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Questions and Answers
When was the nationalisation programme announced in Pakistan?
1st September 1972
What industries were nationalised by Bhutto's government in Pakistan?
Iron and steel, heavy engineering, heavy electrical, assembly and manufacture of motor vehicles, heavy and basic chemicals
What economic policy was introduced in the Soviet Union in 1921 after the Russian Civil War?
New Economic Policy (NEP)
When was the first recorded instance of nationalisation?
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What was the aim of the NEP in the Soviet Union?
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Why did nationalisation become a popular policy tool for governments in the post-war era?
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When did President Obote implement the nationalisation programme in Uganda?
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What were some of the industries nationalised under Bhutto's regime in Pakistan?
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What industries did the Soviet government continue to control under the NEP?
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What specific areas were nationalised in Uganda under President Obote?
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What were the key sectors of industries nationalised under Bhutto's regime in Pakistan?
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What did the nationalisation programmes in various countries have in common?
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Study Notes
Nationalisation Programme: Announcement Date and Industries Nationalised
Nationalisation is the process of taking ownership and control of private property, industries, or services, and transferring them to public control. This article will discuss the nationalisation programme, focusing on the announcement date and the industries that were nationalised.
Announcement Date
The first recorded instance of nationalisation was on 13th February 1918, when the new regime in Soviet Russia issued decrees concerning the nationalization of all large industrial and banking institutions. In the post-war era, nationalisation became a popular policy tool for governments to address economic issues and redistribute wealth.
Pakistan
In Pakistan, the nationalisation programme was announced by Prime Minister Zulfikar Ali Bhutto on 1st September 1972, and the process of implementation was discussed with details. Bhutto's government nationalised 32 industries from the private sector, including iron and steel, heavy engineering, heavy electrical, assembly and manufacture of motor vehicles, and heavy and basic chemicals.
Soviet Union
In the Soviet Union, the New Economic Policy (NEP) was introduced in 1921 as a more market-oriented economic policy to revive the economy after the Russian Civil War. The NEP represented a move away from full nationalization of certain parts of industries, and some kinds of foreign investments were expected.
Industries Nationalised
Pakistan
In Pakistan, the industries nationalised under Bhutto's regime included:
- Iron and steel industries
- Basic Metal industries
- Heavy Engineering industries
- Heavy Electrical Industries
- Assembly and Manufacture of Motor vehicles
- Tractor Plant Assembly and Manufactures
- Heavy and Basic chemicals
- Petrol chemical industries
- Cement industries
- Electricity, gas and oil refining
Soviet Union
Under the NEP, the Soviet Union partially revoked the complete nationalization of industry, and the government continued to control large industries, banks, and foreign trade.
Uganda
In Uganda, the nationalisation programme was implemented by President Obote on 1 May 1970, with the immediate nationalisation of the import and export businesses and the compulsory acquisition of foreign-owned land.
In conclusion, nationalisation programmes have been implemented in various countries and at different times, with the announcement date varying depending on the political and economic circumstances. The industries nationalised have ranged from key sectors such as iron and steel, heavy engineering, and banking to more specific areas like petrol chemical industries and land ownership. These policies have had significant impacts on the respective economies and societies, with both advantages and disadvantages.
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Description
Explore the history and impact of nationalisation programmes in various countries, focusing on the announcement dates and the industries that were nationalised. Learn about significant instances in Pakistan, the Soviet Union, and Uganda, where key sectors like iron and steel, heavy engineering, and banking were brought under public control.
