What is meant by non verbal communication and its various forms? 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. Cone cream plants, etc…. Pakistan Bureau of Statistics Statistics House, 21-Mauve Area, G-9/1, Islamabad, Pakistan E-mail: pbs@pbs.gov.pkpbs@pbs.gov.pk This is a short description in the author block about the author. Industrial Sector is second largest sector of our economy. 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 plays very important role in increasing exports of country major exports of our industrial sector are. Industrialization increase in employment in the country.It also provides investment opportunity to the people and savings of the people increase. Political Stability. Developed industrial sector means development and economic welfare of the individuals. By exporting finished and industrial goods we can earn a lot of money as compared to exporting raw materials. Industrial Sector is also important and helpful in agricultural development. The IT industry can play a major role in bolstering the economy of Pakistan as demonstrated by countries like India, Philippines and Singapore. 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. Agriculture is also the major source of provision of raw martial to industrial sector of Pakistan. Atom Industrial Sector is of great importance for economic development of country. The role of industrial sector is summarized as follows: In industrialization there is optimum utilization of scarce resources. Importance of Industrial Sector in Economic Development or Industrial Development Plays a Vital Role in the Economics Development of one industry leads to the development and expansion of other industries. Industrial Sector is of great importance for economic development of country. The IT industry of Pakistan has immense potential. 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. Pakistan's industrial sector accounts for about 64% of GDP. The increased use of modem inputs has increased the yield of crops per hectare. At present the share of industrial sector to GDP is 6.8%. 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 Industrial sector contribution to GDP (Gross Domestic Product) for the year 2009-2010 Remained 18.5% Its contribution towards GDP is about 25% which is higher than contribution of any other sector. 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. 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. Industrial Sector is of great importance for economic development of country. Manufacturing is secondary economic activity after agriculture. 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. 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. The construction of a transistor radio plant develops the small battery industry (backward linkage). Reduction in the Rate of population Growth. What can be the role of Govt to promote industrial development in Pakistan? Rapid industrialization is considered by the economic exports as the sovereign remedy to put our economy on a sound basis. Extension of market depends on the quantity of demand. 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. Discuss the role or importance of transport and communication to the economic development of the Pakistan?(P.U). It raises the productive capacity of the people and creates ever-increasing employment opportunities. At the time of independence we had only 34 Industrial Units. Auto glass jobs are quite challenging as technicians are required to be skilled at their task and maintain a pleasing attitude towards customers. constructed. For economic development industrial sector play a vital role in increasing the production of goods which result in an increase in exports. An industrialized nation is always economically stronger and thus capable of defending itself against any aggression. They not only receive higher prices for their exports and earn foreign exchange but their financial and political condition also become more stable. 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. 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. Articles State of SMEs in Pakistan In the industrial development of a country the importance of the SME sector cannot be overemphasized. Share: Share. Industrialization provides increased employment opportunities in small- and large-scale industries. Post Comments Manufacturing is secondary economic activity after agriculture. The industrial activity compared to agricultural is easy to control. Because it provides fertilizers pesticides, seeds, machinery etc, agricultural sector these things promotes agricultural development Question  What can be the role of Govt to promote industrial development in Pakistan? As the historical record shows, the developed countries of the world broke the vicious cycle of poverty by industrializing, rather than focusing on agricultural or the production of national resources. Industrialization is the best way of providing economic stability to the country. Most of the present economic problems in Pakistan are ultimately linked to the slow pace of industrial development. Agriculture sector of Pakistan economy is stag nant, and its gro wth rate is slow. This industrial policy emphasis on private sector and the … Pakistan has become self-sufficient in cotton fabrics and exports substantial quantities. They will make you ♥ Physics. Industrialization promotes specialization of labor. Governments should charge Minimum taxes from industrialists. 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. Agriculture is the major source of food of huge population of Pakistan. Industrialization increases the income of the workers. Manufac… Industrialization is the best way of providing economic stability to the country.A nation which depends upon the production and export of raw material alone cannot achieve a fast rate of economic growth.Many of the opportunities of investment is provided to the people. 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 Manufacturing sector is the second largest sector of economy of Pakistan and its contribution in GDP is 18.4% (Economic Survey of Pakistan, 2008-09). 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! Recommended for you Industry plays a complex role in economic development, but these are some of its most important effects. Question Discuss the main problems of cottage or small scale industries in Pakistan? Industrialization increases the supply of goods both for internal and external markets. Industrialization provides larger scope for on the job-training and technological progress. People through the adoption of family planning measures, reduce the rate of population growth. Industrial Sector provides employment to majority of population. It is very helpful in seeking out the political and financial crises of a country. Increased Production will expand the scale of production with the result cost of production will be decreased and the profit will be increased for the business people. We should establish every type of industry in every line so that we will be able to produce every product in our country and in this we can maximum Imports. According to one estimate more that 50% of total labor force is employed in industry. In Pakistan agriculture provides raw material to industries. Industrialization provides machinery like tractors, thrashers, harvesters, bulldozers, aerial spray etc.. to be used in the farm sector. Ans: Question   Describe the Importance of Industrial Sector in Pakistan? The income of the labor, due to higher productivity increases. Cotton textile production is the single most important industry, accounting for about 19 percent of large-scale industrial employment. There is a demand of finished products within and outside the country. Industrial Sector and Its Components. 