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Medium Term Development Framework
The Medium Term Development Framework ( ur, ) (denoted as MTDF), is a policy measure programme of the Government of Pakistan drafted by the Ministry of Finance, Economic Coordination Committee and the Planning Commission of Pakistan, formulated to strengthen the national economy and civil infrastructure. Drafted and launched by former Prime minister Shaukat Aziz in 2005, the programme was envisioned to turn the country into a major industrialized nation, to increase the speed of human development and to sustain a new economic system which aimed to reduce poverty and achieve Millennium Development Goals (MDGs). The programme replaced the existing, centralized economic system of Pakistan, known as Five-Year Plans which had been in effect since 1955. The programme emphasized principles of macroeconomics connected with the development of scientific technology and human resources, while guiding the formulation of policies in areas such as education, labor, trade, science and technol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Pakistan
The Government of Pakistan ( ur, , translit=hakúmat-e pákistán) abbreviated as GoP, is a federal government established by the Constitution of Pakistan as a constituted governing authority of the Administrative units of Pakistan, four provinces, two autonomous territories, and one federal territory of a Parliamentary democracy, parliamentary democratic Parliamentary republic, republic, constitutionally called the Pakistan, Islamic Republic of Pakistan. Effecting the Westminster system for governing the state, the government is mainly composed of the Executive branch, executive, Legislative branch, legislative, and Judicial branch, judicial branches, in which all powers are vested by the Constitution of Pakistan, Constitution in the Parliament of Pakistan, Parliament, the Prime Minister of Pakistan, Prime Minister and the Supreme Court of Pakistan, Supreme Court. The powers and duties of these branches are further defined by acts and amendments of the Parliament, including the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Finance (Pakistan)
The Ministry of Finance and Revenue ( ur, ) or Ministry of Finance ( ur, , ''Wazarat-e-khazana'', abbreviated as MoF) is a ministry of the Government of Pakistan tasked to ensure a strong Pakistani economy by developing policies of sound economic management and providing expert advice to the government. Minister The Minister of Finance is leading cabinet member who responsible each year for presenting the federal government's budget. It is one of the most important positions in the Cabinet. Because of the prominence and responsibility of this position, it is not uncommon for former Ministers of Finance to be appointed Prime Minister. The current Minister of Finance of Pakistan is Miftah Ismail, he was appointed to this position by the Prime minister of Pakistan on 19 April 2022. The previous Minister of Finance was Shaukat Tarin. Divisions Finance The ''Finance Division'' comes under the supervision of the Secretary of Finance. The division's bureaucracy is divided into seve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Coordination Committee
The Economic Coordination Committee ( reporting name:ECC), ( ur, ) is a principle federal institution and a consultative forum used by the people-elected Prime Minister of Pakistan as its chairman, for concerning matters of state's economic security, geoeconomic, political economic and financial endowment issues. Although it is often chaired by the Finance Minister and the senior economic officials as its members on multiple occasions, the key executive authorization on key economic policies are made by the Prime Minister of Pakistan who reserves the right call upon and serves as the chairman of the ECC. Established in 1965 by President Ayub Khan, its primary functions and responsibility is to finalize executive economic decisions to national economy, and to assist Prime Minister and his key staff on issues involving the economic security, threat of war, economic effects of nuclear weapons, and challenges in geoeconomic policies. The ECC served as Prime Minister's principal d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Planning Commission (Pakistan)
The Planning Commission (denoted as PC) ( ur, ) is a financial and public policy development institution of the Government of Pakistan. The Commission comes under Ministry of Planning, Development and Reforms. The Planning Commission undertakes research studies and state policy development initiatives for the growth of national economy and the expansion of the public and state infrastructure of the country in tandem with the Ministry of Finance (MoF). Since 1952, the commission have had a major influence and role in formulating the highly centralized and planned five-year plans for the national economy, for most of the 20th century in Pakistan. Although the five-year plans were replaced by Medium Term Development Framework, the commission still played an influential and central role in the development of the programme. Furthermore, the Public Sector Development Programmes (PSDP) also placed under the domain of the planning commission. The commission's authoritative figures in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prime Minister Of Pakistan
The prime minister of Pakistan ( ur, , romanized: Wazīr ē Aʿẓam , ) is the head of government of the Islamic Republic of Pakistan. Executive authority is vested in the prime minister and his chosen cabinet, despite the president of Pakistan serving as the nominal head of executive. The prime minister is often the leader of the party or the coalition with a majority in the lower house of the Parliament of Pakistan, the National Assembly where he serves as '' Leader of the House''. Prime minister holds office by virtue of their ability to command the confidence of the National Assembly. The prime minister is designated as the "Chief Executive of the Islamic Republic". Pakistan's prime minister leads the executive branch of the federal government, oversees the state economy, leads the National Assembly, heads the Council of Common Interests as well as the Cabinet, and is charged with leading the National Command Authority over Pakistan's nuclear weapons arsenal. This p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shaukat Aziz
