25. The rates of stamp duty in respect of bills of exchange, cheques. promissory notes, etc.
26. Terminal taxes on goods and passengers; and
27. Taxes on mineral oil and natural gas.
Under the constitution of 1956, economic and social planning was put in the concurrent list. But in reality there was a Planning Board under the federal government, and this board was concerned with economic and social planning. Under the 1962constitution national economic planning and national economic co-ordination was one of the subjects enumerated in the Central list. In addition, the central legislature under 1962 constitution was empowered to make laws on any subject on grounds of national interest in relation to:
(a) The security of Pakistan, including the economic and financial stability of Pakistan.
(b) Planning or co-ordination.
(c) Achievement of uniformity in respect of any matter in different parts of Pakistan.
From this it is clear that all the essential powers-defense, foreign affairs, foreign trade and commerce, inter-provincial trade and commerce, foreign exchange, foreign loans and aids, national economic planning and national economic coordination, currency, coinage and legal tender, almost all the elastic sources of revenue, and the two key all-Pakistan Services-have been concentrated in the hands of the Central Government since 1947. The consequences of this heavy concentration of key powers in the hands of the Central Government are discussed below:
It has led to the growth of increasing volume of disparities in all vital matters economic, financial per capita income, investment, utilization of foreign exchanges. manufacturing; on revenue, capital and development accounts, foreign aids and loans, investments in semi-autonomous bodies, transport and communications, social and economic overhead facilities, living standards, regional savings and investment, public personnel and expenditure on it, and defense personnel and expenditure between East Pakistan and West Pakistan. These disparities which have been expanding in volume, variety and magnitude have been (he result of policies pursued during the last twenty- three years by the central government which has been armed with the powers as stated above. The consequence of these disparities which have given rise to serious economic, political, administrative and military imbalances between two wings of the country leading to the concentration of wealth and power in West Pakistan at the cost of East Pakistan, need to be analyzed and discussed. Real national integrity in actual practice and not in words, however, beautiful, depends on the permanent elimination, root and branch, of the causes of disparity.
Foreign trade, foreign exchange and their utilization:
Let us now examine the total exports and imports of East Pakistan from 1947-48 to 1967-68, and see how foreign exchange carnings have been utilized and with what
