Agricultural Changes in Pakistan: An In-Depth Analysis of Agricultural Policies Comparing Military and Civil Governments (1971-1989)
Agriculture is the life line of Pakistan. It plays a major role in contribution for the GDP. Pakistan has seen a lot of change in government policies from its advent. Agriculture is the most important economic sector of Pakistan. In this paper it was analyzed the agricultural policies of Zia-ul-Haq and Zulfiqar Ali Bhutto. This comparison was in order to critically analyze the military and civil governments for their contribution to Pakistan and its future. This paper is a pure Qualitative research on route of exploration. In addition to exploratory, this study also used ethnographic, explanatory, descriptive and historical methods to gain contextually grounded insights into functioning of Pakistan’s agricultural policies. It was found that mostly the rulers of Pakistan emphasized upon extending their rules and for this extension they used every negative means. Instead of being remembered in the history for their high-end results and futuristic approach they controlled the masses by un-achievable promises and vague goals. If the previous rulers would have done something good for the economy of Pakistan after 1971, there would have been quiet a boom in the economy and the economic and energy crisis we are facing now wouldn’t have been our fate. Key w ords : Agricultural Policies, Economic Impact, Military regimes, Civil Regimes
Money Supply, Inflation and Economic Growth: Issues in Monetary Management in Pakistan
Given the conditions prevailing in 1948 the SBP adopted a monetarist approach so far as achievement of price stability was concerned. One of the objectives of money policy was to develop the various aspects of the financial sector particularly the banking system. In this context monetary policy gave importance to the asset side of the banking system. Thus, upto 1960 the bulk of monetary expansion was on account of credit to the government sector.
Agricultural Policy and Productivity: International Evidence
The aggregate agricultural production function is estimated jointly with a political model that explains differences in policy across countries and over time to test the hypothesis that agricultural policy has had a significant impact on aggregate agricultural productivity. The econometric results strongly support this hypothesis. However, this productivity effect is found to be large and statistically significant only for those countries that tax or subsidize agriculture moderately. In countries that tax or subsidize agriculture at a high rate, the impact of marginally-reducing the tax or subsidy rate is not found to be significant, presumably because high levels of taxation or subsidization distort farmers' incentives to such a degree that marginal changes in policy do not measurably affect their behavior.