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Encyclopedia > Economy of Pakistan

The economy of Pakistan is the 2nd largest economy in the world as measured by purchasing power parity (PPP). With the world's sixth-largest population, Pakistan has developed a highly-skilled labor force with business friendly policies. Economic growth (6-7%) and foreign investment is strong. At purchasing power parity, Pakistan's GDP is $475.5 billion. The World Bank classifies Pakistan as a low-income economy.[1] Gross domestic product (by purchasing power parity) in 2006 The purchasing power parity (PPP) theory was developed by Gustav Cassel in 1920. ... The World Bank (the Bank), a part of the World Bank Group (WBG), was formally established on December 27, 1945, following the ratification of the Bretton Woods agreement. ...

Economy Of Pakistan
Currency 100 Pakistani Rupee (PKR)
= 1.64908 US dollar
= 1.23810 Euro
Fiscal year July 1June 30
Current fiscal year (2007—2008)
Central bank The State Bank of Pakistan (SBP)
Trade organizations and treaties ECO, SAFTA, ASEAN, WIPO and WTO
Fiscal Budget $24.5 billion (revenue)
$31.07 billion (expenditure)
Inflation 7.9% (2006 est.)[2]
People
President Pervez Musharraf
Prime Minister Shaukat Aziz
Commerce Minister Humayun Akhtar Khan
SBP Governor Dr. Shamshad Akhtar
SECP Razi ur Rehman Khan
Gross Domestic Product (GDP)
GDP at PPP $475.5 billion (2007) [5]
GDP at current exchange rates
GDP real growth rate (at PPP) 6.9%[3] (2006 est.)
GDP growth rate 7% (2007 est.)[4]
GDP per capita $3,004 (2007)
GDP by sector agriculture: 21.6% industry: 25.1% services: 53.3% (2006 est.)[4]
Demographics
Population 165,803,560 (2006 est.)
Population below poverty line 23% (2007)
Labor force 48.29 million
Unemployment rate 6.6% (2006 est.)
Production
Agricultural products cotton, wheat, rice, sugarcane, fruits, vegetables; milk, beef, mutton, eggs, shrimp, poultry, tea
Main industries Automotive, textiles, chemicals, food processing, steel, transport equipment, machinery, beverages, construction, materials, clothing, paper products.
International trade
Imports (2006 est.) $32.14 billion

