Backward industrial sector is the second major sector of the economy of Pakistan. Agriculture is also the major source of provision of raw martial to industrial sector of Pakistan. Tweet. I will keep it in mind, thanks for sharing the information keep updating, looking forward for more posts.Thanks, if anyone need sesame seeds exporter service then visit us! Industry plays a complex role in economic development, but these are some of its most important effects. It would also help invent new business models that are rapidly gaining the grounds all over the world. Manufacturing industry accounts for approximately 20% of the total output in the country, and over the last five years, the manufacturing industry has experienced an average growth of 3.4% annually. The Government of Pakistan, aware of the importance of industrialization for rapid growth and development, called an Industrial Conference in December, 1947. It increases the national income of the country. Industrial sector also helps government to stabilize price in country when goods are available in sufficient quantity, there is n0 change of increasing prices of these items. It is . Industrial Sector plays very important role in increasing exports of country major exports of our industrial sector are. For example, the time period known as the Industrial Revolution in the 18th and 19th centuries led to some of the most important economic development known to man. Industrialization provides machinery like tractors,threshers,harvesters,bulldozers,transport,spray etc to be used in the farm sector. Industrialization increases the income of the workers. Industrialization leads to migration of surplus labour from farm sector to the industries mostly situated in urban areas.In cities,improved facilities of sanitation and health care are available. Industrialization offers a range of potential benefits, including more job creation, higher economic growth, and tax revenues, but Pakistan’s policies have been skewed in favor of the primary and tertiary sectors, shortchanging to a large extent the manufacturing sector. Industrial development plays a pivotal role in economic uplift. Agriculture sector of Pakistan economy is stag nant, and its gro wth rate is slow. Industrial sector is the second largest sector of the economy contributing 19% to GDP of Pakistan and employing a large number of population of the country. Question Discuss the main problems of cottage or small scale industries in Pakistan? Industrial sector contribution to GDP (Gross Domestic Product) for the year 2009-2010 Remained 18.5% Agriculture is the major source of food of huge population of Pakistan. Industrialization provides machinery like tractors, thrashers, harvesters, bulldozers, aerial spray etc.. to be used in the farm sector. Developed industrial sector means development and economic welfare of the individuals. Question What is meant by non verbal communication and its various forms? They will make you ♥ Physics. Industrialization eliminates dependence on agriculture only. Industrial relations are human relations in industry. Manufac… Industrial development reduces dependence on agricultural exports to earn badly-needed foreign exchange. With developed industrial sector we cannot only produce substitute of imported goods but we can export them to other countries. Italy’s important industrial facilities are based on aluminum, automotive assembly, chemicals, iron Importance of Industrial Sector in Pakistan or Role of Industrial Sector In economic Development Increase in National Income: Industrial sector also contributes in gross domestic product (GDP) of country According to year 2004-05 the contribution of industrial sector in GDP is 18.3 Percent. A nation which depends upon the production and export of raw material alone cannot achieve a rapid rate people. Industrial sector plays an important role in the development process of any country. In international market, those countries are enjoying higher living standards which we industrially developed. Its contribution towards GDP is about 25% which is higher than contribution of any other sector. Discuss the main problems of cottage or small scale industries in Pakistan? 4th largest grower of cotton after USA, China and India 3rd largest consumer of cotton 3rd largest exporter of cotton textiles 2nd largest supplier of cotton yarn with 26% share of the international market If we study the history of economic development we find that the growth in national income and per capita income has been accompanied by a relative decline in their dependence on agriculture. Post Comments Question   Describe the Importance of Industrial Sector in Pakistan? Industrialization promotes specialization of labor. The use of advanced technology increases the scale of production, reduces cost of production. The IT industry of Pakistan has immense potential. They not only receive higher prices for their exports and earn foreign exchange but their financial and political condition also become more stable. Importance of Industrial Sector in Economic Development, Bise Lahore Board 11th Class Inter FA, Fsc Part 1 Past Paper 2012, Three Types of Oil and Their Natural Advantages, Ali Fatimah College Faisalabad Admission 2021 Last Date, Causes of industrial backwardness in Pakistan Types Problems, What is Fiscal Policy and its Objective Deficiency of capital, IBA Karachi National Talent Hunt Program 2021 Scholarship Application, Cadet College Larkana Admission 2021 Form Entry Test Result, Cadet College Sialkot Admissions 2021 Entry Test Result, KPITB Internship Program 2021 Online Registration Last Date. Industrial development increases the revenue of the government which is spent on the welfare of people. 3. It raises the productive capacity of the people and creates ever-increasing employment opportunities. For instance.. Industrial sector earns a good amount of foreign exchange for the country which is used for repairing national debt and for imp0rtant of machinery etc. So that they may not be discount maximum tax concessions should be given to businessman. Government should establish maximum industrial cities and zones where every facility should be provided to industrialists easily and at low rates. Its contribution towards GDP is about 25% which is higher than contribution of any other sector. Importance of Industrial Sector in Economic Development or Industrial Development Plays a Vital Role in the Economics This is a short description in the author block about the author. Increase in production will increase the national income. Discuss the role or importance of transport and communication to the economic development of the Pakistan?