The Balance of Payments and External Resources in Pakistan's Third Five Year Plan: A Replay (Notes and Comments)

Bruce Glassburner


The Pakistan Institute of Development Economics has initiated
a number of useful studies on different aspects of the Third Five Year
Plan. Many of these studies have already yielded thought-provoking
articles, one of which is Dr. Bruce Glassburner's critique of the Third
Plan's sixth chapter on the balance of payments and external resources
[1]. 2. The main conclusion reached by Dr. Glassburner as a result of
his meticulous analysis of the balance of payments projections and
policies is that the Plan's export targets are overambitious and may be
difficult to achieve; that the import projections are conservative and
will not sustain the projected investment or consumption levels, and as
a consequence Pakistan may not be able to reduce reliance on foreign
assistance to the extent visualized in the Plan.

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