DefinePK

Abstract

This paper takes a closer look at the privatization policies brought forth by the Pakistan Peoples Party (PPP) and Pakistan Muslim League-Nawaz (PML-N) in the 1990s, comparing the two parties' main ideological approach, implementations, and results. Pakistan's differing economic trajectories in the Zia and Benazir eras are rooted in these contrasting approaches to economic governance, which played a pivotal role in determining growth rates, employment trends, and fiscal stability during these periods and have shaped the country's long-term economic trajectory. This research is qualitative in nature, based on primary and secondary sources such as government and economic surveys, policy reports, and experts' analyses. A comparative analysis framework will be used to evaluate the efficacy of the privatization policies of respective parties based on their abilities to generate revenue, industrial productivity, and socio-economic consequences. Through a critical assessment of the lessons and outcomes of both cases, this research offers insights into the wider context of privatization in Pakistan’s socioeconomic development and governance.