Economy of Pakistan
Economic history
The first five decades
Pakistan was a very poor and predominantly agricultural country, if it independence in 1947 from the UK. Pakistan's average economic growth rate since independence, higher than the average growth rate of World economy during the period. Average annual growth of real GDP growth rates were 6.8% in the 1960s, 4.8% in the 1970s and 6.5% in the 1980s. Average annual growth rate fell to 4.6% in the 1990s, with significantly lower growth in the second half of this decade. See also
Industry sector Growth, including manufacturing, was also above average. In the 1960s, Pakistan was seen as a model for economic development around the world, and there was much praise for its economic development. Karachi was seen as an economic role model around the world, and there was much praise for the way their economies was advanced. Many countries tried to emulate Pakistan's economic planning strategy and a copy of them, South Korea, the city of the second "Five-Year Plan" and World Financial Center in Seoul is designed after the model of Karachi. Later, economic mismanagement in general, and fiscally imprudent economic policies in particular caused a strong increase in public debt of the country and led to slower growth in the 1990s. Two wars with India in 1965 and Second Kashmir War Bangladesh War of 1971 and the separation of Bangladesh, hampering economic growth. In particular, the latter war, the economy near recession, although economic performance rebounded sharply, until the nationalizations of the mid-1970s. The economy rebounded in the 1980s, a foreign policy of deregulation and an increased inflow Aid and remittances from expatriate workers.
In recent decades
This is a chart of trend of gross domestic product at market prices in Pakistan by the International Monetary Fund, with an estimated figures in millions of Pakistani rupees. See also
Year
Gross domestic product
U.S. Dollar
Inflation Index
(2000 = 100)
Per capita income
(In% of the U.S.)
1960
20,058
4.76 Pakistani Rupees
3:37
1965
31,740
4.76 Pakistani Rupees
3:40
1970
51,355
4.76 Pakistani Rupees
3:26
1975
131,330
9.91 Pakistani Rupees
2:36
1978
283,460
9.97 Pakistani Rupees
21
2.83
1985
569,114
16:28 Pakistan Rupees
30
2:07
1990
1,029,093
21.41 Pakistani Rupees
41
1.92
1995
2,268,461
30.62 Pakistani Rupees
68
2:16
2000
3,826,111
51.64 Pakistani Rupees
100
1:54
2005
6,581,103
59.86 Pakistani Rupees
126
1.71
Economic Load
GDP growth rate 1951-2007
Background
Historically, Pakistan's total economic output (GDP) each year since a 1951 recession. Despite this record sustainable growth, the Pakistani economy had until recently, was characterized as unstable and very vulnerable to external and internal shocks. However, proved the economy back unexpectedly resilient in the face of concentrated several adverse events in a four-year (1998-2002) period
Asian Financial crisis;
Economic sanctions Colin Powell Pakistan was "sanctioned by the eyeballs";
The global recession of 2001-2002;
a drought the worst in Pakistan's history took about four years;
increased perceptions of risk as a result of military tensions with India with not less than 1 million Soldiers at the border, and predictions of impending (potentially nuclear) war;
the post-9/11 military action in neighboring Afghanistan, with a massive Influx of refugees from that country;
Despite these adverse events held Pakistan growing economy and accelerated economic growth towards the end of this period. This resistance is a change in the perception out of the economy, praises with leading international institutions like the IMF, the World Bank and the ADB Pakistan's performance in the face of adversity.
Recent reports of elasticity
Additional confirmation that the economy of the country as weather and Lower case is been seen as above from a 2008 analysis that "examined 68 countries, quantifying their sensitivity to fluctuations in the weather, using figures on GDP by industry and the sensitivity of each sector given weather variables. "The analysis showed that the 68 countries that" at least weather-sensitive country was Pakistan. "
After the devastating earthquake of 2005 was to expand the Pakistani economy to grow by over 7 percent in the twelve months to 30 June 2006.
Pakistan emerged as one of the best in the wake of the global financial crisis, even as the country in a costly war against militants out. Its domestic economy was affected minimally and the banking sector boasted excess liquidity while remaining unharmed. But the effect was export sectors saw the strank as a result of lower foreign demand. ref> "Barclays sees great potential in Pakistan (August 14, 2009). DAWN. http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/news/business/09-barclays-sees-huge-potential-in-pakistan—szh-05. Accessed 15/09/2009. </ Ref>
Macroeconomic reform and prospects
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National Highways, highways and streets Strategic Pakistan.
According to many sources, the Pakistani government significant economic reforms since 2000 and the medium-term prospects for job creation and poverty reduction are the best in nearly a decade.
State revenues have improved in recent years, as a result of economic growth, tax reform – with broadening the tax base and more efficient tax collection through self-assessment programs and corruption controls in the Central Board of Revenue – and the privatization of public Facilities and telecommunications. Pakistan is aggressively cutting tariffs and assisting exports by improving ports, roads, power and irrigation projects. Islamabad has doubled development spending from about 2% of GDP in the 1990s to 4% in 2003, is a necessary step towards reversing the broad underdevelopment of the social sector.
Liberalization of international textile trade has already yielded benefits for Pakistan expects exports and the country also, that benefit from freer trade in agriculture. As a large country, Pakistan hopes to use to make significant economies of scale and to replace China's largest textile producers such as China moves up the value chain. These industries play Pakistan's relative strengths in low labor costs.
Growing stability in the nation's monetary policy has led to a reduction in the money market interest rates and a large Expansion in the amount of the loans, exchange of consumer and investment behavior contributed to the nation. Pakistan's domestic natural gas production as well as their significant use of CNG in automobiles, has the effect of cushioning the oil price shock of 2004-2005. Pakistan is also away from the doctrine of import substitution, which some developing countries (like Iran) followed dogmatically in the twentieth century. The Pakistani government is now pursuing an export-oriented model of economic growth successfully carried out in Southeast Asia and now highly successful in China.
In 2005, the World Bank reported that
"Pakistan was top reformer in the region and the number 10 reformer globally makes it simple, a company to form, reducing the cost of land, the penalties for violations of rules of corporate governance and compensation, an obligation to license every shipment with two-year licenses for traders. "
Doing Business
The World Bank (WB) and the International Finance Corporation's flagship report ase of Doing Business 2010 Pakistan 85th among 181 countries around the globe. Pakistan is the highest in South Asia, but also ranks higher than China, Russia and India, which is at 133rd The five countries are Singapore, New Zealand, the United States, Hong Kong and the UK.