f.o.b (57th[5]) (2006 est.) The Pakistani rupee (PKR) is the currency of Pakistan. ... The United States dollar is the official currency of the United States. ... For other uses, see Euro (disambiguation). ... is the 182nd day of the year (183rd in leap years) in the Gregorian calendar. ... is the 181st day of the year (182nd in leap years) in the Gregorian calendar. ... The State Bank of Pakistan (SBP) is the central bank of Pakistan. ... For the political science journal, see International Organization. ... A treaty is a binding agreement under international law concluded by subjects of international law, namely states and international organizations. ... Map of the ECO member states The Economic Cooperation Organization (ECO) is an intergovernmental international organization involving ten Asian nations. ... The South Asia Free Trade Agreement is an agreement reached at the 12th South Asian Association for Regional Cooperation (SAARC) summit at Islamabad, capital of Pakistan on 6 January 2004. ... ASEAN[1], pronounced // (AH-SEE-AHN) in English, or the Association of Southeast Asian Nations, is a geo-political and economic organization of 10 countries located in Southeast Asia, which was formed on August 8, 1967 by Indonesia, Malaysia, the Philippines, Singapore, and Thailand[2] as a display of solidarity... The World Intellectual Property Organization (WIPO) is one of the specialized agencies of the United Nations, and has as its core objectives the promotion of creative intellectual activity and the facilitation of the transfer of technology related to intellectual property to the developing countries in order to accelerate economic, social... For other uses of the initials WTO, see WTO (disambiguation). ... The President of Pakistan (UrdÅ«: صدر مملکت Sadr-e-Mamlikat) is Head of State of Pakistan. ... General Pervez Musharraf (Urdu: پرويز مشرف) (born August 11, 1943) is the President of Pakistan, the Chief of Army Staff of the Pakistan Army and had become the leader of the country in wake of a coup. ... The Prime Minister of Pakistan (Urdu: وزیر اعظم Wazir-e- Azam) is the Head of Government of Pakistan. ... Shaukat Aziz (Urdu:: شوکت عزیز) (born March 6, 1949 in Karachi, Pakistan) is the current Prime Minister and Finance Minister of Pakistan. ... A Commerce Minister is responsible for external trade of the country. ... Humayun Akhtar Khan is currently (2006) the Minister of Commerce for Pakistan. ... Here is a list of the Governors of the State Bank of Pakistan. ... Dr Shamshad Akhtar was appointed by the President of Pakistan as the governor of the State Bank of Pakistan for three years in December 2005. ... It has been suggested that this article or section be merged with SECP. (Discuss) The Securities and Exchange Commission of Pakistan // History The Securities and Exchange Commission of Pakistan was created to succeed the Corporate Law Authority, which was an attached Department of Ministry of Finance. ... Gross domestic product (by purchasing power parity) in 2006 The purchasing power parity (PPP) theory was developed by Gustav Cassel in 1920. ... Map of countries showing percentage of population who have an income below the national poverty line The poverty line is the level of income below which one cannot afford to purchase all the resources one requires to live. ... This article does not cite any references or sources. ... For other uses, see Cotton (disambiguation). ... Species T. aestivum T. boeoticum T. dicoccoides T. dicoccon T. durum T. monococcum T. spelta T. sphaerococcum T. timopheevii References:   ITIS 42236 2002-09-22 Wheat Wheat For the indie rock group, see Wheat (band). ... For other uses, see Rice (disambiguation). ... Species Saccharum arundinaceum Saccharum bengalense Saccharum edule Saccharum officinarum Saccharum procerum Saccharum ravennae Saccharum robustum Saccharum sinense Saccharum spontaneum Sugarcane or Sugar cane (Saccharum) is a genus of 6 to 37 species (depending on taxonomic interpretation) of tall perennial grasses (family Poaceae, tribe Andropogoneae), native to warm temperate to tropical... Popular Japanese fashion magazine throughout the 1990s; the photography of which has recently been reissued in two collections from Phaidon press. ... Vegetables on a market Vegetable is a nutritional and culinary term denoting any part of a plant that is commonly consumed by humans as food, but is not regarded as a culinary fruit, nut, herb, spice, or grain. ... A glass of cows milk. ... For other uses, see Beef (disambiguation). ... An unweaned lamb Legs of lamb in a supermarket cabinet The terms lamb, hoggett or mutton are culinary names for the meat of a domestic sheep. ... An egg is a body consisting of an ovum surrounded by layers of membranes and an outer casing of some type, which acts to nourish and protect a developing embryo. ... Superfamilies Alpheoidea Atyoidea Bresilioidea Campylonotoidea Crangonoidea Galatheacaridoidea Nematocarcinoidea Oplophoroidea Palaemonoidea Pandaloidea Pasiphaeoidea Procaridoidea Processoidea Psalidopodoidea Stylodactyloidea True shrimp are swimming, decapod crustaceans classified in the infraorder Caridea, found widely around the world in both fresh and salt water. ... This article does not cite any references or sources. ... For other uses, see Tea (disambiguation). ... Car redirects here. ... This article is about the type of fabric. ... Chemical tanks in Lillebonne, France Chemical industry includes those industries involved in the production of petrochemicals, agrochemicals, pharmaceuticals, polymers, paints, oleochemicals etc. ... Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. ... For other uses, see Steel (disambiguation). ... A machine is any mechanical or electrical device that transmits or modifies energy to perform or assist in the performance of tasks. ... The word drink is primarily a verb, meaning to ingest liquids, see Drinking. ... This article does not cite any references or sources. ... material is the substance or matter from which something is or can be made, or also items needed for doing or creating something. ... Clothing protects the vulnerable nude human body from the extremes of weather, other features of our environment, and for safety reasons. ... F.O.B redirects here. ...

