Ayub Khan ended the political turmoil to become the country’s first military ruler in 1958. He revived the economy, carried out agrarian reforms, provided stimulus to the industry and encouraged foreign investment. State-backed capitalism and alliance with the US powered a ‘golden age’ of high growth rates under Ayub Khan’s reign. The growth was significant enough for the international media to take a note of it. In January of 1965, New York Times went on to predict that Pakistan might be on its way towards an economic milestone reached ‘by only one other populous country, the United States’. A year later, The Times, London, called Pakistan’s survival and development ‘one of the most remarkable examples of state and nation-building in the post-war period’. Pakistan was ‘considered to be one of the few countries at the time that would achieve developed-country status’.
That is from Sameer Arshad Khatlani’s recent and really quite good The Other Side of the Divide: A Journey into the Heart of Pakistan.