Abstract:
In recent decades, Pakistan's industrial sector has not grown in any noteworthy ways. One of the causes is the absence of an industrial policy that makes sense, which appears to be the product of an overall economic strategy that has lacked continuity and coherence. As a result, Pakistan's economic potential was severely underutilized, which in turn had a particularly negative impact on common people. Industrial policy and political and environmental upgrading must go hand in hand with economic policy; if one is absent, the other suffers.
This research is the first, albeit fragmentary, attempt to draw attention to this significant connection. It gives an overview of economic policy's major facets and experiences, including industrial policy, and outlines some regulatory frameworks under which they function. It also briefly explains how it relates to the political growth of the nation before offering some recommendations for bettering policies.
The fact that this study holds a limited capacity for the economy, and we hope that other scholars will go on to fill up the prospect that still needs to be filled. Pakistan's economy needs to be more dynamic, which calls for consensus-based social and political reforms and consistent economic strategy. To fully realize its potential, the nation also requires an economic system that aspires to improve society as a whole.
