Industrial Progress of Pakistan

Industry

Industry is such a place where the enterpreneur and labour through the machines and tools convert the shape of capital raw material and natural resources in such way that their utility may increase to fulfill the needs of the people to a large extent and may fetch maximum price in the market.

Factors of Industrial Progress

In Pakistan the ratio of industrial progress was 7.6% during the year 2000-2002 which is much lower in the world. Following are the factors of Industrial progress.

(I) Increase National Income

Industrial progress increases the national income.

(II) Raising Living Standard

Raises the living standard of the people.

(III) Economic Stability

Creates economic Stability.

(IV) Balance of Payment

Improved the balance of payments of the country.

(V) Increases Exports

Promotes exports and earns foreign exchange.

(VI) Progress of other Sectors

Promotes the progress of other sectors.

(VII) Employment Opportunities of Employment

Provides opportunities of employment.

(VIII) Specializations

Encourages specialization in the country.

(IX) Progress of Agriculture

Help in the progress of agriculture.

(X) Provides New Things

Provides new thing to the people