Industry
Industry is such a place where the entrepreneur
and labor through the machines and tools convert the shape of capital raw
material and natural resources in such way that their utility may increase to
fulfill the needs of the people to a large extent and may fetch maximum price
in the market.
Factors of Industrial Progress
In Pakistan the ratio of industrial
progress was 7.6% during the year 2000-2002 which is much lower in the world.
Following are the factors of Industrial progress.
(I) Increase National Income
Industrial progress increases the
national income.
(II) Raising Living Standard
Raises the living standard of the
people.
(III) Economic Stability
Creates economic Stability.
(IV) Balance of Payment
Improved the balance of payments of
the country.
(V) Increases Exports
Promotes exports and earns foreign
exchange.
(VI) Progress of other Sectors
Promotes the progress of other
sectors.
(VII) Employment Opportunities of Employment
Provides opportunities of
employment.
(VIII) Specializations
Encourages specialization in the
country.
(IX) Progress of Agriculture
Help in the progress of agriculture.
(X) Provides New Things
Provides new thing to the people.
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