Deregulation and liberalization
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Transcript of Deregulation and liberalization
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ISSUES IN
PAKISTAN'S ECO
NO
MY
(S. AKBAR ZAIDI)
Abdul Razzaq M.Phil Applied [email protected]
00923006593748
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Deregulation and Liberalization
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Deregulation: Deregulation is the process
of removing or reducing state regulations.
Liberalization: Liberalization refers to a
relaxation of previous government restrictions, usually in such areas of social, political and economic policy.
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Background of deregulation
Sixth five year plan (1983-8) was the starting point of deregulation
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Main points: Shifting to the higher value added
exports. An increase in investment limits Reduction of tariff on raw material,
intermediate and capital goods 3 year liberal trade policy Upgrading IIRC into tariff commission
(1989) Introduced to deregulation in
Cement ,oil ,seeds, fertilizer industry
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Foreign trade before 1983 and after
Before 1983: Free or tied imports Other goods bannedAfter 1983: Introduce negative list of goods Tariff quota to tariff Rebates on exports Facilitate to importers
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Major activities of Zia era
Removing of fixed peg in term of dollar Managed floating exchange rate (1982) Devaluation of Rupee (1982-8)
(38.5% average 7.7% per annum)
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World Bank Report
increase investment in private sector (in FY83 is 38% to 42% in FY88)
Manufactured sector investment(Increase 51% to 83%)
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