Major imported commodities Petroleum, Petroleum products, Machinery, Plastics, Transportation equipment, Edible oils, Paper and paperboard, Iron and steel, Tea
Main import partners (2006) China 14.7%, Saudi Arabia 10.1%, UAE 8.7%, Japan 6.5%, United States 5.3%, Germany 5%, Kuwait 4.9% (2006 est.)[4]
Exports $17.56 billion (2006 est.)

(67th[6]) (2006 est. ) UAE redirects here; for other uses of that term, see UAE (disambiguation) The United Arab Emirates is an oil-rich country situated in the south-east of the Arabian Peninsula in Southwest Asia, comprising seven emirates: Abu Dhabi, Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah and Umm al-Quwain. ...

Major exported commodities textile goods (garments, bed linen, cotton cloths, and yarn), rice, leather goods, sports goods, chemicals manufactures, carpets and rugs.
Main export partners United States 22.4%, UAE 8.3%,UK 6%, China 5.4%, Germany 4.7% (2006 est.)
Overall balance of payments (2006) -$1.753 billion[7]
Note:
  1. Data is for 2005-06, unless specified otherwise.
  2. Pakistan's ranking, where applicable, are specified in brackets, and linked to the source data.
  3. CIA Pakistan Section from The World Factbook, dated November 1, 2005.
  4. Pakistan Government Website

Contents

For other uses, see Textile (disambiguation). ... (See also List of types of clothing) Introduction Humans often wear articles of clothing (also known as dress, garments or attire) on the body (for the alternative, see nudity). ... Yarn Spools of thread Yarn is a long continuous length of interlocked fibers, suitable for use in the production of textiles, sewing, crocheting, knitting, weaving, embroidery and ropemaking. ... For other uses, see Rice (disambiguation). ... Modern leather-working tools Leather is a material created through the tanning of hides and skins of animals, primarily cattlehide. ... Carpet is a general term given to any loom-woven or felted textile and to grass floor coverings. ... Carpet is a general term given to any loom-woven or felted textile and to grass floor coverings. ... UAE redirects here; for other uses of that term, see UAE (disambiguation) The United Arab Emirates is an oil-rich country situated in the south-east of the Arabian Peninsula in Southwest Asia, comprising seven emirates: Abu Dhabi, Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah and Umm al-Quwain. ... The balance of payments is a measure of the payments that flow from one exports and imports of goods, services, and financial capital, as well financial transfers. ... The World Factbook 2007 (government edition) cover. ... is the 305th day of the year (306th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ...

Economic history

First five decades

This is a chart of trend of gross domestic product of Pakistan at market prices estimated[8] by the International Monetary Fund with figures in millions of Pakistani Rupees. See also [6]

Year Gross Domestic Product US Dollar Exchange Inflation Index (2000=100)
1960 20,058 4.76 Pakistani Rupees
1965 31,740 4.76 Pakistani Rupees
1970 51,355 4.76 Pakistani Rupees
1975 131,330 9.91 Pakistani Rupees
1980 283,460 9.90 Pakistani Rupees 21
1985 569,114 16.28 Pakistani Rupees 30
1990 1,029,093 21.41 Pakistani Rupees 41
1995 2,268,461 30.62 Pakistani Rupees 68
2000 3,826,111 51.64 Pakistani Rupees 100
2005 6,581,103 60.40 Pakistani Rupees 126

Pakistan was a very poor and predominantly agricultural country when it gained independence in 1947. Pakistan's average economic growth rate since independence has been higher than the average growth rate of the world economy during the period. Averageannual real GDP growth rates were 6.8% in the 1960s, 4.8% in the 1970s, and 6.5% in the 1980s. Average annual growth fell to 4.6% in the 1990s with significantly lower growth in the second half of that decade. The 1960s decade refers to the years from 1960 to 1969, inclusive. ... The 1970s decade refers to the years from 1970 to 1979, also called The Seventies. ... The 1980s refers to the years from 1980 to 1989. ... For the band, see 1990s (band). ...


