The Planning Commission initiated the preparation of the Third Five Year Plan prior to the end of the Second Five Year Plan period. The Third Plan was approved by National Economic Council in May 1965 and it was revised in 1966 due to following two reasons:
a. Pakistan had to fight battle trusted upon Pakistan by India.
b. The seasonal conditions became worst for agriculture sector which affected production.
Size Of The Plan:
An amount of Rs.52000 million was allocated for the plan out of which Rs.30,000 million for the public sector and Rs.20,000 million for the private sector were allocated. 66 percent of the total plan size was to invest from the local sources and remaining 32 percent through the external sources.