IV. History of planning in Pakistan: 5 year plans.
Five Years plan of Pak
-The 5y Plans for national economy known as 5y economic plans for the national economy, are the series of nation’s economic development programs.
-concieved by MoF, studied by (ECO) Economic Coordination Commission based on the theory of Cost-of-production value & also covered the area of tickle-down system under the supervison of civil bureaucracy since early 1950s.
-Inspired by th USSR 5y plans, proposed by the Finance Minister Malik Ghulam Mohd to to PM Liaquat who backed the program in 1948.
-Though plan had been failed and successful since 1950 to 1999.
-Then, replaced the more effective plan (MTDP) Medium Term Development Program by PM Shaukat Aziz’s tenure in (2004-2007)
-MTDP-was initiated to strengthen national economy & civil infrastructure.
-drafted by Aziz to to turn the pak into major industrialized nation, to achieve MDGs, emphasized macroeconomic connected to development of science, IT, human resource, edu, labour, & taxation finance management.