Industrial-sector growth, including manufacturing, was also above average. In the late 1960s Pakistan was seen as a model of economic development around the world, and there was much praise for its economic progression. Later, economic mismanagement in general, and fiscally imprudent economic policies in particular, caused a large increase in the country's public debt and led to slower growth in the 1990s. Two wars with India in 1965 and 1971 adversely affected economic growth.[9] In particular, the latter war brought the economy close to recession, although economic rebounded sharply until the nationalizations of the mid-1970s. The 1965 war between India and Pakistan, also known as the Second Kashmir War, was the culmination of a series of skirmishes that occurred between April 1965 and September 1965. ... Combatants Mukti Bahini India Aided By Soviet Union Pakistan Aided By United States Commanders • Col. ... Nationalization or nationalisation is the act of transferring assets into public ownership. ...


Economic resilience

Historically, Pakistan's overall economic output (GDP) has grown every year since a 1951 recession. Despite this record of sustained growth, Pakistan's economy had, until a few years ago, been characterized as unstable and highly vulnerable to external and internal shocks. However, the economy proved to be unexpectedly resilient in the face of multiple adverse events concentrated into a four-year period — In macroeconomics, the definition of recession is a decline in any countrys Gross Domestic Product (GDP), or negative real economic growth, for two or more successive quarters of a year. ... In economics a shock is an unexpected or unpredictable event that affects an economy. ...

Despite these adverse events, Pakistan's economy kept growing, and economic growth accelerated towards the end of this period. This resilience has led to a change in perceptions of the economy, with leading international institutions such as the IMF, World Bank, and the ADB praising Pakistan's performance in the face of adversity. The Asian financial crisis was a financial crisis that started in July 1997 in Thailand and affected currencies, stock markets, and other asset prices in several Asian countries, many considered East Asian Tigers. ... Economic sanctions are economic penalties applied by one country (or group of countries) on another for a variety of reasons. ... General Colin Luther Powell, United States Army (Ret. ... In macroeconomics, the definition of recession is a decline in any countrys Gross Domestic Product (GDP), or negative real economic growth, for two or more successive quarters of a year. ...   (Urdu: , Sindhi: ) is the largest city in Pakistan and is the provincial capital of Sindh province. ... Fields outside Benambra, Victoria, Australia suffering from drought conditions A drought is an extended period of months or years when a region notes a deficiency in its water supply. ... This article is about U.S. actions, and those of other states, after September 11, 2001. ... The Kashmir earthquake (also known as the South Asia earthquake or the Great Pakistan earthquake) of 2005 of which the epicenter was the Pakistan-administered Kashmir. ...


Recent economic history

Pakistan's economic outlook has brightened in recent years in conjunction with rapid economic growth and a dramatic improvement in its foreign exchange position as a result of its current account surplus and a consequent rapid growth in hard currency reserves. In the last decade of the twentieth century, Pakistan had experienced severe fiscal imbalances — its debt had grown rapidly during the 1990s. Nuclear tests in May 1998 triggered the imposition of economic sanctions by the G-7, and in early 1999 Pakistan narrowly averted defaulting on its debt. Although the country had been receiving IMF assistance, the government had difficulty meeting the conditionality of the IMF program, which was suspended in July 1999 and resumed later during the administration of Pervez Musharraf. Having improved its finances, Pakistan's government announced in 2004 that it would no longer require IMF assistance, and the assistance program ended in that year.[10] ‹ The template below is being considered for deletion. ... Blue = countries in current account surplus; Red = countries in current account deficit, 2005 The current account of the balance of payments is the sum of the balance of trade (exports less imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as... It has been suggested that Soft currency be merged into this article or section. ... 1983 G-7 Economic Summit in Williamsburg, Virginia (left to right) Pierre Trudeau, Gaston Thorn, Helmut Kohl, François Mitterrand, Ronald Reagan, Yasuhiro Nakasone, Margaret Thatcher, Amintore Fanfani. ... A conditionality in international development is a condition attached to a loan or to debt relief, typically by the International Monetary Fund or World Bank. ... General Pervez Musharraf (Urdu: پرويز مشرف) (born August 11, 1943) is the President of Pakistan, the Chief of Army Staff of the Pakistan Army and had become the leader of the country in wake of a coup. ...


