পাকিস্তান কোনদিন ই ভারতের মত উন্নতি করতে পারবে না - আজন্ম ভিক্ষা ই করবে আর ভারতকে দেখে জ্বলবে

Mail: wmantrani74@gmail.com Facebook: Dutta Talks Instagram: wmantrani74 Mobile/ Whatsapp: +91 6291072979 #duttatalks #iran #indiancivilization #indianhistoryinbengali #indianhistory #worldnewsbangla #currentaffairsbangla https://www.cia.gov/readingroom/docs/... Pakistan’s economic history of the 1960s is often remembered as its “Golden Decade of Development” — a period of rapid industrialization and growth under General Ayub Khan’s regime (1958–1969). However, the very policies that spurred that short-lived boom also planted the seeds of inequality and political instability, leading to economic stagnation and eventual collapse in the 1970s. Let’s go step-by-step through this crucial historical arc. 🇵🇰 I. Background: Post-Independence Challenges (1947–1958) After independence in 1947, Pakistan inherited: A weak industrial base — almost all major industries were in India. Scarce infrastructure and skilled manpower. A poor agricultural system dependent on uncertain monsoons. Between 1947 and 1958, Pakistan’s GDP growth averaged around 3%, insufficient to reduce poverty or unemployment. Industrial growth was sluggish, inflation was high, and political instability worsened the economic climate. 🏗️ II. The Ayub Khan Era (1958–1969): “Decade of Development” When General Ayub Khan seized power in 1958, he imposed martial law but implemented strong economic planning, creating a centralized system modeled on Western developmental states. 1. Economic Planning and Reforms Introduction of Five-Year Plans (inspired by India’s model but more export-oriented). Second Five-Year Plan (1960–65) is considered the most successful. Focus on industrialization, infrastructure, and Green Revolution in agriculture. Strong collaboration with Harvard Advisory Group (American economists like Gustav Papanek). 2. Industrial Growth GDP growth rate averaged 6–7% per year. Manufacturing grew by 9% annually, largely in West Pakistan. Establishment of Pakistan Industrial Development Corporation (PIDC) to promote private sector industries. Karachi became one of Asia’s fastest-growing industrial cities. 3. Agricultural Development Introduction of Green Revolution technologies (HYV seeds, fertilizers, tube wells). Food production increased dramatically in Punjab and Sindh. However, benefits were concentrated among large landlords, not small farmers. 4. Foreign Aid and Alliance Pakistan became a key US ally during the Cold War. Massive foreign aid inflows (about 6% of GDP) from the US, IMF, and World Bank. This financed infrastructure projects like Mangla Dam, Warsak Dam, and Karnaphuli Paper Mills (East Pakistan). 5. Results By mid-1960s: GDP growth ~6.8% annually. Manufacturing up by ~15% annually. Per capita income rose by 30–40%. Western media praised Pakistan — The Wall Street Journal (1966) called it a “model of development for other developing nations.” New York Times (1965) wrote: “Pakistan is a most surprising success story in Asia.” ⚖️ III. The Hidden Fault Lines (Mid–Late 1960s) Despite impressive growth, deep inequalities emerged. 1. Regional Inequality West Pakistan (especially Punjab & Karachi) grew much faster than East Pakistan (now Bangladesh). In 1965, West Pakistan received 70% of industrial investment, East only 30%. East contributed more than 50% of export earnings (mainly jute) but got far less investment. This imbalance created massive resentment and fed into the Bengali nationalist movement led by Sheikh Mujibur Rahman. 2. Class Inequality Only 22 industrial families (the so-called “22 Families”) controlled two-thirds of industrial wealth and 80% of banking and insurance assets. The poor majority saw little benefit. 3. Overreliance on Foreign Aid Economic growth was aid-driven, not self-sustaining. Pakistan became heavily dependent on US support. When aid was reduced (after 1965 war with India), the economy stumbled. 4. The 1965 Indo-Pak War War expenditures drained foreign reserves. Western donors reduced aid flows. Export growth slowed, inflation rose. 5. Political Discontent Ayub’s centralized, authoritarian regime stifled dissent. Economic inequality + political suppression triggered protests. In 1969, Ayub Khan was forced to resign, handing power to General Yahya Khan. 1. Civil War and Breakup (1971) Economic grievances in East Pakistan became political rebellion. Civil war and creation of Bangladesh (1971) shattered Pakistan’s economy: Lost 55% of population and 60% of export earnings (mostly from jute). Industrial output dropped sharply. Foreign reserves depleted. 2. Nationalization and Socialist Turn (Zulfiqar Ali Bhutto) From 1972, Bhutto nationalized industries, banks, and schools. Private sector confidence collapsed. Bureaucratic inefficiency increased. GDP growth fell to ~3% in early 1970s. 3. Oil Crisis (1973) Import bills skyrocketed. Trade deficit widened.