ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Iran and Pakistan

nor's speech there is not one reference to the likelihood that planned development may require some selectivity in credit expansion to different sectors and industries to match relative priorities in the Plan. No such complexities are allowed to spoil his simple view of credit policy; all that is necessary is "to ensure a more liberal treatment of the private sector" and to that end to "carefully regulate public sector operations". This will no doubt make the Reserve Bank popular with the private sector but to attempt to establish a connection between such an approach to credit policy and planned development is a hopeless endeavour.

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