The Pakistan government has granted in recent years numerous incentives to technology companies to do business in Pakistan. A combination of ten years plus tax holiday, zero duties on computer imports, government Incentives for venture capital and a variety of programs for subsidizing technical education, should give impetus to the emerging IT industry. This past Years led to impressive growth in this sector.
The economy today
Because of inflation and economic crisis the world achieved a state of Pakistan's economy Balance of Payment crisis. "The International Monetary Fund got saved Pakistan in November 2008 to avoid a balance of payments crisis in July last year, the Loans to 11300000000 7600000000 $ of an initial $. "
By October 2007, Pakistan again its currency reserves of 16.4 billion U.S. dollars on a fine. Exceptional Measures are deemed controlled by Pakistan's trade deficit at $ 13000000000, 18000000000, exports boomed in $, revenue generation rose to $ 13000000000 become attracted foreign investment and of $ 8,400,000,000th
Since 2008, the Pakistani economic outlook has taken stagnation. Safety concerns that have made the nation's role in the fight against terror large Created instability and led to a decline in foreign direct investment from a height of approximately $ 8 billion to $ 3.5 billion for the current fiscal year. At the same time the insurgency has forced massive flight of capital flight from Pakistan to the Gulf. Combined with high world market prices for raw materials, has the dual effect of Pakistan's economy shaken with gaping trade deficits, high inflation and a fall in the value of the rupee, which has 60 bis 1 USD fell to $ 80-1 in a few months. For the first time since Years, they may look for external funding to support the balance of payments. Accordingly, S & P lowered Pakistan foreign currency debt rating to CCC-plus from B, only a few Notches above a level that would indicate default. Pakistan debt in local currency rating was lowered to B-minus from BB-minus. Credit agency Moody Investors Service lowered its outlook on Pakistan debt from stable to negative due to political uncertainty, although it maintained the country rating in B2.The cost of insuring against a default Pakistan sovereign debt trades at 1,800 basis points, after his five-year credit default swap, a level that investors believe the country already or will soon show in default.
The center but may be less turbulent, depending on the political environment. The EIU estimates that inflation should fall back to single digits in 2010 and that growth is expected to more than 5% per year until 2011. Although less than the previous 5-year average of 7%, it would provide a solution to present Crisis, with growth of only 3.5-4%.
Economic comparison of Pakistan 1999-2008
A look at IIChundrigar Road, the financial district of Karachi in Pakistan
Mainstay of the economy – by region, source:
Ad
1999
2007
2008
2009
GDP
$ 75 billion
$ 160,000,000,000
$ 168,000,000,000
$ 185,000,000,000
GDP purchasing power parity (PPP)
$ 245,000,000,000
$ 445.5 billion
$ 445,000,000,000
545.600.000.000 $
GDP per capita
$ 450
$ 925
$ 1,085
$ 1,250
Revenue collection
Rs 305 billion
Rs 708 billion
Rs 990 billion
Rs 1.05 trillion
Currency reserves
$ 700,000,000
$ 16.4 billion
$ 10000000000
$ 14000000000
Exports
$ 7500000000
$ 18500000000
$ 19220000000
$ 18.45 billion
Textile exports
$ 5500000000
$ 11200000000
–
–
KHI stock market (100 index)
$ 5 billion at 700 points
75000000000 $ at 14 000 points
$ 56000000000 at 9,000 points
Foreign Direct Investment
$ 1000000000
$ 8.4 billion
$ 5190000000
$ 4600000000
Debt service
65% of GDP
26% of GDP
–
–
Poverty Level
34%
24%
–
–
Literacy Rate
45%
53%
–
–
Development programs
Rs 80 billion
Rs 520 billion
Rs 549.7 Billion
Rs 880 billion
Economic Comparison 1999-2008
Exchange
Main article: Karachi Stock Exchange
In the first four years of the twenty-first century, was Pakistan's KSE 100 index, said with the best-performing stock index in the world than by the international journal usiness week. [Edit] The stock market capitalization by listed companies in Pakistan was estimated at $ 5,937 million in 2005 from the World Bank. . But in 2008, after the general elections, political uncertainty Environment, rising militancy along the western border of the country and the rising inflation and current account deficits in a row, the steep decline of the Karachi Stock Exchange. As a result, the corporate sector in Pakistan has declined dramatically in importance in recent times.
Manufacturing and Finance
Pakistan's manufacturing sector has double-digit growth in recent Years of experience, from 2000 to 2007, growing at high-volume production of a minimal 1.5% in 1999 to a record 19.9% in 2004-05 and averaged 8.8% by end 2007. .
The Federal Bureau of Statistics, the financial and insurance sector in Rs.311, 741 million assessed in 2005 thus registering over 166% growth since 2000th A reduction the budget deficit has resulted in less government borrowing in the domestic money market, lower interest rates, and an expansion in private credit to businesses and consumers.
Growing middle class
In terms of purchasing power, Pakistan has 30 million strong middle class, according to Dr. Ishrat Husain, former Governor (2 December 1999 – December 1, 2005) of the State Bank of Pakistan. It is a figure that correlates with research by Standard Chartered Bank, Pakistan has a "a middle class estimated 30 million people, Standard Chartered estimates now earn an average of about $ 10,000 a year. "Latest figures put Pakistan's middle class is 35 million strong. In addition, Pakistan has estimated a growing upper and upper middle class, with 6.8 million in 2002 and expected to grow to 17 million people by 2010, with a relatively high per capita income.
On measures of income inequality, the country is somewhat better than the median. End of 2006, the Central Board of Revenue estimated that It almost 2.8 million income tax payers in the country.
The poverty rate is reduced by 10% since 2001, foreign companies, which provide for Pakistani middle class for some Time very successfully. For example, the demand for products Unilever recently so high that even after doubling the production of Anglo-Dutch company to cover the Demand to fight and it's Chairman stated, "Pakistanis can not seem to have enough."
Poverty alleviation issues
Main article: Poverty in Pakistan
Poverty in Pakistan
Pakistan's government spent over 1 trillion rupees (about 16.7 billion U.S. dollars) to the alleviation of poverty programs during the past four years, Cutting poverty from 35 percent in 2000-01 to 24 percent in 2006. Rural poverty remains a pressing problem, as development there has been much slower than in the large urban Areas.
Demography
Main article: Demographics of Pakistan
With a per capita GDP of over $ 3000 (PPP, 2006) compared to $ 2600 (PPP, 2005) in 2005, the World Bank considers Pakistan a country with middle income, it is also recorded as "medium development country" in the Human Development Index 2007th Pakistan has a large informal economy, which attempts to document and assess the government's. Some 49% of adults can read, and life expectancy is about 64 years. The population, about 168 million in 2007 at about 1.80% increase.
