Industrial slowdown: causes and remedies.
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Industrial slowdown: causes and remedies By Sartaj Aziz The World Bank President, Mr. James Wolfuson, when he met the Finance Minister, Mr. Shaukat Aziz, in Washington last week, expressed two major concerns, according to the official announcement: the slow growth rate and rising level of poverty. Both are interrelated and both need deeper analysis. One of the most important factors in the disappointing performance of the Pakistan economy in the 1990s has been the industrial slowdown. The rate of growth in the manufacturing sector in the preceding three decades from 1960 to 1990, was 9.9 per cent, 5.5 per cent and 8.8 per cent respectively or an average of 8.1 per cent. As a result, the average GDP growth also slowed down from 6.1 per cent in 1960-90 to an average of 4.6 per cent in the decade of the 1990s. The agriculture sector, on the other hand, has maintained...


