Pakistan manufacturing industry has been to hell and back. With most of the industries allocated to India, Pakistan started its industry from scratch and gradually built it way to the top. Established in 1952, the Pakistan Industrial Development Corporation (PIDC) was set up to invest in industries that required heavy capital injections, long gestation periods and advanced skills and knowledge. Our industry expanded from small scale industries like flour mills and rice husking industries to heavy industries like cement, jute, steel and fertilizer industry.
However, the growth in the 60’s was offset by the nationalization process introduced by Bhutto in 1972. It was aimed at distributing the wealth of the 22 rich families amongst the rest of the people. The management of these industries was handed over to bureaucrats instead of professionals. The ensuing corruption and mismanagement ate away the successes of the industry.
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