(P.U). Describe the Importance of Industrial Sector in Pa... Economics Of Pakistan notes /What can be the role of Govt to promote industrial development in Pakistan. Following are the main points of importance of agriculture for Pakistan economy. Better management of industrial relations in an industry is a sine qua non for the success of the industrial concern. June 06, 2020. Extension of market depends on the quantity of demand. Role of Industrial Sector in Economic Development Increase in National Income: Industrial sector also contributes in gross domestic product (GDP) of country According to year 2004-05 the contribution of industrial sector in GDP is 18.3 Percent. of Pakistan industry andeconomy. New roads, dams, buildings and parks are constructed. Industrialization increases the supply of goods both for internal and external markets. By exporting finished and industrial goods we can earn a lot of money as compared to exporting raw materials. The price stability can be maintained in the market with the help of production of industrial products.More production of industrial sector removes the shortage of supply of goods. Different Phases of Industrial Development in Pakistan. In an agrarian country people in general are illiterate. From the above discussion it is clear that no doubt Industrial sector has much importance for economic development without industrial sector no country can make progress in this modern world. Cotton textile production is the most important of Pakistan's industries, accounting for about 19% of large-scale industrial employment, and 60% of total exports in 2000/01. Importance of Industrial Sector in Pakistan or Role of Industrial Sector In economic Development Increase in National Income: Industrial sector also contributes in gross domestic product (GDP) of country According to year 2004-05 the contribution of industrial sector in GDP is 18.3 Percent. They have their own carpenters, cobblers, potters, craftsmen and cotton weavers.Many families depend on cottage industries for income. Results of previous studies are country specific and cannot be generalized therefore we are going to conduct research on relationship The rise in income raises the living standard of the people. Therefore dependence on other countries and deficit in balance of trade and balance of payments can be decreased and we may be able to save foreign exchange. Importance of Industries in Development – Industrial sector is of great Importance of Industries in Development of a country. In Pakistan agriculture provides raw material to industries. Development of industrial sector means more investment, … 2. Importance of dairy industry in Pakistan’s fight against malnutrition 95pc of dairy sector comprises of loose milk while only 5 per cent comprises of packaged milk industry, 80pc of milk production takes place in rural areas. Industrial Development in Pakistan. Pakistan Studies Assignment #1 Reference Bibliography Historical Background The industrial sector has a larger potential to contribute but is on hold due to poor policy initiatives, lack of innovation and diversification in products for meeting the needs for domestic and global consumers. For the Love of Physics - Walter Lewin - May 16, 2011 - Duration: 1:01:26. Importance of Industrial Sector in Pakistan or Role of Industrial Sector In economic Development. Industrial Sector also meets national Defense requirement. a) 1950s: The era of rapid industrial growth b) 1960s: The ere of industrial stabilization c) 1970s: Nationalization and its impacts d) 1980s: Russia-Afghan war and pro-industry policies of Zia The industry activity compared to agriculture is easy to control.The industrial production can be expand or cut down according to the prices,cost and demand of the product. At present the share of industrial sector to GDP is 6.8%. The public sector continues to dominate in steel, heavy engineering, automobiles, petroleum and defense-related production. Most villages are self-sufficient in the basic necessities of life. The industrial labour force is more skilled and specializes than in the agriculture sector because industrialization promotes specialization and skill of the labour. Industrial Sector provides employment to majority of population. Modem defense cannot be put on a sound footing unless its basic needs are met from within the country itself and these basic needs are mainly supplied by modem industry, in the present times it have become more important as we surrounded by enemies. It results in […] Syed Jawaid Iqbal. Importance of Industrial Sector For A Country. Industrial development provides political control to a nation.Countries like U.S.A,Japan,China,and U.K  are among the nations of the world because of their industrial achievement along with scientific development and progress. Cone cream plants, etc…. What is Causes of Industrial backwardness in Pakistan? Industrialization increase in employment in the country.It also provides investment opportunity to the people and savings of the people increase. The potential opportunities in the logistics industry in Pakistan, is estimated at approximately US $ 30.77 billion in 2015. Government should obtain maximum foreign AID to compensate low rate of saving so that maximum investment will take place in country. Our Country should establish labor intensive industries instead of capital intensive industries because we have cheap labor and we have shortage of capital. LAHORE: Strong linkage between industrial sector and academia is the most important tool to tackle the key economic challenges of Pakistan. Introduction Nonverbal communication is usually u... General Information what is "Amallets is ready"? An industrialized nation is always economically stronger and thus capable of defending itself against any aggression. The industrial activity compared to agricultural is easy to control. Agriculture is also the major source of provision of raw martial to industrial sector of Pakistan. Imports of country can be reduced by establishing industries of those goods that are being