The Seventh Five-Year Plans for National Economy of Pakistan, otherwise known as Seventh Plan, were a set of a highly

centralized Centralisation or centralization (American English) is the process by which the activities of an organisation, particularly those regarding planning, decision-making, and framing strategies and policies, become concentrated within a particular ...

and planned economic development targets designed for the improvement of the

standard of living Standard of living is the level of income, comforts and services available to an individual, community or society. A contributing factor to an individual's quality of life, standard of living is generally concerned with objective metrics outsid ...

, and overall strengthening of

gross domestic product Gross domestic product (GDP) is a monetary measure of the total market value of all the final goods and services produced and rendered in a specific time period by a country or countries. GDP is often used to measure the economic performanc ...

(GDP) growth in Pakistan, between the period of 1988 until its termination in 1993. The seventh plan was drafted and presented by the

Ministry of Finance A ministry of finance is a ministry or other government agency in charge of government finance, fiscal policy, and financial regulation. It is headed by a finance minister, an executive or cabinet position . A ministry of finance's portfoli ...

(MoF), led by then popularly elected

Prime Minister A prime minister or chief of cabinet is the head of the cabinet and the leader of the ministers in the executive branch of government, often in a parliamentary or semi-presidential system. A prime minister is not the head of state, but r ...

Benazir Bhutto Benazir Bhutto (21 June 1953 – 27 December 2007) was a Pakistani politician who served as the 11th prime minister of Pakistan from 1988 to 1990, and again from 1993 to 1996. She was also the first woman elected to head a democratic governmen ...

, at the

Parliament In modern politics and history, a parliament is a legislative body of government. Generally, a modern parliament has three functions: Representation (politics), representing the Election#Suffrage, electorate, making laws, and overseeing ...

in 1988. The plan was studied by the

Economic Coordination Committee The Economic Coordination Committee ( reporting name:ECC), () is a principle federal institution and a consultative forum used by the people-elected Prime Minister of Pakistan as its chairman, for concerning matters of state's economic security, ...

(ECC) and resources were gathered to be allocated by the Planning Commission. The seventh plan was an integral part of Bhutto's social capitalist policies implementation and was also integrated with the nationalization programme of former Prime Minister

Zulfikar Ali Bhutto Zulfikar Ali Bhutto (5 January 1928 – 4 April 1979) was a Pakistani barrister and politician who served as the fourth president of Pakistan from 1971 to 1973 and later as the ninth Prime Minister of Pakistan, prime minister of Pakistan from 19 ...

. The plan emphasized macroeconomics principles and was intended to support the development of the

agricultural Agriculture encompasses crop and livestock production, aquaculture, and forestry for food and non-food products. Agriculture was a key factor in the rise of sedentary human civilization, whereby farming of domesticated species created f ...

and electricity sectors in Pakistan in order to keep up the GDP growth rate, which at that time was 6.6%— one of the highest in the world. Under this plan,

science policy Science policy is concerned with the allocation of resources for the conduct of science towards the goal of best serving the public interest. Topics include the funding of science, the careers of scientists, and the translation of scientific disc ...

was further expanded to integrate academic scientific development into national development plans. The seventh plan also took initiatives to revive deregulation of the

corporate sector In economics, the business sector or corporate sector - sometimes popularly called simply "business" - is "the part of the economy made up by companies". It is a subset of the domestic economy, excluding the economic activities of general gover ...

but did not privatize the sector into private-ownership management. Unlike the sixth plan, not all targets were met and goals were not sufficiently fulfilled. Only the agricultural and scientific development aspects of the plans were continued whilst all major initiatives were cancelled by the upcoming Prime Minister

Nawaz Sharif Mian Muhammad Nawaz Sharif (born 25 December 1949) is a Pakistani politician and businessman who served as the 12th Prime Minister of Pakistan, prime minister of Pakistan for three non-consecutive terms, first serving from 1990 to 1993, then ...

who replaced the programme with an intensified privatization programme, launched in 1991.

References

External links

* (1993 to 1998) {{Economy of Pakistan F Government of Benazir Bhutto Economic planning in Pakistan Five-Year Plans of Pakistan

See also

References

External links