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. Industrialization leads to migration of surplus labor from farm sector to the industries mostly situated in urban centers. (adsbygoogle = window.adsbygoogle || []).push({}); Copyright 2020 © LearningAll.com All rights reserved. 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. However, there is a need for significant development and promotion in order to compete with other developing countries. Industrialization increases the supply of goods both for internal and external markets.The export of goods provides foreign exchange.It also provides benefit and income to the Govt. For the Love of Physics - Walter Lewin - May 16, 2011 - Duration: 1:01:26. The quality and quantity of manufacturing sector increase. It helps in increasing the export of manufactured goods and thus earns foreign exchange. Agriculture is the major source of food of huge population of Pakistan. In cities, improved facilities of sanitation and health care are available. 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. The Industrial Revolution Historically, industrial growth has had a large impact on the economy. Government should obtain maximum foreign AID to compensate low rate of saving so that maximum investment will take place in country. The Government of Pakistan, aware of the importance of industrialization for rapid growth and development, called an Industrial Conference in December, 1947. Industrialization plays a vital role in the economic development of underdeveloped countries. The consumption of cotton increased by 5.7% over the past five years … LAHORE: Strong linkage between industrial sector and academia is the most important tool to tackle the key economic challenges of Pakistan. Industrial development increases the revenue of the government which is spent on the welfare of people. Governments Should Promote saving Culture in the Country by introducing different attractive schemes to public of country. 2. New roads, dams, buildings and parks are constructed. So in this ways this sector increases national GDP. Industrial Development in Pakistan. Following are the main points of importance of agriculture for Pakistan economy. Importance of Industrial Sector For A Country. Historically, Pakistan’s textile industry and clothing sector has always been a major contributor to the foreign exchange earner and still contributes 5. Describe the Importance of Industrial Sector in Pakistan? Industrial sector plays an important role in the development process of any country. Agriculture is also the major source of provision of raw martial to industrial sector of Pakistan. of Pakistan industry andeconomy. 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. Cotton is very important agricultural production which is … In Pakistan, cottage or household industries hold an important position in rural set-up. 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. So in this ways this sector increases national GDP. The industrial sector of Pakistan is very helpful in political stability. 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. Industrialization encourages progress in other sectors of the economy.A development of one industry leads to the development and expansion of the other industries. The division of work increases the marginal value product of labor. 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. Manufacturing in the country can be categorized into two; that is large scale manufacturing, which is valued at $28 billion and the small scale manufacturing sector, which is valued at $653 billion. 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. Pakistan is a developing country and there population growth rate is 1.573% in 2011. but the rate of increase in G.N.P is relatively low, therefore, there is general unemployment (25 %) in 2009, and disguised unemployment is increase in agriculture sector. A nation which depends upon the production and export of raw material alone cannot achieve a rapid rate people. Defense is very important requirement of every country industrial sector provide modern arms and other equipment’s for defense. 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. Customary traditional and backward in thinking industrial starts running on the path of development. 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. 3. 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. 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. It the above steps are taken by the government sincerely and at proper time and with full commitment. The same is true for Pakistan, which, although it is not considered a developed nation yet, has shifted generation of over half of its annual GDP to services. In an industrial economy, industry absorbs underemployed and unemployed workers from the agricultural sector, thereby increasing the income of the community. It results in […] Industrial sector increases revenue of Government because industrial sector pays different type of taxes to government like. Discuss the main problems of cottage or small scale industries in Pakistan? Our Country should establish labor intensive industries instead of capital intensive industries because we have cheap labor and we have shortage of capital. In an agrarian country people in general are illiterate. 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. The increase in the income of the farmers has given boost to economic development in the country. With the growth of the auto glass repair industry, there is a huge requirement for repair and replacement technicians. So in this ways this sector increases national GDP. This sector accounts for 46% of total industrial output and contributes 60% to Pakistan’s total exports. Textiles related industries are the most important part o f the industrial sector. Following are the main points of importance of agriculture for Pakistan economy. Large scale manufacturing growth rate is 19.9%. Results of previous studies are country specific and cannot be generalized therefore we are going to conduct research on relationship So that they may not be discount maximum tax concessions should be given to businessman. Industrialization helps in increasing the value of output per worker. Cotton and cotton-based products account for 61% of export earnings of Pakistan. Government should establish maximum industrial cities and zones where every facility should be provided to industrialists easily and at low rates. With increase in industrial production we can supply goods to far-off  places and to other countries and extend market which may help in economic development. 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. Backward industrial sector is the second major sector of the economy of Pakistan. Industrialization eliminates dependence on agriculture only. The importance of iron and steel for industrial infrastructur e can be. The growth rate of industrial sector for the year 2009-2010 remained 4.9 percent % Different Phases of Industrial Development in Pakistan. Development of industrial sector means more investment, … Industrialization increase the income of the workers.It improves their capacity to save.It provides investment opportunity to the people. ). Better management of industrial relations in an industry is a sine qua non for the success of the industrial concern. Industrial sector is also plays great role in social welfare this sector meets different needs of society like food and fiber requirement of population. Industrialization promotes specialized labor. 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And thus earns foreign exchange etc to be used in the manufacturing sector is also and. Cottage industries for income provision of raw material alone can not be discount maximum tax should.