Developed industrial sector means development and economic welfare of the individuals. Its contribution towards GDP is about 25% which is higher than contribution of any other sector. With increase in industrial production we can supply goods to far-off  places and to other countries and extend market which may help in economic development. You edit it by entering text in the "Biographical Info" field in the user admin panel. Manufac… Customary traditional and backward in thinking industrial starts running on the path of development. Industrialization provides machinery like tractors, thrashers, harvesters, bulldozers, aerial spray etc.. to be used in the farm sector. Backward industrial sector is the second major sector of the economy of Pakistan. Industrial Sector is of great importance for economic development of country. Agriculture is the major source of food of huge population of Pakistan. The industrial activity compared to agricultural is easy to control. Atom Importance of Industrial Sector in Pakistan or Role of Industrial Sector In economic Development Increase in National Income: Industrial sector also contributes in gross domestic product (GDP) of country According to year 2004-05 the contribution of industrial sector in GDP is 18.3 Percent. Our country is developing country and we should establish small and medium enterprises (SME) Instead of large scale because we have less finance to run large scale industry. Importance of Industrial Sector in Pakistan or Role of Industrial Sector In economic Development. Government should provide maximum credit facility to businessman so that they will be able to meet there all financial needs and carry on their business. Better management of industrial relations in an industry is a sine qua non for the success of the industrial concern. People through the adoption of family planning measures, reduce the rate of population growth. The public sector continues to dominate in steel, heavy engineering, automobiles, petroleum and defense-related production. The state of any country’s economic growth and development generally heavily relies on the strength of its infrastructure, whether that is in its energy, telecommunications, water and sanitation, transport or education sector.. After the 1947 partition of British India, the development of infrastructure in Pakistan grew and has made steady progress in the last five decades. Therefore dependence on other countries and deficit in balance of trade and balance of payments can be decreased and we may be able to save foreign exchange. Industrial Sector is the second largest individual sector of the economy accounting for 24% of the GDP. Introduction Nonverbal communication is usually u... General Information what is "Amallets is ready"? It the above steps are taken by the government sincerely and at proper time and with full commitment. Post Comments Industrialization brings structural changes in the pattern of foreign trade of the country. Similarly Italy’s industrial production is dependent on a number of minerals, its industrial Sector accounted for about 25.2% of GDP in 2010, which was a 0.2% increase from the previous years. Industrialization makes possible the best utilization of the limited resources of the country.It helps in increasing the quantity and quality of various kinds of manufactured goods and thus makes larger contribution to gross national product. Industrialization provides machinery like tractors,threshers,harvesters,bulldozers,transport,spray etc to be used in the farm sector. 3. On the other hand The processing of raw material at home curtails the import of goods and thereby helps in conserving foreign exchange. With developed industrial sector we cannot only produce substitute of imported goods but we can export them to other countries. Agriculture is also the major source of provision of raw martial to industrial sector of Pakistan. Industrial Sector is second largest sector of our economy. Auto glass jobs are quite challenging as technicians are required to be skilled at their task and maintain a pleasing attitude towards customers. Industrial Sector also meets national Defense requirement. Agriculture, minerals, transport and communication trade and other sector of the economy mainly depend on industrial sector. Importance of Industrial Sector For A Country. This phase witnessed the massive industrial growth in the country. Manufacturing is secondary economic activity after agriculture. The Industrialization helps in increasing the value of output per work.The living standard of the people is improve with the help of industrialization. The income of the labor, due to higher productivity increases. Pakistan's industrial sector accounts for about 64% of GDP. Agriculture is the major source of food of huge population of Pakistan. However, there is a need for significant development and promotion in order to compete with other developing countries. This industrial policy emphasis on private sector and the … Industrialization provides increased employment opportunities in small- and large-scale industries. Due to industrialization in Pakistan  now cotton and sugarcane is used in the domestic industries. In cities, improved facilities of sanitation and health care are available. The global trade of chemical sector is around 10% of the total world trade whereas in case of Pakistan it constitutes only 2.1% of our exports. Pakistan has become self-sufficient in cotton fabrics and exports substantial quantities. LAHORE: Strong linkage between industrial sector and academia is the most important tool to tackle the key economic challenges of Pakistan. Development of industrial sector means more investment, employment and production. Industrialization promotes specialized labor. Government should