Pakistani nationalization vs South Korean Economy

[Haris Ali2140]

Ok so in 10th grade's PST nationalization done by Zulfiqar Ali Bhutto is portrayed as some kind of a heroic step. He took away wealth from a group of greedy families an handed it to the public and made the public more powerful. When we read about it it looked great. But the ground realities are completely different. He completely destroyed the industries in Pakistan and completely closed the doors for future investments. He is the sole reason that we don't have conglomerates like Tata and Ambani etc. He is the reason we have listen that Pakistan doesn't has it own car engine.

So my question is why is he still considered as a hero???

The video below tells about how South Korea developed its economy. It had too wealth limited to few entities but they tackled it all differently.

@war&peace @PakSword @Chak Bamu @Brass Knuckles @Darth Vader @Rafi @Mangus Ortus Novem @Mav3rick

 

[Nike]

Ok so in 10th grade's PST nationalization done by Zulfiqar Ali Bhutto is portrayed as some kind of a heroic step. He took away wealth from a group of greedy families an handed it to the public and made the public more powerful. When we read about it it looked great. But the ground realities are completely different. He completely destroyed the industries in Pakistan and completely closed the doors for future investments. He is the sole reason that we don't have conglomerates like Tata and Ambani etc.

So my question is why is he still considered as a hero???

The video below tells about how South Korea developed its economy. It had too wealth limited to few entities but they tackled it all differently.

Well in the past circa 1959, major Nationalitation drive in Indonesia made the economy situation reel back into minus growth and leading into major economy crisis. Not to mention almost millions educated and well versed European conglomerats , business man and Indo people emigrating in large number back to Europe, or find new life in US or Australia. But New Order era decided to nurture another batch of conglomerats to fill the gaps left by those European businessman, and in conjunction with their effort to build State Owned enterprise from scratch. Major lesson learned after another economy crisis in 1998, is today Indonesia made concession between conglomerats business groups, foreign friendly investment policy and major drive to nurture state owned enterprise as major driver for economy motor in Indonesia. Its important to made concession against those private conglomerats as long as they put investment in the country first and absorb large number of worker and pay tax diligently.

 

[crigar]

Pakistan's dilemma is not yet over, started by Bhutto Jani, every successor bring their policies and drama. some bring peli neeli taxi schemes, youth loan schemes and Benazir income support etc. No one knows what the heck is going on. No one knows what should be our primary economic policy and whats its goal should be. Everyone is busy in milking this cow and no one knows what should be feed to it how to nurture it and make it fat.

 

[Bilal Khan (Quwa)]

The only way to 'make up' for nationalization is for the Pak Gov't to basically bankroll new private corporations with minimal or no state equity. In other words, if I want to start a company, the Pak Gov't will need to provide the seed investment without any expectation of getting a return. Why? Because without bending over backwards, you're not going to convince Pakistani investors to locally invest their money. Bhutto's nationalization scheme has ingrained a fear of investing into every able family in Pakistan.

 

[[Bregs]]

Pakistan always had more open economy then Indian one in past 2 decades i feel war on afghan and internal law n order did them in and of course poor policies of past 2 govt's wasting 14 yrs or so

 

[Samlee]

Ok so in 10th grade's PST nationalization done by Zulfiqar Ali Bhutto is portrayed as some kind of a heroic step. He took away wealth from a group of greedy families an handed it to the public and made the public more powerful. When we read about it it looked great. But the ground realities are completely different. He completely destroyed the industries in Pakistan and completely closed the doors for future investments. He is the sole reason that we don't have conglomerates like Tata and Ambani etc. He is the reason we have listen that Pakistan doesn't has it own car engine.

So my question is why is he still considered as a hero???

The video below tells about how South Korea developed its economy. It had too wealth limited to few entities but they tackled it all differently.

@war&peace @PakSword @Chak Bamu @Brass Knuckles @Darth Vader @Rafi @Mangus Ortus Novem @Mav3rick

It Was Based On False Presumptions.The Corrupt Media Said 22 Families Owned 60% Of Industries What They Never Told The People That In That Very SBP Report Also Said That Industries Made Only 10% of The Economy So These Families Only Owned 6% of The GDP.

The Real Ownership Was Concentrated In Agriculture Where A Few Feudal Lords Had Vast Land Holdings But Bhutto Did Nothing About Them Since He Was Himslef A Feudal

 

[Syed1.]

It Was Based On False Presumptions.The Corrupt Media Said 22 Families Owned 60% Of Industries What They Never Told The People That In That Very SBP Report Also Said That Industries Made Only 10% of The Economy So These Families Only Owned 6% of The GDP.

The Real Ownership Was Concentrated In Agriculture Where A Few Feudal Lords Had Vast Land Holdings But Bhutto Did Nothing About Them Since He Was Himslef A Feudal

Bhutto was basically the worst thing to happen to Pakistan.