Relatively few resources in the past to the socio-economic development or infrastructure projects dedicated. Inadequate Provision of social services, high birth rate and immigration from surrounding countries in the past contributed to a persistence of poverty. One influential study found that the birth rate in the 1980s reached its peak, and decreased greatly since. Pakistan has a family income of Gini index of 41, near the global average of 39 Years.
Employment
The high population growth in recent decades has ensured that a very large number of young people are now in the labor market . Enter Although it is among the seven most populous Asian countries, Pakistan has a lower population density than Bangladesh, Japan, India and the Philippines. In the past, excessive red tape made burning of jobs and thus the adjustment difficult. Significant progress in tax and business reforms has ensured that many companies are not now being forced to work in the informal economy.
End of 2006 the government launched an ambitious nationwide employment service Payment scheme depends almost $ 2000000000 over five years.
Tourism
Main article: Tourism in Pakistan
Tourism in Pakistan is a growing industry. Main attractions are the ruins of the Indus Valley civilization and resorts in the Himalayas. Himalaya and Karakoram (K2, the second highest mountain in the world, attracts adventurers and mountaineers from around the world. Karachi and Lahore are the main attractions for authentic Pakistani cuisine and culture.
Revenue
The Board of Revenue has collected nearly a trillion Rupees (14.1 billion U.S. dollars) in taxes in fiscal year 2007-2008.
Monetary system
Main article: Pakistani rupee
The 500 rupee note
Rupee
The Pakistani rupee was pegged to the U.S. dollar until 1982. When the government of General Zia-ul-Haq, it changes made to float. This was considered to be the best decision Zia. As a result of devaluation of the rupee by 38.5% between 1982/83 and 1987/88 and the anti-export bias reduction in the economy. The basic unit of currency is the rupee, ISO code PKR Abbreviations and Rs, which is divided into 100 paisas. Currently, newly printed 5,000 rupees is the largest denomination in circulation. Recently, the SBP has introduced a new design has all the notes of Rs. 5, 10, 20, 50, 100, 500, 1000 and 5000 denominations, while the design work of Rs.10, 000 note in the way that the banking sector in line some notes in savings accounts will help. The new notes have been designed with the € technology and are conspicuous in bright colors and bold, elegant design.
Dollar-rupee exchange rate
Foreign exchange rate
1 Pakistani rupee (PKR) = 100 paisa
The Pakistani rupee against the U.S. dollar until the turn of the century, transcribed, if Pakistan great Current account deficits surplus pushed the value of the rupee against the dollar up. Pakistan's central bank then stabilized by lowering interest rates and buying dollars to the country export competitiveness will
Exchange rates: Pakistani rupee (PKR) per U.S. $ 1
PKR per U.S. dollar 1995-2008
Year
Highest
Lowest
Date
Vote
Date
Vote
1995
PKR 30 930
1996
PKR 35.266
1997
PKR 40.185
1998
PKR 44.550
1999
PKR 51.90
2000
PKR 53.6482
2001
PKR 61.9272
2002
PKR 59.7238
2003
PKR 57.752
2004
PKR 58.000
2007
August 2005
PKR 60.75
1. November
PKR 60.50
2008
10. October
PKR 80.00
1. April
PKR 63.50
Source: PKR USD exchange rates, SBP
Foreign exchange reserves
By October 2007, at the end of Prime Minister Shaukat Aziz of Pakistan office again raised its currency reserves to $ 16,400,000,000th Pakistan trade deficit was at $ 13000000000, exports grew to $ 18000000000, revenue generation rose to $ 13000000000 and become the country for foreign Attractive for investment of $ 8,400,000,000th
On 11 October 2008 reported the State Bank of Pakistan, that country had foreign exchange reserves by $ 571.9 million to $ 7,749.7 million gone. The currency market had more reserves of $ 10000000000 declined to an alarming rate of $ 6,590,000,000th
Structure of the economy
The economy of the Islamic Republic of Pakistan is suffering high inflation rates well above 26%. Over 1081 patents were filed by non-resident Pakistanis in 2004 revealing a newly discovered Trust. Agriculture accounts for about 53% of GDP in 1947. While per capita agricultural production has grown since then, has been overtaken by the growth of non-agricultural Sectors and the share of agriculture has declined about one-fifth of Pakistan's economy. In recent years the country has rapid growth in industry (such as clothing, Textiles and cement) and services (eg telecommunications, transport, advertising seen, and finances).
Sectoral contribution to GDP growth
Most of the recent Acceleration of GDP growth has come from industry and service sectors.
GDP growth by sector, expressed as a percentage of GDP
Sector
2001-02
2002-03
2003-04
2004-05
Agriculture
12:03
1:01
12:53
1.74
Industry
Manufacturing
0.61
1.71
1:08
1:11
2.74
2:31
2:46
2:19
Service
2:47
2.75
3:16
4:16
Real GDP (fc)
3.1%
4.8%
6.4%
8.4%
Source: Economic Survey of Pakistan 2005
Structure of production
Share of different sectors in GDP
Sector
2000-01
2001-02
2002-03
2003-04
2004-05
Were (1 +2 +3 +4 +5)
48.2
47.3
47.1
47.4
47.6
1. Agriculture
25.1
24.4
24.2
23.3
23.1
2. Mining
1.3
1.4
1.5
1.5
1.4
3. Manufacturing
15.9
16.1
16.4
17.6
18.3
4. Construction
2.4
2.4
2.4
2.1
2.0
5. Power Distribution
3.4
3.0
2.5
2.9
2.7
Other (6 +7 +8 +9 +10 +11)
51.8
52.7
52.9
52.6
52.4
6. Transport & Comm.
11.7
11.5
11.5
11.4
11.1
7. Trade
18.1
18.0
18.2
18.5
19.1
8. Finance & Insurance
3.1
3.6
3.3
3.3
3.7
9. Ownership of dwellings
3.2
3.2
3.2
3.1
2.9
10. Public Administration. & Defense
6.3
6.5
6.7
6.5
6.0
11. Other Services
9.4
9.9
10.0
9.9
9.6
Note: GDP is estimated at constant factor cost. The numbers are in percent.
