Report of the Economic Appraisal Committee 1952-53

Abstract

The Economic Appraisal committee was appointed by ’the Government of Pakistan on 20th August, 1952, under their Resolution No. 2(21)-PG|52 published in ]the Gazette Extraordinary of 21st August, 1952 (reproduced in Appendix No. 1) nment of Pakistan in view of the world economic recession and its repercussions on the economy of Pakistan, which called for a comprehensive review of the economic situation in the country, as a basis for the determination of measures which should be* taken to reinforce the economy and to ensure that the pace of development in the' couhtry was not retarded by the economic recession and that the objective of raising the standard of living of the people in the shortest possible time was not affected adversely. 3. The detailed terms of-reference of 'the Committee were :— (1) To assess the economic conditions of Pakistan and to recommend ways and means for increasing the productive capacity and foreign exch&ng£ earnings. (2) To review the fiscal, tariff, trade and industrial policies from the standpoint of development And increased production so as to (5) To recommend'priorities for projects recommended for. execution tiuring the next five jfears. The‘fixation of priorities should keep in view the effect of a schfeme 'in raising earnings or saving expenditure of foreign exchange. / ' (6): To review the progress made. so. far in the execution of .development schemes,, especially in .the field of agriculture and industry, and to make recommendations to ensure the acceleration of exer , caution. and the attainment of full productive capacity. stabilise the country’s economy on a long-term basis. (3) To review the financial and material resources available for development during the next ’five years. (4) To review the development, schemes already approved or under preparation and’ make Recommendations regarding individual schemes and the overall pattern of economic development to be undertaken during the next five years.