Although Pakistan is now becoming a capitalist state, Socialism had prevailed in the country. Socialism came into this country when Zulfikar Ali Bhutto became the President of Pakistan in 1972 after winning the elections in East Pakistan. He introduced several socialist economic policy which came as under:
Zulfikar Ali Bhutto, first eradicated the feudal system which was prevailing in the country. Land reforms were announced in which it was stated that the maximum limit of 150 irrigated land and 300 un irrigated land can be kept. The rest of the land was distributed among the poor farmers.
The labor reforms were introduced in 1972 and guaranteed the rights of labor in the country. Fundamental rights were promised, free education of children, management involvement and medical facilities were among the few promises which were made. This made a new way of communication between the employer and the worker.
The education reforms were introduced in the country and free education till Class X was given. As the education was very expensive at that time and not everyone could achieve a good level education, the government at that time decided to nationalize all the schools, colleges and universities to ensure that everyone gets the same level of education as according to socialism every person should be treated equally. This reform had started to enable the government as a socialist government.
Nationalization of the industrial sector was carried out and iron and steel mills were nationalized. Apart from the steel mills, heavy engineering, vehicles, food producing chemicals industries were also nationalized.
Economic reforms were introduced as all banking sectors were nationalized along with the industrial sectors. Nationalization of the industries were under the supervision of the Ministry of Production. Trade unions were strengthened during this time as the policies which were made at that time was favouring everyone.
As from the above reforms we can clearly make out that the government which Bhutto was leading a socialist one because in the Socialist school of thought, everyone is treated equally and government is in control of the whole show.
Can Socialism still prevail in Pakistan:
Socialism today cannot prevail in Pakistan because Pakistan is now an interdependent country which is need of other country’s help. Pakistan at this point does not have enough infrastructure so socialism cannot flourish.
Socialism can only work in those countries which have enough money to take care of itself because nearly every country in this world is capitalistic and it takes a lot to separate itself from the world and live on its own. Evidence proves that socialism has worked in those countries whose resources are self sufficient and are taking care of itself such as China, Russia, Germany. Pakistan's relations with the United States will take a very heavy blow if Socialist policies are implemented.
Pakistan on the other hand is facing severe economic crisis at this point. They are dependent on countries like China and United States. Socialism says that no foreign loans should be taken but Pakistan is taking heavy loans from nearly the entire world.