Explanation

Pakistan introduced its second five-year plan in 1960 under President Ayub Khan , focusing on industrialization and economic growth. Pakistan’s second five-year plan was introduced in June 1960 and ran from 1960 to 1965. The plan was approved by the Economic Council of the Government of Pakistan. Goals of the plan To increase the national income by 20% To improve railways, communications, and transportation To develop heavy industry To advance literature and science To industrialize the country to reduce unemployment Plan implementation The plan was implemented by the military government of President Ayub Khan The plan was based on the model developed by Indian statistician Prasanta Chandra Mahalanobis The plan was revised, increasing its cost by 21% The plan was successful, with all sectors showing substantial growth Plan outcomes The plan encouraged private entrepreneurs to participate in activities that could be profitable The government acted in sectors where private business was reluctant to operate