Source: Economic Survey of Pakistan 2005
Industries
Agriculture
Main Article: Agriculture in Pakistan
Agriculture by province
Mango Orchard in Multan, Pakistan
Pakistan is one of the world's largest producers and suppliers the following after the 2005 Food and Agriculture Organization of the United Nations FAOSTAT given here with ranking:
Chickpea (2)
Apricot (4)
Cotton (4)
Cane (4)
Milk (5)
Onion (5)
Date palm (6)
Mango (3)
Mandarin, tangerine, clementine (8th)
Rice (8)
Wheat (9)
Orange (10)
Pakistan ranks fifth in the Muslim world and the twentieth in the world agricultural production. It is the world's fifth largest milk producer.
Pakistan's most important natural resources are arable land and water. About 25% of the total surface area of Pakistan is growing and is one of the largest irrigation systems in the world irrigated. Pakistan irrigates three times more acres than Russia. Agriculture accounts for around 23% of GDP and employs about 44% of the workforce. Zarai Taraqiati Bank Limited is the largest financial institution to the development of agriculture through the provision of Financial services and technology oriented expertise.
Industry
Main article: Economy of Pakistan
Manufacturing by Province
Pakistan's two leading Businesses, as per Forbes Global 2000 ranking for 2005.
Global
Ranking
Company Name
1,284
Oil & Gas Development
1,316
PTCL
Forbes Global 2000
Pakistan is one of the forty-first in the world and fifty-fifth worldwide in factory output.
Pakistan's industrial sector account for about 24% of GDP. Cotton fabric production and garment manufacturing are Pakistan's largest industries that about 66% of merchandise exports and almost 40% of employed workers. Other important industries are cement, fertilizer, edible oil, sugar, steel, tobacco, chemicals, machinery and food processing.
The government is the Privatization of large semi-public entities and the public sector, a declining share of industrial production, while overall growth in industrial production (Including the private sector) has accelerated. Government policy aims to strengthen the diversification of the country's industrial base and export industry.
Industries: Textiles (8.5% of GDP), fertilizers, cement, oil refineries, dairy products, food, beverages, building materials, clothing, paper, shrimp
Growth rate Industrial production: 6% (2005)
Mass production growth rate: 19.9% (2005)
Automotive
Pakistan is an emerging market for automobiles and automotive parts offers immense business and investment opportunities. The total contribution of the automotive industry to GDP in 2007 is 2.8%, which is expected by up to 5.6% in the next 5 years. Auto sector presently, contributes 16% to the manufacturing sector, the increase and a projected 25% in the next 7 years.
CNG industry
From 2009, Pakistan is one of the largest user of CNG (Compressed Natural Gas) in the world. Currently, more than 2,900 natural gas filling stations in the country in 85 cities and communities are active and 1,000 more would be fixed in the next three years. It is the employment of more than 50,000 people in Pakistan provided.
Cement Industry
In 1947, Pakistan had inherited four cement plants with total capacity of 0.5 million tonnes. Some expansion took place in 195 666, but could not step keep pace with economic development and the country had to import cement 1976/77 resort and drove it to 1994-95. The cement sector, consisting of 27 units is above 30 billion Rs contribute to the national exchequer in taxes.
IT Industry
Pakistan IT industry has increased steadily since the last three years. A significant increase in software Export figures are an indication of the potential boom industry. The total number of IT companies rose to 1306 and the total estimated size of the IT industry is $ 2,800,000,000. In 2007 Pakistan was first featured in the Global Services Location Index by AT Kearney and was as the 30th had the best location for Offshoring By 2009, Pakistan's ranking ten places to achieve improved 20th
Textiles
The textile industry is dominated by Punjab. For example, only 1.5 million people from NWFP employed in the industry. 3% U.S. imports in terms of clothes and other form of textiles from Pakistan covered. Textile exports in 1999 were $ 5,200,000,000 and rose to 10.5 billion U.S. dollars by 2007. Textile exports managed to increase at a very respectable growth of 16% in 2006. Between July 2007 June 2008 textile exports were U.S. $ 10,620,000,000th Textile exports share in total exports Pakistan has 67% in 1997 to 55% decline in 2008, as exports grew from other non-textile sector.
Mining
Pakistan is endowed with significant mineral resources and emerging as very promising for prospecting / exploration of mineral deposits. Basis of available information, the country is more than 6,00,000 km outcrop area shows a variety of geological potential for metallic and nonmetallic mineral deposits. With the exception of oil, gas and nuclear minerals on federal level Minerals are regulated by a provincial subject, under the Constitution of the Islamic Republic of Pakistan. State governments are responsible for the development and exploitation of mineral resources, except to enforce regulatory system. In line with the constitutional framework of federal and state governments have set together from Pakistan first National Mineral Policy in 1995, properly implemented by the provinces, the appropriate institutional and legal framework and fair and internationally competitive tax regime.
In the recent past exploration presented by government agencies as well as by multinational mining companies ample evidence of Occurrence of significant mineral deposits. Recent discoveries of a thick oxidized zone underlain by sulphide zones in the shield area of the province of Punjab, through thick alluvial covered new prospects for metallic minerals exploration have opened up. Pakistan has large base of industrial minerals. The discovery of coal deposits, with more than 175 billion tons of reserves of Thar in Sindh province has an impetus to develop it as an alternative energy source. There is enormous potential for precious stones and dimension.
The enforcement of the Mineral Policy (1995) has paved way to lure expand mining activities and investment in the sector. International mining companies have responded positively to the NMP and at least four currently active in mineral development projects.
Currently, some 52 minerals, utilizing although on a small scale. The large production of coal, rock salt and other industrial and construction minerals. The current review of mining at the GDB is about 0.5% and likely to increase significantly the Development and commercial exploitation of Saindak & Reco Diq Copper & Gold Deposits (World's largest gold mine), Duddar zinc lead, Thar coal and gemstone deposits.
Services
Services through the provincial
Pakistan's service sector accounts for about 53.3% of GDP. Transport, storage, communication, funding and insurance account for 24% of the sector, and wholesale and retail more than 30%. Pakistan seeks to promote the information industry and other modern service industry through incentives such as long-term tax holidays.
The government is acutely conscious of the immense work opportunities for growth in services and has an aggressive privatization telecommunications, utilities and banks, despite trade union unrest. [Edit]
Communication
PTCL's One Stop Shop in Islamabad
Pakistan Telecommunication Company Ltd. has emerged as a successful Forbes 2000 conglomerate with more than U.S. $ 1,000,000,000 in sales in 2005. The mobile market has fourteen-fold since 2000, blew up a customer base of Reach 91 million users in 2008, one of the highest mobile teledensities in the world .. In addition, there are over 6 million fixed lines in the country with 100% fiber optic network and coverage of WLL in even the most remote areas .. As a result, Pakistan won the prestigious Government Leadership Award from the GSM Association in 2006 ..
