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Essay On Private Sector In Pakistan

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After the emergence of Pakistan in August 1947, the management and administration were not having the adequate resources in terms of institutions, finances and qualified human resources. Major portion of the public money was placed for the production of electricity, developing infrastructure and providing communications services to the people. The remaining part of the economy was opened to the private sector and Government used different ways and means to help the private sector to stand on its feet. From 1968 to 1971, the government took measures to fix the minimum wages, bargaining for labor and introduces tax reforms to establish greater equity and revised salary structure. However, the implementation of these strategies remained a question mark. In 1974, the government started the process of nationalization and nationalized thirty two large manufacturing units in eight major industries of Pakistan. The public sector was reinforced during this era while the process of nationalization went on. The …show more content…

In 1991, forty percent of national industrial export was accounted for such public organizations. In early 1994, there were suggestions to end the monopolies in several industries and government approvals were required in only sensitive industries. The government introduced its policy to continue both dereliction and liberalization. The increase in the share of private sector was evident in the market shift towards a market based economy as well as the weak financial position of the government. Besides the restructuring of economy towards private sector in Pakistan during the last few years, there is a high competition for jobs in public sector and public sector jobs are still more lucrative because of higher salaries, flexible timings, good working conditions and excellent fringe benefits. 2.2 Concept and Definitions 2.2.1 Level of

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