Trade, finance and development in Pakistan/by J . Russell Andrus and

His work started as a revised edition of The Economy of T Pakistan. However, it soon became evident that a mere revision would not suffice. When the earlier book went to press, the First Five Year Plan was just getting under way. As this is written, the Second Plan is nearing completion and a Perspective Plan for the next twenty years is in an advanced stage of preparation. The entire pattern of foreign trade has changed drastically, as Pakistan has become completely or nearly self sufficient in textiles and several other products which previously figured heavily in imports while at the same time it has become a net importer of food-grains. The business and financial structure has developed a new sophistication. Pakistan, like many other nations in Asia, has acquired through experience a great deal of useful new knowledge as to how to prepare a sound development plan and how to make it work.

For these reasons, only an occasional sentence or paragraph of the earlier work remains, and only the latter part of the The Economy of Pakistan is covered in this study, namely the part that is most out of date. Thus a new title is essential, and by narrow ing the coverage of the book a more detailed study of the financial and commercial aspects most closely involved in development has been possible.

The present book, therefore, assumes knowledge of the geo graphical background, vital statistics and basic structure of the Pakistan economy. It focuses on the commercial and financial arrangements in both their external and internal aspects and their relation to the country's programmes of economic development. This book deals with a number of controversial subjects, on

which there are certain to be differences of opinion among com petent authorities. We are of course alone responsible for our views, and the International Monetary Fund, the State Bank of Pakistan, the Department of State and the Agency for Inter national Development with which one or the other author has been or is associated bear no responsibility for the views expressed herein.