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FIVE YEAR PLAN THIRD (1965-1970)

Because behind every great fortune lies a great crime, meow!

FIVE YEAR PLAN, THIRD (1965-1970) Buoyed by the success of the Second Five Year Plan, the government of President Muhammad Ayub Khan launched the Third Five Year Plan in June 1965 Its objectives were similar to those of its predecessor: to produce rapid economic growth and to reduce income disparities between the two wings of the country by undertaking massive public-sector investment in East Pakistan In West Pakistan, the private sector was to play an even more significant role than it did in the early 1960s Compared to the Second Five Year Plan, there was some change in sectoral priorities: water and power remained the largest recipient but with 26 percent of the total resources; transport and communications were still in second place with 20 percent of total commitment Industry, fuel, and mineral sectors were to receive 17 percent of total public-sector outlays, 5 percentage points more than in the Second Plan in order to expedite the industrialization of East Pakistan The public sector was to undertake the implementation of a number of large-scale industrial projects in the province Agriculture was to receive 19 percent of the public-sector expenditure; and the cluster of social sectors would receive the remaining 18 percent Out of its expenditure for social sectors, education was to receive 85 percent of the government-financed development expenditure compared to 6 percent in 1960-1965; health was to receive 4 percent rather than 25 percent; social welfare and manpower was to see a near doubling in its share from 0



4 to 07 percentSoon after the Plan came into force, Pakistan went to war with India More resources had to be committed to defense and the flow of economic assistance from abroad was interrupted Despite these setbacks, the Plan’s basic objectives were realized GDP increased at the rate of 55 percent per year, and income per capita grew at the rate of 27 percent a year

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