The contribution of the telecom sector to the national treasury increased to Rs 110 billion in the year 2007/08 because of the general sales tax, and further activation Steps, compared to Rs 100 billion EUR in 2006/07.
The World Bank estimates that it takes about 3 days will only have a phone connection in Pakistan.
In Pakistan, the Best following mobile operators:
Mobilink (Parent: Orascom Telecom Holding, Egypt)
Ufone (Parent: PTCL (Etisalat), Pakistan / UAE)
Telenor (Parent: Telenor, Norway)
Warid (Parent: Abu Dhabi Group / SingTel, UAE / Singapore)
Zong (Parent: China Mobile, China)
By March 2009, Pakistan had 91 million Mobile subscribers – 25 million more subscribers than reported in the same period in 2008. In addition to 3.1 million fixed lines, while as many as 2,4 million with Wireless Local Loop connections. Sony Ericsson, Nokia and Motorola, together with Samsung and LG are to remain the most popular brands among customers.
Pakistan is on the verge of a telecom revolution [Edit], and it is by far the most attractive sector to come in Pakistan in terms of foreign direct investment into the country. Since the liberalization in the past four years has the Pakistani telecom sector more than $ 9000000000 attracted foreign investment. During 2007-08, Pakistan's communications sector alone received $ 1,620,000,000 in Foreign Direct Investment (FDI), about 30% of the country's total foreign direct investment.
Present growth of state-of-the-art infrastructure in telecom sector in the last four years, the result of the PTA's vision and implementation of policies of deregulation. Paging and mobile (cellular) phones were adopted early and freely. Mobile Phones and the Internet have been a rather laissez-faire policy, with the proliferation of private service providers, has led to rapid adoption. With a rapid increase in the number of Internet users and ISPs, and a large English speaking population of the Pakistani society has seen an unprecedented revolution in communication.
According to PC World, total 6.37 billion text messages were sent by Acision messaging systems throughout Asia Pacific over the 2008/2009 Christmas and New Year. Pakistan was among the first five Ranker with one of the highest SMS traffic with 763 million messages.
Pakistan is ranked 4 in terms of broadband Internet growth in the world as the subscriber base of broadband Internet is rapidly increasing. The rankings are released by Point Topic broadband global analysis, a global research center.
Pakistan has more than 17 million Internet users in 2009th The country is a potential to accommodate up to 50 million mobile Internet users in the next 5 years, a potential of nearly 1 million connections per month.
Almost all the most important ministries, organizations and institutions have their own websites.
The use of search engines and instant messaging services is booming. Pakistanis are some of the fiery Chatter on the Internet, to communicate with users around the world. In recent years, a huge increase in the use of online marriage services, seen as what to a large reorientation of the tradition of arranged marriages.
As of 2007 there were six mobile phone companies operating in the country with nearly 90 million mobile phone users in the country.
Wireless local loop and the landline telephony sector has been liberalized and the private sector which received the tele-density rate. Middle of 2008 the installed capacity Local Loop by 5.5 million.
Telecom industry created 80,000 jobs directly and indirectly 500,000 jobs.
The Federal Bureau of Statistics provisionally estimated the sector Rs.982, 353 million in 2005 thus registering over 91% growth since 2000th
Railways
Main article: Pakistan Railways
A massive Redevelopment plan worth $ 1000000000 over five years for Pakistan Railways has announced by the Government in 2005. A new rail link study of Islamabad-Pakistan-Iran Teharan on Via Istanbul, Turkey was founded. Furthermore, it would enhance trade, tourism and would also would be an effective compound for Exports to Europe (Turkey serve as part of Europe and Asia].
Aviation
See also: List of airlines of Pakistan
A PIA B747-367 at the Domestic Satellite of Jinnah International Airport
Pakistan International Airlines, the flagship airline of Pakistan's civil aviation industry, has sales of more than $ 1000000000 in 2005. The government announced a new shipping policy address in 2006, allows banks and financial institutions to mortgage vessels.
Private sector airlines in Pakistan include Airblue and Shaheen Air International. Many private airlines are in the pipeline such as Air Mashreq, Dewan Air, Air and Pearl.
Airblue with state-of-the-art Airbus A320 and A321 for flying within the country, the UAE, Oman and the United Kingdom, and soon begin Norway, Kuwait, Malaysia, India and operations. Airblue has made recently six brand new A321, and two dry-leased aircraft will be added soon on the existing fleet of five, making it the second largest PIA fleet behind, which has 42 aircraft.
Wholesale and retail trade
The Federal Bureau of Statistics provisionally valued this sector, Rs.1, 358,309 million in 2005 thus registering over 96% growth since 2000.
Finance and Insurance
See also: List of Banks in Pakistan
Reducing the budget deficit has less government borrowing on the domestic money market have lower interest rates and an expansion of private sector lending to businesses and consumers. Foreign exchange reserves further to a new level achieved in 2007, supported by robust export growth and steady worker remittances.
Pakistan has 34 from 52 countries in first financial services, the World Economic Forum's Development Report, published in Pakistan's competitiveness ranking Support Fund (CSF) in December 2008. The Factors, policies and institutions pillar ranked Pakistan 49th in the institutional environment, 50 Business climate and 37 in Financial Stability. In credit and insurance industry column Pakistan ranks 25th in Banks 42. in non-banks and 17 in financial markets. After availability of capital and access Pakistan ranked 33.
Pakistan's banking sector has remarkably attracts strong and resilient during the global financial crisis in 200 809, a feature which served a significant amount of foreign direct investment in the industry. Stress tests conducted in June 2008 data show that large banks are relatively robust, with the medium and small sized banks to position themselves in niche markets. Banking Sector in 2002, turned profitable. Their profits continue to rise for the next five years and its peak to Rs 84.1 ($ 1,100,000,000) billion in 2006.
The credit card Market continued its strong growth with sales crossing the 1 million mark in mid-2005. Since 2000, Pakistani banks have aggressive marketing of consumer finance to emerging Middle class started, so that, for a consumption boom (more than a 7-month wait list for certain car models) and a construction bonanza.
