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The liberalisation methods raised country's GDP growth at 9.38% (1964), 8.71% (1980s) and 8.97% (2004–07). After exclusive establishment of Pakistan, the country's economic policy for the rapid growth of the national economy was deeply understood and extensive efforts were carried out by the government of Prime minister Liaquat Ali Khan in 1947. [2]
The national cabinet, led by the Prime Minister of Pakistan has executive power and the president is the head of state elected by the electoral college. [3] Pakistan's political system is based on an elected form of governance. [4] The democratic elections held in 2008 were the first to conclude a 5-year term in the nation's political history.
Economic democracy (sometimes called a democratic economy [1] [2]) is a socioeconomic philosophy that proposes to shift ownership [3] [4] [5] and decision-making power from corporate shareholders and corporate managers (such as a board of directors) to a larger group of public stakeholders that includes workers, consumers, suppliers, communities and the broader public.
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 Politics of Pakistan (سیاسیاتِ پاکستان ; ISO: Siyāsiyāt-e-Pākistāna) takes place within the framework established by the constitution.The country is a federal parliamentary republic in which provincial governments enjoy a high degree of autonomy and residuary powers.
Since 1900, the number of countries democratizing (yellow) has been higher than those autocratizing (blue), except in the late 1920s through 1940s and since 2010 Democratization , or democratisation , is the structural government transition from an authoritarian government to a more democratic political regime , including substantive political ...
The National Finance Commission Award or NFC is a series of planned economic programs in Pakistan enacted since 1951. [1] Constituted under the Article 160 of the Constitution, the program was emerged to take control of financial imbalances and equally managed the financial resources to four provinces to meet their expenditure liabilities while alleviating the horizontal fiscal imbalances. [2]
GSP is the unit-level counterpart of the national gross domestic product (GDP), the most comprehensive measure of a country's economic activity. Dynamics Pakistan, in 2022, had a (GDP nominal) of around US$377 billion and (GDP PPP) of around US$1.512 trillion, according to trading economics. [ 1 ]