imported from other countries in this way national foreign exchange service can be saved. The income of worker in the industrial sector is therefore, higher than that of a worker in agricultural sector. ( Industrial Sector is also important and helpful in agricultural development. The role of industrial sector is summarized as follows: In industrialization there is optimum utilization of scarce resources. Development of industrial sector means more investment, employment and production. It is very helpful in seeking out the political and financial crises of a country. Industrialization plays a vital role in the economic development of underdeveloped countries. Industrialization provides larger possibility for on the job training and technological progress.The use of advanced technology increase the scale of production,reduces cost of production,and improves quality of product. The activity in the manufacturing sector is comprised of large, medium and small-scale. Industrialization makes possible the best utilization of the limited resources of the country.It helps in increasing the quantity and quality of various kinds of manufactured goods and thus makes larger contribution to gross national product. Manufacturing is secondary economic activity after agriculture. People through the adoption of family planning measures, reduce the rate of population growth. Share: Share. It is historical fact that countries with strong industrial sector have showed more economic growth and development industrial sector have shows improvement in national income and promoted living standard of population. The Complete Guide to Air Compressors, Industrialization plays a vital role in the economic development of the country of an underdeveloped country.The historical facts reveal that all the developed countries of the world broke the vicious circle of the underdevelopment by industrialization.Pakistan being a developing country also wants to achieve higher standard of living for its masses.It has ,therefore,embarked upon various programs of industrialization.The policies of privatization,deregulation and liberalization of the economy are being pursued.The role of Industrialization in economic development is summed as follows. The voluntary savings stimulate industrial growth and by cumulative effect lead to further expansion of industry. Defense is very important requirement of every country industrial sector provide modern arms and other equipment’s for defense. The income of the labor, due to higher productivity increases. Cotton and cotton-based products account for 61% of export earnings of Pakistan. Ans: What is meant by non verbal communication and its various forms? Industrial Sector and Its Components. The customs excise duties and other taxes levied on the production of goods increase the revenue of the state. In this way deficiency of investment can be made up. The state of any country’s economic growth and development generally heavily relies on the strength of its infrastructure, whether that is in its energy, telecommunications, water and sanitation, transport or education sector.. After the 1947 partition of British India, the development of infrastructure in Pakistan grew and has made steady progress in the last five decades. Similarly Italy’s industrial production is dependent on a number of minerals, its industrial Sector accounted for about 25.2% of GDP in 2010, which was a 0.2% increase from the previous years. ). Causes of industrial backwardness in Pakistan are different types and nature these problems can be solved with sincere efforts of governments. The industrial Production growth rate during the year 2005 remained 6%. Reduction in the Rate of population Growth. Cotton textile production and apparel manufacturing are Pakistan's largest industries, accounting for about 65% of the merchandise exports and almost 40% of the employed labour force. 2. Agriculture, minerals, transport and communication trade and other sector of the economy mainly depend on industrial sector. Government should maintain law and order in country so that security of life and property will be given to business and they will fed comfortable and will be ready to invest in country. constructed. The quality and quantity of manufacturing sector increase. Industrial sector is also plays great role in social welfare this sector meets different needs of society like food and fiber requirement of population. Governments Should Promote saving Culture in the Country by introducing different attractive schemes to public of country. In Pakistan, cottage or household industries hold an important position in rural set-up. It is mainly dependant on capable people. The increased use of modem inputs has increased the yield of crops per hectare. Cotton is very important agricultural production which is … For economic development industrial sector play a vital role in increasing the production of goods which result in an increase in exports. Industrial sector increases revenue of Government because industrial sector pays different type of taxes to government like. According to one estimate more that 50% of total labor force is employed in industry. Issues regarding absence of payment gateways, research and development, delay in roll out of 3G technology, licensing and education have created difficulties as well as limited the growth of the Pakistani IT industry. Industrialization increase the income of the workers.It improves their capacity to save.It provides investment opportunity to the people. Industrialization provides increased employment opportunities in small- and large-scale industries. The division of work increases the marginal value product of labor. Development of industrial sector means more investment, employment and production. In an industrial economy, industry absorbs underemployed and unemployed workers from the agricultural sector, thereby increasing the income of the community. Our country is developing country and we should establish small and medium enterprises (SME) Instead of large scale because we have less finance to run large scale industry. Of large-scale industrial employment management of industrial relations in an increase in the world, and gro... Is used in the country user admin panel linked to the price, cost and demand of finished products and... 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