With accelerating economic growth, economists are now emphasizing a different range of problems. According to John Wall, the World Bank Country Director for Pakistan,

Now Pakistan faces higher quality problems—the problems of success. Demand has risen faster than supply. This has shown up in high inflation and a zooming trade deficit. The “tight fiscal, easy money” formula to get growth going needs to be “tight fiscal, tight money and credit” to sustain rapid growth. Idle domestic production capacity allowed the rising demand to be accommodated by rising capacity utilization in cement, steel, fertilizer, textiles, automobiles and motorcycles. Now that capacity is more than fully utilized, resulting in backlogs and imports.[11]

Musharraf's economic agenda continues to include measures to widen the tax net, privatize public sector assets, and improve its balance of trade. Pakistan has made governance reforms, privatization, and deregulation the cornerstones of its economic revival [7]. This article does not adequately cite its references or sources. ... Deregulation is the process by which governments remove, reduce, or simplify restrictions on business and individuals in order to (in theory) encourage the efficient operation of markets. ...


Although it received a positive endorsement from international financial institutions such as the World Bank, the International Monetary Fund and the Asian Development Bank, as well as improved credit ratings from Standard & Poor's and Moody's. It has been suggested that World Bank be merged into this article or section. ... “IMF” redirects here. ... The Asian Development Bank (ADB) is a regional development bank established in 1966 to promote economic and social development in Asian and Pacific countries through loans and technical assistance. ... Publications Standard & Poors publishes a weekly (48 times a year) stock market analysis newsletter called The Outlook, which is issued both in print and online to subscribers. ... Moodys Corporation (NYSE: MCO) is the holding company for Moodys Investors Service which performs financial research and analysis on commercial and government entities. ...


Pakistan's current account surplus had put upward pressure on the Pakistani rupee, which rose from 64 rupees per dollar to 57 rupees per dollar. The State Bank of Pakistan (the central bank) stabilized the rise by lowering interest rates and buying dollars.</nowiki> After short-term Pakistani T-bond rates fell below 2%, with government borrowing having declined, banks greatly expanded their lending to businesses and consumers. Construction activity, sales of durable goods such as trucks and automobiles, and housing purchases have all jumped to record levels. Private sector credit expanded by 28.5% in 2003, and continues to expand despite monetary restraints — the SBP imposed interest-rate increases to moderate money supply and prevent "overheating". The State Bank of Pakistan (SBP) is the central bank of Pakistan. ... The State Bank of Pakistan (SBP) is the central bank of Pakistan. ...


Despite rapid growth in domestic automobile manufacturing, imports have also risen to meet the increased demand. Major automakers, such as BMW, Toyota, and Honda have invested in manufacturing facilities in the country. For other uses, see BMW (disambiguation). ... This article is about the automaker. ... This article is about the Japanese motor corporation. ...


