Examine socio-economic implications of industrial development on economy of Pakistan.

Q-30 = Examine socio-economic implications of industrial development on economy of Pakistan.

Socio-economic implications of industrial development of Pakistan areas under -
ECONOMIC IMPLICATIONS
1. Lack of capital
2. Under utilization of natural resources
3. Rapid population growth
10. Shortage of modern technology
11. Dependence on agriculture
6. Lack of infrastructure
7. Inefficient banking and financial sector

SOCIAL IMPLICATIONS 
1. Caste system
2. Heavy consumption
3. People are conservative
4. High illiteracy rate
5. Non-materialistic approach of life
6. No economic participation of women

Industries play a dominant role in the economic development of a country. Western countries standard of living is very high. They enjoy all comforts and luxuries of life due to higher productivity of goods and services in their countries. This is because of industrialization. Unfortunately there were no industries when Pakistan came into being but now with the efforts of Government and the people there is an improvement in this regard however more is required to be done. The overall manufacturing sector continued its positive trend during the current fiscal year.

Overall manufacturing recorded an impressive and broad based growth of 8.6 percent. There has been a slight decline in growth in the manufacturing sector due to multiple reasons like reduced production of cotton crop, sugar shortage, steel and iron problems and the last but not the least global oil prices. All of these reasons contributed to reduced growth in 2005-06 but high levels of liquidity in the banking system, an investment friendly interest rate environment, a stable exchange rate, low inflation, comfortable foreign exchange reserves, stronger domestic demand for consumer durable and high business confidence among other things will again boost the manufacturing sector growth rate up to a reasonable level

The production and sale of industrial goods are taken as an indirect measure to ascertain the standard of living of the middle class of Pakistan.