprises account for a large portion of gross domestic product (GDP). Large Scale Manufacturing and Small Scale Manufacturing. This sustained strong economic performance goes against the accepted wisdom that even though the mining sector, like other extractive industries, can generate foreign exchange and fiscal revenues, it contributes little to sustained economic growth and, by extension, human development. Unit root test confirms the stationary of all variables at first difference. This is totally agricultural based industry. This phase witnessed the massive industrial growth in the country. The paper analyses its continuation in the growth of the economy in general and the development of trade and genera tion of employment in particular. Agriculture is also the major source of provision of raw martial to industrial sector of Pakistan. Telecom Sector contribution to Public Exchequer Economic Survey 2017-18 Image Credits: Ministry of Finance. Although formally, on average, the construction sector has contributed between 2.3% and 2.85% in the last five fiscal years to Pakistan’s GDP (it was valued at Rs 316 billion in the Pakistan Economic Survey 2019-20), most economists estimate its value to stand between 10 and 12% of the total GDP. Unfortunately the IT sector has not been given the same industry status as textile and other industries, and this has impacted its development. It share in GDP now stands a more than 50 percent. Working Papers from eSocialSciences. Role of Agriculture in GDP of Pakistan. Pakistan has a semi-industrialized economy, which mainly encompasses textiles, chemicals, food processing, agriculture and other industries. Backward industrial sector is the second major sector of the economy of Pakistan. Service (or tertiary) sector A service is the non-material equivalent of a good. In 1958, a military government of Ayub came into power in Pakistan and announces a new industrial policy in 1959. It share in GDP now stands a more than 50 percent. Its contribution towards GDP is about 25% which is higher than contribution of any other sector. The data used in this study were collected from the period of 1981 to 2010 o 10 banks. It share in GDP now stands a more than 50 percent. For the revival and growth of the industrial sector, these problems should be solved. The country's industrial output is approximately 4% of the country's GDP and has cotton textile production and apparels manufacturing as the largest industry in the country accounting for 66% of all export items and employs approximately 40% labor force in the industry. Following are the main points of importance of agriculture for Pakistan economy. Current GDP of Pakistan is 305 billion. With a population that, by some estimates, will pass 220 million in 2020, and more than 100 million Pakistanis under the age of 25, the country is well positioned to play a growing role in the global economy over the next decade. Contribution of Services Sector in the Economy of Pakistan. So production and employment will increase rapidly. The study identifies the bottlenecks in its growth and suggest measures to remove them. Industrial sector plays an important role in the development process of any country. It share in GDP now stands a more than 50 percent. We can have economies of scale by applying advanced technology and division of labour and scientific management. Construction is considered as one of the potential components of industrial sector in the economy of Pakistan. The services sector has provided steady support to Pakistan’s economic growth. Still, the primary sector is the driving force of the economy. The downstream sector consists of the marketing and distribution of oil and gas to the end-user in residential, commercial, and industrial sectors. So with fast growth of industrial sector, surplus labour from villages can be put into use in industry. 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