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Economic conditions of PakistanPast & Present

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First Era (1947-1958)

Features Foundation Era

Decade of Development Agri. based economy

80% people belong to villages

West Pakistan specialized in Cotton & Jute production

No infrastructure

First few years spent in grappling with immediate problems Irrigation & communication system were to be dealt with

Political situation & economic situation were contradictory to eachother

Food Shortage

Huge burden of foreign debts

Positive impact of industrialization 1950s Korean war

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Historical Timeline: First Era(1947-1958)

Refugees were to be dealt with

Withholding of Assets Undivided India it stood at Rs. 4000 Million

Pakistan to receive an amount of 750 Million rupees

Indus water 1stApril, 1948, India cut off the supply of water

Indus water treaty 1960

KashmirIssue Maharaja Hari Singh decided to go to Indian union

78% people were muslims

Asked Hindu paratroopers to open gun fire

Sardar M. Ibrahim setup Azad Kashmir Government and act accordingly

July 1949, ceasefire line was demarcated

Quaid-e-Azam Muhammad Ali Jinnah sad demise Started new independent currency

Inaugurated State Bank of Pakistan

Shifted to Ziarat for restoration of health

Passed away on 11th September, 1948

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Historical Timeline: First Era(1947-1958)

1948; Khuwaja Nazmuddin:2nd Governor General 4th Jan. 1950: GOP recognized Peoples Republic of China

6th Sep. 1950: First C-in-C appointed

Liaquat Ali Khan first prime minister Administrative base for the country

Refugees problem

Development of solid grounds for foreign policy

Objective resolution on 12 March, 1949

Plebiscite to be held in Jamu & Kashmir

May 1951, way to USA

Establishment of NBP in November 1949

First paper currency mill in Karachi

October 16,1951; assassination took place

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Historical Timeline: First Era(1947-1958)

Oct. 17, 1951; Malik Ghulam Muhammad Governor General

Khuwaja Nazmuddin took charge of Prime Minister ship

April 17 1953; M. Ali Bogra became Prime Minister Unknown person from East Pakistan

August 7 1955, P.M. Ch. M. Ali

October 6 1955, Sikindar Mirza took resignation from GhulamMuhammad

23 March 1956; Pakistan first Constitution was promulgated Sikandar Mirza; 1st President of Pakistan took charge

14 May, 1956; Ch. M. Ali presented first five year plan

12 Sep. 1956 Hussain Suharwardy; next Prime Minister

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Historical Timeline: First Era(1947-1958)

I.I. Chundrigarh as Prime Minister

Interim Prime Minister

Weak starting

16th Dec. 1957 Malik Feroz Khan Noon

7th Prime Minister

7th Oct. 1958; Pakistan first Martial Law

General Ayub Khan; first chief martial Law administrator

Sikandar mirza was exiled

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Historical Timeline: First Era(1947-1958)

1948; GOP established Development Board

Planning advisory boardwas setup at same time

Colombo plan 1951-1957

Necessary infrastructure

Modern communication

Power & irrigation

First Five year plan

1955-1960

Objectives Raise national income & standard of living of people

Improve BOP; enhancing exports and substitutes to imports

Steady progress in providing social services, etc.

Opportunities for useful employment in the country

Increase rapid rate of development in East Pakistan

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GNP composition

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Imports V/s Exports of Pakistan

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Balance of trade