The Federal Bureau of Statistics provisionally valued this sector Rs.311, 741 million in 2005, since so on the registration 166% growth 2000th
Ownership of dwellings
The property sector has expanded twenty three times since 2001, especially in cities like Lahore. However, the Karachi Chamber of Commerce and Industry estimated that the end of 2006 the total production increase of residential units in Pakistan to 0.5 million units to 6.1 million added annually address backlog of housing in Pakistan to meet the housing Shortfall in the next 20 years. The report found that the present housing stock is aging quickly, and an estimate suggests that more than 50 percent of the shares is over 50 years. It is also estimated that 50 percent of the urban population lives in slums. The report said that the fulfillment of orders housing in addition to replacement of out-lived housing units is beyond the financial resources of the government. This requires the setting of conditions for financing the formal private sector and NGOs to mobilize resources to facilitate a market-based housing finance system.
The Federal Bureau of Statistics provisionally valued this sector Rs.185, 376 million in 2005 thus registering over 49% growth since 2000th
Public administration and defense
The Federal Bureau of Statistics provisionally valued this sector Rs.389, 545 million in 2005 thus registering over 65% growth since 2000th
Social, public and personal services
The Federal Bureau of Statistics provisionally valued this sector Rs.631, 229 million in 2005 thus registering over 78% growth since 2000.
Electricity
Main article: Electricity sector in Pakistan
For years, the issue of balancing supply against Pakistan's demand for electricity has a largely matter remained unresolved. Pakistan is facing a major challenge in modernizing its network responsible for the supply of electricity. While the government claims credit for overseeing a turnaround in the economy by a full recovery, it has simply failed, a similar improvement in quality to oversee the network for the power supply. [Citation needed] Some officials even go so far as claimed, that the frequent power cuts across Pakistan today indicative of an emerging prosperity as rapidly rising demand for electricity. And yet, the failure to satisfy the demand is in fact indicative of a Challenge the very prosperity. [Edit] This is despite create Pakistan with huge potential for wind energy. Besides, most cities receive in Pakistan extensive sunlight throughout the year, the good conditions for investment in solar energy would be suspect.
Recently, the Minister for Water Development and Power, Raja Pervez Ashraf has said that load shedding is to December 2009 by the use of rental power plant units and that the country self-sufficient, the end of 2011. Critics [Who?] Arguing that it is too optimistic.
Foreign trade, remittances, aid and investment
Investment
Foreign direct investment (FDI) in Pakistan increased by 180.6 percent over the previous year to U.S. $ 2,220,000,000 and portfolio investment by 276 percent to $ 407,400,000 in the first nine months of fiscal year 2006, the State Bank of Pakistan (SBP) reported on 24 April. In July-March 2005-06, FDI year on year increased to $ 2,224,000,000 of only $ 792,600,000 and portfolio investment to $ 407,400,000, while it was $ 108,100,000 in the corresponding period last year, the latest statistics released by the State Bank. Pakistan has FDI of nearly $ 8400000000 achieved in fiscal year 06/07, exceeding the government target of four billionth $
Pakistan is now the investment-friendly nation in South Asia. Business regulations were reworked along liberal lines, especially since 1999th Most barriers to the flow of international capital and direct investment were removed. Foreign Investors do not face any restrictions on the inflow of capital, and investment of up to 100% of the equity is allowed in most sectors. Unlimited Transfer of profits, dividends, service fees or capital is now the rule. Rules for companies are now among the most liberal in the region. This was supported by the World Bank's Ease of Doing Business Index report published in September 2009 ranking of Pakistan (at 85) confirmed ahead of neighbors such as China (89th) and India (at 133).
Pakistan attracts an increasing amount of private equity and was the number 20 in the world rankings based on the amount of private equity in the nation. Pakistan has succeeded in creating a much of the global private equity investments because of the economic reforms initiated in 2003 that foreign investors have provided them with greater wear Representation regarding the stability of the nation and its ability to repatriate funds invested in the future.
The rates have an average rate of 16% have been reduced, with a maximum of 25% (except for the automotive industry). The privatization, which began in the early 1990s, has gained momentum with most of the banking system in private hands, and the oil sector targeted on the next big privatization operation.
Recent improvements in the economy and economic conditions have recognized by international rating agencies like Moody and Standard & Poor (country risk upgrade at the end of 2003).
Foreign acquisitions and mergers
With the rapid growth in the Pakistani economy, foreign investors take a keen interest in the business sector in Pakistan. In recent years, have acquired controlling stakes in many companies of multinational corporations.
Singapore-based Temasek Holdings of PICIC for $ 339,000,000
Union Bank by Standard Chartered Bank for $ 487,000,000
Prime Commercial Bank from ABN Amro for $ 228,000,000
Paktel to China Mobile for $ 460,000,000
PTCL to Etisalat for $ 1800000000
Further 57.6% stake in Lakson Tobacco Company acquired by Philip Morris International for $ 382 million
The foreign exchange market Proceeds from these sales help cover the current account deficit.
Foreign Trade
Pakistani exports in 2005
Pakistan is a member of the World Trade Organization, and has bilateral and multilateral trade agreements with many nations and international organizations.
Fluctuating world demand for their exports domestic political uncertainty, and the impact of drought on agricultural production of its occasional contributed to variability in Pakistan's trade deficit.
In the six months to December In 2003, Pakistan's current account surplus of $ 1,761,000,000, about 5% of GDP. Pakistan continues to dominate exports of textiles and clothing made of cotton, despite government Diversification efforts. Exports grew by 19.1% in fiscal 2002-03. Major imports are petroleum and petroleum products, edible oil, chemicals, fertilizers, Capital goods, industrial raw materials and consumer goods.
Historical imbalances Pakistan with a large foreign debt burden. Eradication and Interest payments in fiscal year 1998-99 amounted to $ 2,600,000,000, more than twice the amount paid in fiscal 1989-90. Annual debt service peaked at over 34% of export earnings from falling.
With a growing current account surplus in recent years rapidly in Pakistan hard currency reserves. Improved tax Management, transparency and governance reforms have led to upgrades in Pakistan's credit rating. Together with lower interest rates worldwide, these factors have enabled Pakistan to so you pay in advance, refinancing and rescheduling of its debt to their advantage. Despite the country's current account surplus and exports rose in recent years, Pakistan still has a large merchandise trade deficit. The budget deficit in fiscal year 1996/97 was 6.4% of GDP. The budget deficit in fiscal year 2003/04 is expected amount to about 4% of GDP.
In the late 1990s, Pakistan received over $ 2,500,000,000 per year in loans / grants from international financial institutions (eg IMF, the World Bank and the Asian Development Bank) and bilateral donors. Increasingly shifted the composition of aid to Pakistan from capital grants towards any reimbursable Loans in foreign exchange. All new U.S. economic aid to Pakistan was suspended after October 1990 and further sanctions were imposed after Pakistan's May 1998 nuclear tests. The penalties were of President George W. Bush after Pakistani President Pervez Musharraf lifted Pakistan allied with the United States in its war on terror. With improved its finances, refused The government further assistance from the IMF and so the IMF program was terminated. The government also reduced tariff barriers to bilateral and multilateral agreements.