Pakistan's nominal gross domestic product (GDP) in 1997 was US$ 75.3 billion. Five years later in 2002, the country's nominal GDP came down to US$ 71.5 billion. During this five-year period, the real GDP grew by a meagre 3.0 per cent on an average. Pakistan government's debt was 82 per cent of its GDP in 2002. Over one-third of the government's revenue was being used up in making interest payments on the national debt. The near stagnant economy suddenly started showing miraculous growth in 2002 after lifting of economic sanctions imposed after Pakistan's 1998 nuclear tests . The economy grew at 5.1 per cent in 2003, 6.4 per cent in 2004 and 7.0 per cent in 2005. The US$ 72 billions economy of 2002 has swelled into a US$ 108 billion economy in 2005. During 1997-2002 Pakistan's average export growth has been 1.2 per cent per year and increased to 13 per cent per year during 2003-05. Pakistan's debt as a percentage of the GDP came down to 59 per cent in 2005 from 82 per cent in 2002. Pakistan government's interest payment as a percentage of revenue collection came down to 23 per cent in 2005 as compared to 35 per cent in 2002.


According to the Asian Development Bank, the first half of FY2006 was marked by a slowdown in both industry and agriculture in Pakistan. Output of cotton declined by an estimated 10.9 per cent from an all-time high of 14.6 million bales harvested in FY2005. Production of sugarcane, another major summer crop, is also estimated lower than last year. The growth of large-scale manufacturing slowed to 8.7 per cent in the first quarter of FY2006 from 24.9 per cent in the same period of last year, primarily due to capacity constraints and the high-base effect. Among individual industries in the first quarter, growth of textiles tumbled to 7.2 per cent from 29.6 per cent year on year. Automobile assembly and electronics, which have shown the fastest expansion among sub-sectors in the last 2-3 years, also decelerated. Inflation accelerated in FY2005 after five years of price stability. Annual inflation, based on the consumer price index, more than doubled to 9.3 per cent from 4.6 per cent, mainly because of higher food prices and rising house rents. Due to a sharp increase in domestic oil prices, transport costs also jumped. Core -- nonfood, non-oil -- inflation also doubled, from 3.7 per cent to 7.4 per cent . The Asian Development Bank (ADB) is a regional development bank established in 1966 to promote economic and social development in Asian and Pacific countries through loans and technical assistance. ...


Pakistan is among the fastest growing economies in the world as its economy has reached the size of $140 billion from a mere $70 billion a few years earlier, Federal Advisor on Finance Dr Salman Shah informed the media. Per capita income now stands at $808.


The Economic Survey of Pakistan for 2006-2007 has concluded the country's economy recorded 7.3 pecent growth.[12] . Prime Minister Shaukat Aziz says that Pakistan economy should continue to grow every year at about seven percent and he also assured that many measures will be taken to give the economy a further boost. He promised privitization of companies and he has also invested in the economy by allowing free education for under 16's. He has also come up with a scheme to pay girls two hundred rupees a month as an incentive to attend school. Also in the next five years many foreign universities from different European nations have announced they will be opening campuses in Pakistan.[13]


Macroeconomic reform and prospects

Islamabad Business Offices

According to many sources, the Pakistani government has made substantial economic reforms since 2000, and medium-term prospects for job creation and poverty reduction are the best in nearly a decade. Image File history File links Download high resolution version (900x600, 52 KB) Summary Islamabd Photo Licensing I, the creator of this work, hereby release it into the public domain. ... Image File history File links Download high resolution version (900x600, 52 KB) Summary Islamabd Photo Licensing I, the creator of this work, hereby release it into the public domain. ...


Government revenues have greatly improved in recent years, as a result of economic growth, tax reforms - with a broadening of the tax base, and more efficient tax collection as a result of self-assessment schemes and corruption controls in the Central Board of Revenue - and the privatization of public utilities and telecommunications. Pakistan is aggressively cutting tariffs and assisting exports by improving ports, roads, electricity supplies and irrigation projects. Islamabad has doubled development spending from about 2% of GDP in the 1990s to 4% in 2003, a necessary step towards reversing the broad underdevelopment of its social sector. The Central Board of Revenue (commonly known as acronym CBR) is a federal department of Pakistan that is responsible for collecting revenue for the government of Pakistan[1] This is a chart of trend of taxes collected by the Central Board of Revenue of Pakistan with figures in millions of...


