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In order to boost export, the government introduced bonus voucher scheme in January
1959. The voucher was issued on the export of finished goods. A person or organization
was given a voucher on the remittance or earning of foreign exchange reserve, it was
equivalent to a fixed amount of earned foreign exchange reserves. This voucher could be
used for special imports and could also be sold in the open market. The scheme was
withdrawn by ZAB in May 1972.
4. Land Reforms:
As early as 1949 an agrarian reform committee was formed by the Punjab government
and it recommended that land holding shall not exceed from 150 and 500 irrigated and
non irrigated land respectively and all the jagirs shall be expropriated but these reforms
were not implemented.
In the Punjab and NWFP almost 50 percent and in Sindh 80 percent land was in
the possession of the commission of a few thousand land lords. The military government
appointed a land reform commission by 1958 and upon the recommendation of the
commission these steps were taken:
No person would own or posses more than 500 acres of irrigated or 1000 acres of
non irrigated land and 150 acres could be retained as orchard. In any case, a
person could not own more than 36000 produce index units
The land in excess would be resumed on the payment of compensation in the form
of interest bearing bonds redeemable in 25 years
The resumed land would be offered to the existing tenants for sale on installments
and the land not purchased by them would be sold to others
Occupancy tenants would become full owners
All jagridaris were abolished without compensation
A guarantee of security of tenure to the tenants
Out of 7.75 million acre land hold in access, nearly 2.40 million acre were resumed and
distributed among the tenants. It was pointed out that the land holding was on individual
basis not family base; therefore, the land lords saved their land by transferring it to their
family members as gifts.
5. Agriculture Reforms:
These reforms included modern methods of farming, the use of better seed, better credit
facilities, improved market facilities, and measures to check water logging and salinity.
The agriculture development corporation was setup in 1961 in both the wings of the
country to provide the farmers with technical knowledge. It was pointed out by the critics
that agrarian reforms intensified disparity between the two wings of the country, the
agrarian reforms were concentrated in the Punjab as 91.2 percent of the 75,700 tube wells
were located in Punjab, similarly out of 16,600 tractors in west Pakistan in 1968, 13800
were in Punjab.