0For economic development Pakistan followed the mixed economy model. With co-existence of public and private sectors.
The different policies adopted by Pakistan are stated below
(i) A variety of regulated policy framework was introduced in late 1950s and 1960s.
(ii) Protection of consumer goods, domestic industries through tariff harriers.
(iii) The introduction of green revolution and mechanisation in agriculture sector…
(iv) Public investment in infrastructure in selected areas.
(v) Nationalisation of capital goods industries was introduced in 1970s.
(vi) In 1980s, denationalisation and encouragement to private sector.
(vii) In 1988, economic reforms were initiated in the economy.
The government and policy makers use statistical data to formulate suitable policies of economic development.'Illustrate with two examples.
The data on domestic production of oil and demand for oil will help the government in deciding how much it should import.
The data on consumption of past years and the rate of growth of population would help in determining the demand for future.