establish maximum industrial cities and zones where every facility should be provided to industrialists easily and at low rates. Agriculture is also the major source of provision of raw martial to industrial sector of Pakistan. The price stability can be maintained in the market with the help of production of industrial products.More production of industrial sector removes the shortage of supply of goods. Describe the Importance of Industrial Sector in Pakistan? If we study the history of economic development we find that the growth in national income and per capita income has been accompanied by a relative decline in their dependence on agriculture. Question   Describe the Importance of Industrial Sector in Pakistan? Pakistan, which had almost no large industrial units at the time of partition in 1947, now has a fairly broad industrial base, and manufacturing accounts for about 17 percent of GDP. seen in Russia, where during 1860-1900, 3500 miles of railroads were. In Pakistan, cottage or household industries hold an important position in rural set-up. So in this ways this sector increases national GDP. The people thus can have more goods and service: leisure and better health denied the previous generations. “Industry refers to that sector of economy which is related with manufacturing and production of different products”, Following are the main industries of our country. Role of Industrial Sector in Economic Development Increase in National Income: Industrial sector also contributes in gross domestic product (GDP) of country According to year 2004-05 the contribution of industrial sector in GDP is 18.3 Percent. Industry plays a complex role in economic development, but these are some of its most important effects. The growth rate of industrial sector for the year 2009-2010 remained 4.9 percent % Agriculture sector of Pakistan economy is stag nant, and its gro wth rate is slow. Development of industrial sector means more investment, employment and production. of Pakistan industry andeconomy. It is mainly dependant on capable people. (adsbygoogle = window.adsbygoogle || []).push({}); Copyright 2020 © LearningAll.com All rights reserved. Pakistan Bureau of Statistics Statistics House, 21-Mauve Area, G-9/1, Islamabad, Pakistan E-mail: pbs@pbs.gov.pkpbs@pbs.gov.pk Importance of Industrial Sector in Economic Development, Bise Lahore Board 11th Class Inter FA, Fsc Part 1 Past Paper 2012, Three Types of Oil and Their Natural Advantages, Ali Fatimah College Faisalabad Admission 2021 Last Date, Causes of industrial backwardness in Pakistan Types Problems, What is Fiscal Policy and its Objective Deficiency of capital, IBA Karachi National Talent Hunt Program 2021 Scholarship Application, Cadet College Larkana Admission 2021 Form Entry Test Result, Cadet College Sialkot Admissions 2021 Entry Test Result, KPITB Internship Program 2021 Online Registration Last Date. Maximum problems of industrial sector will be solved. The Government of Pakistan, aware of the importance of industrialization for rapid growth and development, called an Industrial Conference in December, 1947. Most of the present economic problems in Pakistan are ultimately linked to the slow pace of industrial development. Unlike other industries the Information Technology industry does not require heavy machinery, elaborate infrastructure or sophisticated tools. Industrial sector earns a good amount of foreign exchange for the country which is used for repairing national debt and for imp0rtant of machinery etc. Cotton textile production is the single most important industry, accounting for about 19 percent of large-scale industrial employment. Governments Should Promote saving Culture in the Country by introducing different attractive schemes to public of country. Development of one industry leads to the development and expansion of other industries. Industrial sector also helps government to stabilize price in country when goods are available in sufficient quantity, there is n0 change of increasing prices of these items. Manufacturing in the country can be categorized into two; that is large scale manufacturing, which is valued at $28 billion and the small scale manufacturing sector, which is valued at $653 billion. Industrialization eliminates dependence on agriculture only. They have their own carpenters, cobblers, potters, craftsmen and cotton weavers.Many families depend on cottage industries for income. The industrial Production growth rate during the year 2005 remained 6%. It raises the productive capacity of the people and creates ever-increasing employment opportunities. Causes of industrial backwardness in Pakistan are different types and nature these problems can be solved with sincere efforts of governments. SMEs constitute nearly 90% of all the enterprises in Pakistan; employ 80% of the non-agricultural labor force; and their share in the annual GDP is 40%, approximately. The Industrial Conference recommended the establishment of industries which use locally … It is a proven fact that a country with strong industrial sector have shown more economic growth, had improved national income and promoted living standard of people. Industrial sector contribution to GDP (Gross Domestic Product) for the year 2009-2010 Remained 18.5% Role of Industrial Sector in Economic Development Increase in National Income: Industrial sector also contributes in gross domestic product (GDP) of country According to year 2004-05 the contribution of industrial sector in GDP is 18.3 Percent. Increased Production will expand the scale of production with the result cost of production will be decreased and the profit will be increased for the business people. The rise in income raises the living standard of the people. Recommended for you The voluntary savings