Liberalization in the international textile trade has already yielded benefits for Pakistan's exports, and the country also expects to profit from freer trade in agriculture. As a large country, Pakistan hopes to take advantage of significant economies of scale, and to replace China as the largest textile manufacturer as the latter China moves up the value-added chain. These industries play to Pakistan's relative strengths in low labor costs.


Growing stability in the nation's monetary policies has contributed to a reduction in money-market interest rates, and a great expansion in the quantity of credit, changing consumption and investment patterns in the nation. Pakistan's domestic natural gas production, and its significant use of CNG in automobiles, has cushioned the effect of the oil-price shock of 2004-2005. Pakistan is also moving away from the doctrine of import substitution which some developing countries (such as Iran) dogmatically pursued in the twentieth century. The Pakistani government is now pursuing an export-driven model of economic growth successfully implemented by South East Asia and now highly successful in China. For other uses, see Natural gas (disambiguation). ... Typical North America vehicles carry this diamond shape symbol, meaning it is running on compressed natural gas fuel. ... In economics a shock is an unexpected or unpredictable event that affects an economy. ...


In 2005, the World Bank reported that The World Bank (the Bank), a part of the World Bank Group (WBG), was formally established on December 27, 1945, following the ratification of the Bretton Woods agreement. ...

"Pakistan was the top reformer in the region and the number 10 reformer globally — making it easier to start a business, reducing the cost to register property, increasing penalties for violating corporate governance rules, and replacing a requirement to license every shipment with two-year duration licenses for traders."[14]

In addition, reduced tensions with India and the ongoing peace process raise new hopes for a prosperous and stable South Asia, with more intra-regional trade. Map of South Asia (see note on Kashmir). ...


Shahid Javed Burki, former vice president of World Bank and who was in charge of the bank’s Latin American division when Mexico was hit by the crisis in 1994, said Pakistan is facing symptoms that preceded the Mexican financial crisis more than 10 years ago.[15] He points to the nation’s current account deficit, ‘excessive’ speculative business activity and weak banking system. Shahid Javed Burki is a professional economist who has served as Finance Minister of Pakistan and as a Vice President of the World Bank. ... The World Bank (the Bank), a part of the World Bank Group (WBG), was formally established on December 27, 1945, following the ratification of the Bretton Woods agreement. ...


The economy today

Stock market

In the first four years of the twenty-first century, Pakistan's KSE 100 Index was the best-performing stock market index in the world as declared by the international magazine “Business Week”. The KSE 100 is a stock market index of the top 100 listed companies on the Karachi Stock Exchange. ... A comparison of three major stock indices: the NASDAQ Composite, Dow Jones Industrial Average, and S&P 500. ...


The stock market capitalisation of listed companies in Pakistan was valued at $45,937 million in 2005 by the World Bank.[8] As a result, the corporate sector of Pakistan has grown dramatically in significance in recent times. Market capitalization, often abbreviated to market cap, mkt. ... The World Bank (the Bank), a part of the World Bank Group (WBG), was formally established on December 27, 1945, following the ratification of the Bretton Woods agreement. ... Pakistan Inc. ...

Image File history File links Karachi_at_night. ... Image File history File links Karachi_at_night. ...   (Urdu: , Sindhi: ) is the largest city in Pakistan and is the provincial capital of Sindh province. ... In brief, financial capital is money used by entreprenuers and businesses to buy what they need to make their products (or provide their services). ...

Manufacturing and finance

Pakistan's manufacturing sector has experienced double-digit growth in recent years, with large-scale manufacturing growing by 18% in 2003. A reduction in the fiscal deficit has resulted in less government borrowing in the domestic money market, lower interest rates, and an expansion in private sector lending to businesses and consumers. Foreign exchange reserves continued to reach new levels in 2003, supported by robust export growth and steady worker remittances. Fiscal municipality in Huesca, Spain The term fiscal refers to government debt, expenditures and revenues, or to finance (particularly financial revenue) in general. ... A budget deficit occurs when an entity (often a government) spends more money than it takes in. ... This article is about short-term financing. ... An interest rate is the rental price of money. ... The private sector of a nations economy consists of all that is outside the state. ...


