“In the late 1970s and 1980s, Pakistan experienced significant changes in its policies, incentives and new investments.” Do you agree with the above statement ? Justify your answer with valid arguments.

Yes. In the late 1970s and 1980s, there was a shift in policy orientation in Pakistan emphasising on denationalisation and promotion of the private sector. Pakistan also received financial assistance from Western countries and remittances from emigrants to the Middle East, which stimulated economic growth. The government also offered incentives to the private sector, creating a conducive environment for new investments.