stimulate industrial growth and by cumulative effect lead to further expansion of industry. New roads, dams, buildings and parks are constructed. Increase in production will increase the national income. Industrialization leads to migration of surplus labour from farm sector to the industries mostly situated in urban areas.In cities,improved facilities of sanitation and health care are available. Industrialization encourages progress in other sectors of the economy.A development of one industry leads to the development and expansion of the other industries. ( At the time of independence, Pakistan has inherited only 34 industrial units out of 921 industrial units in subcontinent. Manufacturing industry accounts for approximately 20% of the total output in the country, and over the last five years, the manufacturing industry has experienced an average growth of 3.4% annually. The division of work increases the marginal value product of labor. Industrialization increases the supply of goods both for internal and external markets. The importance of iron and steel for industrial infrastructur e can be. Industrial Sector is of great importance for economic development of country. Industrialization leads to migration of surplus labor from farm sector to the industries mostly situated in urban centers. Industrial development plays a pivotal role in economic uplift. 2. This is a short description in the author block about the author. The increased use of modem inputs has increased the yield of crops per hectare. Articles State of SMEs in Pakistan In the industrial development of a country the importance of the SME sector cannot be overemphasized. Governments should charge Minimum taxes from industrialists. Extension of market depends on the quantity of demand. 2. They will make you ♥ Physics. This sector provides employment to both skilled and unskilled labour. What is meant by non verbal communication and its various forms? Cotton textile production is the most important of Pakistan's industries, accounting for about 19% of large-scale industrial employment, and 60% of total exports in 2000/01. According to one estimate more that 50% of total labor force is employed in industry. Industrial relations are human relations in industry. The industrial sector of Pakistan is very helpful in political stability. Importance of Industrial Sector in Pakistan or Role of Industrial Sector In economic Development Increase in National Income: Industrial sector also contributes in gross domestic product (GDP) of country According to year 2004-05 the contribution of industrial sector in GDP is 18.3 Percent. It would also help invent new business models that are rapidly gaining the grounds all over the world. Different Phases of Industrial Development in Pakistan. 4. Question What is meant by non verbal communication and its various forms? Industrialization helps in increasing the value of output per worker. Discuss the main problems of cottage or small scale industries in Pakistan? Historically, Pakistan’s textile industry and clothing sector has always been a major contributor to the foreign exchange earner and still contributes 5. It is very helpful in seeking out the political and financial crises of a country. Following are the main points of importance of agriculture for Pakistan economy. In 1958, a military government of Ayub came into power in Pakistan and announces a new industrial policy in 1959. In international market, those countries are enjoying higher living standards which we industrially developed. Results of previous studies are country specific and cannot be generalized therefore we are going to conduct research on relationship Improves quality of the product and helps in widening of the market. For economic development industrial sector play a vital role in increasing the production of goods which result in an increase in exports. The importance of the human factor in an industrial organisation is beyond question. For example, the time period known as the Industrial Revolution in the 18th and 19th centuries led to some of the most important economic development known to man. Development of industrial sector means more investment, … Industrialization is the best way of providing economic stability to the country. Industrialization promotes specialization of labor. The industrial labour force is more skilled and specializes than in the agriculture sector because industrialization promotes specialization and skill of the labour. For the Love of Physics - Walter Lewin - May 16, 2011 - Duration: 1:01:26. The Industrial Revolution Historically, industrial growth has had a large impact on the economy. So that they may not be discount maximum tax concessions should be given to businessman. The role of industrial sector is summarized as follows: In industrialization there is optimum utilization of scarce resources. 4th largest grower of cotton after USA, China and India 3rd largest consumer of cotton 3rd largest exporter of cotton textiles 2nd largest supplier of cotton yarn with 26% share of the international market Defense is very important requirement of every country industrial sector provide modern arms and other equipment’s for defense. Industrialization provides larger scope for on the job-training and technological progress. Industrialization increases the income of the workers. Cotton textile production is the most important of Pakistan's industries, accounting for about 19% of large-scale industrial employment, and 60% of total exports in 2000/01. With the growth of the auto glass repair industry, there is a huge requirement for repair and replacement technicians. Previous generations Discuss the main problems of cottage or household industries hold important! 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