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The private sector employs most of the workforce in some countries. In private sector, activities are guided by the motive to earn money, i.e. operate by capitalist standards. A 2013 study by the International Finance Corporation (part of the World Bank Group) identified that 90 percent of jobs in developing countries are in the private sector. [1]
The Corporate sector of Pakistan (otherwise attributed as the Corporatization; or/ simply referred to as the Pakistan Inc.) is an elite business sector expanded in financial cities of Pakistan, and a policy measure programme in the economic period of Pakistan.
Privatization (rendered privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when a heavily regulated private company or industry becomes less regulated.
The sector, as a whole, provides employment to 3.5 million people and plays a pivotal role in promoting the growth of the vendor industry. Pakistan's auto market is considered among the smallest, but fastest growing in South Asia .
NIP is a public-private partnership established to develop focused industrial growth in Pakistan by developing world-class industrial parks all over the country. [5] The company was envisioned as a public-private hybrid. While it is a subsidiary of the PIDC, about 75% of its board members are from the private sector. [6]
The government is fully aware of the potential of cottage and small-scale industries for industrial development. The following organizations have been established to develop this sector of economy. Pakistan Small Industries Corporation (PSIC) Punjab Small Industries Corporation (PSIC) Sindh Small Industries Corporation (SSIC)
The 1980s brought substantial changes to Pakistan's economic landscape, moving away from the nationalization policies of the 1970s and fostering private sector industrial investment, which greatly contributed to robust economic growth. Notable developments in this era included a drop in the poverty headcount ratio to 29.1% in 1986–87 ...
The momentum and demands for denationalisation gained currency towards the end of the government of Prime minister Zulfikar Ali Bhutto and Pakistan Peoples Party who under intensified their nationalisation programme had effectively the government-ownership management in the private industries of Pakistan; it had built a strong public-sector with priority on cement, steel and fertilizers. [8]