Applied Industrial Technologies employees from left, Sara Andrews, Brody Koebensky, Lisa Zgaynor, Dave Tommeraasen, Janet Thune, back row, Robert Besemann, and Cindy Vana. Even though this was wise investment policy from the standpoint of the people concerned, it did not lead to balanced industrial improvement from the standpoint of the nation. For the objective of promoting these industries of national importance for which private enterprise was not forth-coming, the Pakistan Industrial Improvement Corporation was established in January, 1952. Hence disparities were produced in the improvement of distinct regions and the components which later came to constitute Pakistan lagged behind in industrial development. To make the situation worse, Pakistan lacked industrial credit facilities, technical institutes and investigation laboratories.
To place the industrial policy in to operation, an advisory council for industries and a quantity of advisory committees have been appointed to consider improvement in particular industries. Although as yet no extensive index of industrial production is obtainable, a partial index primarily based on the production of 17 industries, mostly customer-goods industries, and employing 1950 as the base year equal to 100, shows an boost to 350 in 1955. Collectively these three groups accounted for production of a vale of about 2570 million rupees out of a total massive-scale industrial production of about 3410 million rupms, or about 75 per cent of the whole.
Table 2 presents adoration on big-scale industrial production in 1954, and covers a somewhat wider variety of industries than Table 1. The striking feature of this table is the heavy concentration of production in 3 categories : agricultural processing industries, meals merchandise industries (which includes tobacco), and textiles. We have been impressed by the fact that the excellent majority of plants that have been established were soundly conceived, and the resulting industrial structure is successful and solidly based.
To a massive extent the industrial improvement of recent years has been guided not by a cautiously worked out extended range technique, but by a series of ad hoe choices based on what seemed most necessary and expedient at the time. In established lines as a lot more industrial capacity is installed, the days of automatic profits will pass, and competitors will begin to force the interest of businessmen towards rising efficiency and lowering prices. Nonetheless, industrial production showed good progress, notably in cotton textiles and sugar.
Of these amounts about 1,600 million rupees would be private investment and 1,400 million rupees would be public investment, largely by means of the Pakistan Industrial Development Corporation. If, however, the percentages of shortfall which we have permitted for the Plan as a entire had been applied to public and private investment in business, the actual expenditures for industrial investment for the duration of the Program period would be about two,500 million. The precise composition of the industrial programme in the Program cant be determined in advance.