Seventh Five Year Plan

Seventh Five Year Plan (1988-93)

 

Objectives:

(a)   During the plan the jobs will be provided to 6 million people and educational unemployment will be removed.

(b)  People will be provided better facilities regarding food, housing, education, transport and other public utilities.

(c)   Human resources will be developed by giving more emphasis on education and training.

(d)  The self-sufficiency will be attained in every field of economic activity.  The dependence on foreign assistance will be reduced.  The local technology will be employed in place of foreign technology and skill.

(e)   The role of private sector will be increased.  Most of nationalised industries will be given back to their owners so that dependence on government budget could reduce.

(f)     A balance will be brought in government budget, i.e., the gap between government expenditures and revenues will be narrowed.  The autonomous bodies will be engaged in self-financing.

(g)  To remove deficit in BOP and enhance exports the effective steps will be taken.  A balance will be restored in exports and imports through industrial, commercial and exchange rate policies.

(h)  A restrained monetary policy will be pursued to ensure persistent price stability.

 

Strategy:

(a)   To introduce such high yielding variety (HYV) seeds having the resistance against the heat, salinity and drought.

(b)  To increase yields per hectare through more efficient use of fertilisers, water management and development of appropriate farm technology.

(c)   To get self-sufficiency in the production of sugar.

(d)  To develop improved varieties of fruits and vegetables in size, seasonality and longevity of exports.

 

Targets:

(a)   The GNP growth rate will be 6.5%.

(b)  The agriculture growth rate is projected at 4.7%.  The major crops growth rate will be 4%, while the minor crops growth rate will be 5.5%.

(c)   The industrial growth rate will be 8.1%.  The large scale industries will grow @ 8%, while the small scale industries will grow @ 8.4% during the Plan period.

(d)  Means of transportation and communication will grow @ 6.7%.

(e)   The literacy rate will move to 40%.

(f)     The production of oil per day will move to 49000 barrel.

 

Priorities:

(a)   The first priority will be given to energy sector.  Accordingly, there will be a 56% increase in resources for energy development during the plan period.

(b)  The second priority will be given to education.  The expenditures on education will be doubled.  More emphasis will be given on primary education.

(c)   The third priority will be given to population planning.  In this respect, there will be a 76% increase in resources for population planning.

 

Performance:

The Seventh Five Year Plan was prepared within a broad-based socioeconomic framework of a fifteen years perspective (1988-2003), emphasizing efficient growth in output on one hand and improving the quality of life on the other.  Of the Perspective Plan total incremental targets, about 23.6% of GDP, 22% of investment, 23.8% of exports, 26.2% of imports and 21% of revenue, were envisaged to be attained during the Seventh Plan.  It attempted to address the deficiencies in social sectors, education, health, women development, etc. as well as economic problems like fiscal and current account deficits, inflation and unemployment.  Many policy reforms were launched during the Plan period and a new economic edifice on free enterprise, open market, privatisation and deregulation and liberalisation has been raised.

 

The tempo of growth was affected by unforeseen events on domestic and international fronts including economic contraction of Eastern Europe and the former Soviet Union, recession in Pakistan’s export markets, the Gulf War, the delay in the settlement of the Afghan issue, the political uncertainties on the domestic front, frequent changes of government, civil disturbances in 1989-90 and floods of 1988-89 and 1992-93.  However, the overall performance has been satisfactory.