Shaukat Aziz ( ur, ; born 6 March 1949) is a Pakistani former banker and financier who served as 17th prime minister of Pakistan from 28 August 2004 to 15 November 2007, as well as the finance minister of Pakistan from 6 November 1999 to 15 November 2007. During his childhood he studied at St Patrick's High School, Karachi. Aziz graduated from the Institute of Business Administration in Karachi, and joined the corporate staff of the CitiBank Pakistan in 1969. He served in various countries' governments as CitiBank financier, and became executive vice-president of Citibank in 1999. After accepting a personal request by General Pervez Musharraf, Aziz returned to Pakistan from the United States to assume charge of the Finance Ministry as its finance minister while taking control of the country's economy. In 2004, Aziz was nominated by the Musharraf loyalist government led by Pakistan Muslim League (Q), to the position of prime minister after the resignation of Zafarullah Khan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Millennium Development Goals
The Millennium Development Goals (MDGs) were eight international development goals for the year 2015 that had been established following the Millennium Summit of the United Nations in 2000, following the adoption of the United Nations Millennium Declaration. These were based on the OECD DAC International Development Goals agreed by Development Ministers in the "Shaping the 21st Century Strategy". The Sustainable Development Goals (SDGs) succeeded the MDGs in 2016. All 191 United Nations member states, and at least 22 international organizations, committed to help achieve the following Millennium Development Goals by 2015: # To eradicate extreme poverty and hunger # To achieve universal primary education # To promote gender equality and empower women # To reduce child mortality # To improve maternal health # To combat HIV/AIDS, malaria, and other diseases # To ensure environmental sustainability # To develop a global partnership for development Each goal had specific targets, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Five-Year Plans Of Pakistan
The Five-Year Plans for the National Economy of Pakistan ( ur, ) (otherwise publicly known as Five-Year Economic Plans for the National Economy), were the series of nationwide centralised economic plans and targets as part of the economic development initiatives, in the Pakistan. The plan was conceived by the Ministry of Finance (MoF), and were studied and developed by the Economic Coordination Committee (ECC) based on the theory of Cost-of-production value, and also covered the areas of Trickle-down system. Supervision and fulfillment of this programme became the watchword of Pakistan's civil bureaucracy since early 1950s. Inspired by the five-year plans of the Soviet Union, the programme was visioned and proposed by the Finance Minister Malick Ghoulam to Prime minister Liaquat Ali Khan who initially backed the programme, in 1948. The first five-year plans were approved by the prime minister Ali Khan in 1950 for the period of 1950–55; it was accepted in a view to serve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Macroeconomics
Macroeconomics (from the Greek prefix ''makro-'' meaning "large" + ''economics'') is a branch of economics dealing with performance, structure, behavior, and decision-making of an economy as a whole. For example, using interest rates, taxes, and government spending to regulate an economy's growth and stability. This includes regional, national, and global economies. According to a 2018 assessment by economists Emi Nakamura and Jón Steinsson, economic "evidence regarding the consequences of different macroeconomic policies is still highly imperfect and open to serious criticism." Macroeconomists study topics such as Gross domestic product, GDP (Gross Domestic Product), unemployment (including Unemployment#Measurement, unemployment rates), national income, price index, price indices, output (economics), output, Consumption (economics), consumption, inflation, saving, investment (macroeconomics), investment, Energy economics, energy, international trade, and international finance. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Total Factor Productivity
In economics, total-factor productivity (TFP), also called multi-factor productivity, is usually measured as the ratio of aggregate output (e.g., GDP) to aggregate inputs. Under some simplifying assumptions about the production technology, growth in TFP becomes the portion of growth in output not explained by growth in traditionally measured inputs of labour and capital used in production. TFP is calculated by dividing output by the weighted geometric average of labour and capital input, with the standard weighting of 0.7 for labour and 0.3 for capital. Total factor productivity is a measure of productive efficiency in that it measures how much output can be produced from a certain amount of inputs. It accounts for part of the differences in cross-country per-capita income. For relatively small percentage changes, the rate of ''TFP'' growth can be estimated by subtracting growth rates of labor and capital inputs from the growth rate of output. Background Technology growth and e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic History Of Pakistan
Since independence in 1947, the economy of Pakistan has emerged as a semi-industrialized one, the on textiles, agriculture, and food production, though recent years have seen a push towards technological diversification. Pakistan's GDP growth has been gradually on the rise since 2012 and the country has made significant improvements in its provision of energy and security. However, decades of corruption and internal political conflict have usually led to low levels of foreign investment and underdevelopment. Historically, the land forming modern-day Pakistan was home to the ancient Indus Valley civilization from 2800 BC to 1800 BC, and evidence suggests that its inhabitants were skilled traders. Although the subcontinent enjoyed economic prosperity during the Mughal era, growth steadily declined during the British colonial period. Since independence, economic growth has meant an increase in average income of about 150 percent from 1950 to 1996, But Pakistan like many other devel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Planning In Pakistan
An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of scarce resources'. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two groups or parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency. How ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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