While the country has a trade surplus and imports and exports have grown strongly in recent years, it still has a large merchandise trade deficit. The budget deficit In fiscal year 2004-2005 was 3.4% of GDP. The budget deficit in fiscal year 2005-06 is expected to amount to more than 4% of GDP. Economists believe that the rising Trade deficit would negatively on Pakistani rupee currency devaluation of its value against the dollar have (1 U.S. $ = 60 rupees (March 2006)) and other currencies.
One of the main reasons why the increase has helped the trade deficit is the increase of imports of earthquake relief related items, especially tents, Tarpaulins and plastic sheeting to provide temporary shelter for the survivors of the earthquake of 8 October 2005 in Azad Jammu and Kashmir and parts of the NWFP, said an official. The increase the trade deficit was also due to high oil import prices, fueled food, machinery and cars.
The oil ministry says that this year the bill of Oil imports was expected to reach $ against $ 4600000000 6500000000 in the last financial year, which is the main reason behind the all-time high trade deficit.
The EU is the largest Trading partner of Pakistan to the over one-third of exports in 2003.
Exports
Pakistan produces export quality footballs
Pakistan exports by more than 100% from $ 7,500,000,000 in 1999 to $ 18,000,000,000 in fiscal year 2007-2008 are.
Pakistan exports rice, furniture, cotton fiber, cement, tiles, marble, textiles, Clothing, leather goods, sports goods, surgical instruments (hand-stitched soccer balls renowned), electric equipment, software, carpets and rugs, ice, Cattle meat, chicken, milk powder, wheat, fish (especially shrimp / prawns), vegetables, processed foods, Pakistani assembled Suzukis (to Afghanistan and other Countries), defense (submarines, tanks, radars), salt, marble, onyx, engineering goods, and many other items. Pakistan is now very good for the Production and export of cement in Asia and Mid-East acknowledged. In August 2007, Pakistan starts exporting cement to India to fill in the deficiency by the construction boom.
Imports
Pakistan's imports totaled $ 30540000000 in fiscal year 2006-2007, of 8.22 percent from last year, imports of $ 28,580,000,000th
Pakistan's largest Category import petroleum and petroleum products. Other imports include: industrial, construction equipment, trucks, cars, computers, computers, medicines, pharmaceuticals, foods, civilian aircraft, armaments, iron, steel, toys, electronics and other consumer goods.
VAT is levied at 15 percent of both imports and domestically produced products. The income and withholding tax is levied at 6 percent of imports and 3.5 percent compared to sales of domestic taxpayers.
External imbalances
Pakistan suffered a trade deficit of $ 13528000000 for the financial year 2006-7. The gap has since 2002-3, when the deficit only $ 1060000000 has been extended. Services deficit for the period 2006-2007 amounted to $ 4125000000, the export of services $ 4125000000 for the same equal Year.
The combined deficit on goods and services stand at 17653000000 $ is the approximately 83.5 percent of the country's total exports of $ 21.136 (goods and services). The increase in trade gap has been attributed to high oil imports and rising prices of foodstuffs, machinery and cars.
Current account deficit – the current account deficit for 2006-7 reached 7.016 billion U.S. dollars by 41 percent over the previous year, $ 4.490 billion.
Since early 2008, Pakistan's economic prospects a dramatic downturn taken. Safety concerns that have made the nation's role in the war on terror has created significant instability and led to a decline in foreign direct investment from a height of about U.S. $ 8 billion to $ 3.5 billion for the current fiscal year. At the same time the uprising massive capital flight from Pakistan has forced into the Gulf. Combines with high global commodity prices, has the dual effect of Pakistan's economy shattered, with gaping trade deficits, high inflation and a fall in the value of the rupee, which 60-1 USD dropped to 80-1 over USD in a few months. For the first time in years, they may look for external funding to support the balance of payments. Consequently, reduced S P & Pakistan foreign currency debt rating to CCC-plus from B, just several notches above a level that would indicate default. Pakistan debt in local currency Rating was lowered to B-minus from BB-minus. Credit agency Moody Investors Service cut its outlook on Pakistan debt from stable to negative due to political uncertainty, although it the country rating in B2.The cost of insuring against a default in Pakistan held national debt trades at 1,800 basis points, after his five-year credit default swap, a level that investors believe the country already or soon gives in default.
The middle term, however, may be less turbulent, depending on the political Environment. The EIU estimates that inflation should fall back to single digits in 2010, with growth expected to exceed 5% per annum until 2011. Although less than recent 5-year average of 7%, would it make to overcome the current crisis, with growth of only 3.5-4%.
Economic aid
Pakistan receives economic aid from several sources as loans and grants. The International Monetary Fund (IMF), World Bank (WB), Asian Development Bank (ADB), etc see long-term loans to Pakistan. Pakistan also receives bilateral aid from developed and oil-rich countries.
The Asian Development Bank is in the vicinity of provide $ 6000000000 development assistance to Pakistan during 2006-9. The World Bank unveiled a lending program of up to $ 6500000000 in the frame for Pakistan a new four-year, 2006-2009, aid policies, a significant increase in funding largely on beefing objective of the infrastructure of the country. Japan, $ 500,000,000 annually provide economic aid to Pakistan. In November 2008, the International Monetary Fund (IMF) approved a loan of 7.6 billion to Pakistan, to help stabilize and rebuild the country's economy. Recently, govt of Pakistan has received economic aid of U.S. $ 5 billion dollars, of which the U.S. pledge of $ 1 billion described as a down payment on the previously already promised $ 1.5 billion in Pakistan for each of the next five years.The European Union $ 640m was pledged over four years, announced while reports said Saudi Arabia had pledged $ 700m over two years. Friends of Pakistan had a total of $ 1600000000 progress in aid that Pakistan on the road to independence would be pledged.
Transfers
Remittances from Pakistanis living abroad has important role in the Pakistan Economic and foreign exchange reserves played. The Pakistanis in Western Europe and North America are located important sources of remittances to Pakistan. Since 1973, the Pakistani workers in oil-rich Arab states sources of billions of dollars in remittances were.
The 7-million-Pakistani diaspora contributed U.S. $ 8 billion to the economy in 2008. The main source of remittances to Pakistan are UAE, USA, Saudi Arabia, GCC countries (including Bahrain, Kuwait, Qatar and Oman), Australia, Canada, Japan, UK and EU countries such as Norway, Switzerland, etc.
An IMF research has shown that workers remittances contribute 4% of GDP Pakistan and are equivalent to about 22 percent of annual exports of goods and services.
Public finances
State Budget Summary
Fiscal year: 1. July – 30 June
Sales: $ 19800000000
Weight:
Debt – external: 39940000000 $ (2005 est.)
Economic aid – recipient: $ 2000000000 (FY97/98)
Revenue and Taxation
This section is the attention from an expert on the subject. See the talk page for details. WikiProject Economics or business portal can help recruit an expert. (October 2009)
Pakistan has to improve a low tax to GDP ratio, which is trying to.
Expenditure
State expenditure was $ (estimated 2006) 25 billion
Government bonds
Pakistan is expected that a dual-tranche of government bonds worth of $ 750,000,000 on 23 for sale in March, 2006, analysts said a favorable reception to ensure the bond market. The 10-year tranche would be $ 500,000,000 and the 30-year-old part of $ 250,000,000. Prices are in New York trading during the period 23rd Expected in March 2006. The sources said that the 10-year tranche was expected that are priced at about 7.125 percent, while the longer-maturity tranche expected to be around 7.875 percent, the upper end of the indicative yield range are sold 7.75 to 7.875 percent.
The bonds, consisting of 10-year-old and 30-year tranches, had $ 1,500,000,000 in orders and a total capacity of up to $ 1,250,000,000 had been expected to produce what Pakistan third trip to the international debt market since 2004.
Government of Pakistan was to withdraw money from the international market for Debt securities from time to time.
Details on the amount raised questions as follows:
1999 – $ 623,000,000
2004 – $ 500 million@6.75 percent
2005-600000000 Islamic bonds worth $
2007 – $ 750 worth € million@6.875 percent bonds, which were very oversubscribed
Income Distribution
Gini index: 41
Household income or consumption by percentage share:
lowest 10%: 4.1%
highest 10%: 27.7% (1996)
lowest 20%: 27.7% (2006)
See also
Ministry of Commerce (Pakistan)
List of tariffs in Pakistan
Ministry of Finance (Pakistan)
Pakistan Board of Investment
Trading Corporation of Pakistan
Rice Export Association of Pakistan
Economy of the OIC
Further Reading
Ahmad, Amjad Rashid and Viqar. 1986th Management Pakistan's economy, 1947-82. Karachi: Oxford University Press.
Ali, Imran. 1997th Telecommunication development in Pakistan, in EM Noam (Eds.), Telecommunications in Western Europe Asia and the Middle East. New York: Oxford University Press.
Ali, Imran. 2001a. he historical lines of poverty and exclusion in Pakistan. Paper presented at Conference on realm Society and nation in South Asia. National University of Singapore.
Ali, Imran. 2001b. usiness and power in Pakistan, in AM Weiss and SZ Gilani (eds), power and civil society in Pakistan. Karachi: Oxford University Press.
Ali, Imran. 2002nd ast and Present: The Making of the State in Pakistan, Imran Ali, S. Mumtaz and JL Racine (eds), Pakistan: The contours of the state and society. Karachi: Oxford University Press.
Ali, Imran, A. Hussain. 2002nd Pakistan National Human Development Report. Islamabad: UNDP.
Ali, Imran, S. Mumtaz and JL Racine (eds). 2002nd Pakistan: The contours of the state and society. Karachi: Oxford University Press.
Amjad, Rashid. 1982nd Private Industrial Investment in Pakistan 1960-70. London: Cambridge University Press.
Andrus, JR and AF Mohammed. 1958th The economy of Pakistan. Stanford: Stanford University Press.
Barrier, NG 1966th The Punjab Alienation the country's Bill of 1900. Durham, NC: Duke University South Asia Series.
Jahan, Rounaq. 1972nd Pakistan: Failure in National Integration Plan. New York: Columbia University Press.
Kessinger, TG 1974th Vilyatpur, 1848-1968. Berkeley and Los Angeles: University of California Press.
Kochanek, SA 1983rd Interest Groups and Development: Economy and Politics in Pakistan. New Delhi: Oxford University Press.
LaPorte, Jr., Robert and MB Ahmad. 1989th Public enterprises in Pakistan. Boulder, Colorado: Westview Press.
Latif, SM 1892nd Lahore. Lahore: New Imperial Press, reprinted 1981, Lahore: Sandhu printer.
Low, DA (Eds.). 1991st The political legacy of Pakistan. London: Macmillan.
Noman, Omar. 1988th The Political Economy of Pakistan. London: KPI.
Papanek, GF 1967th Pakistan Development: Social Goals and Private Incentives. Cambridge, Massachusetts: Harvard University Press.
Raychaudhuri, Tapan and Irfan Habib (eds). 1982nd The Cambridge Economic History of India, 2 vols. Cambridge: Cambridge University Press
White, LJ 1974th Industrial Concentration and economic power. Princeton, NJ: Princeton University Press.
Ziring, Lawrence. 1980th Pakistan: The enigma of political development. Boulder, Colorado: Folkestone.
Ali, Imran. 1987th Growth target? Agricultural colonization and the roots of backwardness in the Punjab, Past and Present, 114
Ali, Imran. August 2002. he historical lines of poverty and exclusion in Pakistan, South Asia, XXV (2).
Ali, Imran and S. Mumtaz. 2002nd Santander Pakistanhe effects of global standing, regional, national and local interactions, in Imran Ali, S. Mumtaz and JL Racine (eds), Pakistan: The contours of state and society. Karachi: Oxford University Press.
Hasan, Parvez. 1998th Pakistan Economy at the Crossroads: Past Policies and Present Imperatives. Karachi: Oxford University Press.
Hussain, Ishrat. 1999th Pakistan: The economy of a elitist state. Karachi: Oxford University Press.
Khan, Shahrukh Rafi. 1999th Fifty years of Pakistan economy: traditional and contemporary themes concerns. Karachi: Oxford University Press.
Kibria, Ghulam. 1999th Shattered Dream: Understanding Pakistan development. Karachi: Oxford University Press.
Kukreja, Veena. 2003rd Contemporary Pakistan: political processes, conflicts and crises. New Delhi: Sage Publications.
Zaidi, S. Akbar. 1999th Problems in Pakistan economy. Karachi: Oxford University Press
References
^ From "Pakistan." The World Factbook. CIA. https: / / www.cia.gov / library / publications / the … About the Author
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