Growing middle class

Measured by purchasing power, Pakistan has a 30 million strong middle class, according to Dr. Ishrat Husain, Ex-Governor (2 December 1999 - 1 December 2005) of the State Bank of Pakistan.[16] It is a figure that correlates with research by Standard Chartered Bank which estimates that Pakistan possesses a "a middle class of 30 million people that Standard Chartered estimates now earn an average of about $10,000 a year."[17] In addition, Pakistan has a growing upper class with relatively high per capita incomes. Ishrat Husain was the 13th Governor of State Bank of Pakistan, Pakistans Central bank. ... is the 336th day of the year (337th in leap years) in the Gregorian calendar. ... This article is about the year. ... is the 335th day of the year (336th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... The State Bank of Pakistan (SBP) is the central bank of Pakistan. ...


On measures of income inequality, the country ranks slightly better than the median. In late 2006, the Central Board of Revenue estimated that there were almost 2.8 million income-tax payers in the country. [9] Income inequality metrics or income distribution metrics are techniques used by economists to measure the distribution of income among the participants in a particular economy, such as that of a specific country or of the world in general. ... World map of the Gini coefficient This is a list of countries or dependencies by Income inequality metrics, sorted in ascending order according to their Gini coefficient. ... The Central Board of Revenue (commonly known as acronym CBR) is a federal department of Pakistan that is responsible for collecting revenue for the government of Pakistan[1] This is a chart of trend of taxes collected by the Central Board of Revenue of Pakistan with figures in millions of...


Poverty alleviation expenditures

Main article: Poverty in Pakistan

Pakistan government spent over 1 trillion Rupees (about $16.7 billion) on poverty alleviation programs during the past four years, cutting poverty from 35 percent in 2000-01 to 24 percent in 2006.[18] Rural poverty remains a pressing issue, as development there has been far slower then in the major urban areas. A slum in Karachi, Pakistan with an open sewer running along the lane Poverty in Pakistan, is a major economic issue. ...


Demographics

With a per capita GDP of about $2600 (PPP, 2005) the World Bank considers Pakistan a low-income country, although it is recorded as a "Medium Development Country" on the Human Development Index 2005. Pakistan has a large informal economy, which the government is trying to document and assess. Approximately 41% of adults are literate, and life expectancy is about 62 years. The population, about 165 million in 2006, is growing at about 1.96%. Demographics of Pakistan, Data of FAO, year 2005 ; Number of inhabitants in thousands. ... Gross domestic product (by purchasing power parity) in 2006 The purchasing power parity (PPP) theory was developed by Gustav Cassel in 1920. ...


Relatively few resources have been devoted to socio-economic development or infrastructure projects. Inadequate provision of social services and very high birth rates in the past have contributed to a persistence of poverty. An influential recent study[19] concluded that the fertility rate peaked in the 1980s, and has since fallen sharply. Pakistan has a family-income Gini index of 41, close to the world average of 39. The Gini coefficient is a measure of inequality developed by the Italian statistician Corrado Gini and published in his 1912 paper Variabilità e mutabilità. It is usually used to measure income inequality, but can be used to measure any form of uneven distribution. ...


Employment

The high population growth in the past few decades has ensured that a very large number of young people are now entering the labor market. Among the seven most populous Asian nations, Pakistan has a lower population density than Bangladesh, Japan, India, and the Philippines. In the past, excessive red tape made firing, and consequently hiring, difficult. Significant progress in taxation and business reforms has ensured that many firms now are not compelled to operate in the underground economy.[20]


In late 2006, the government launched an ambitious nationwide service employment scheme aimed at disbursing almost $2 billion over five years. [10] [11]


Revenue

The Board of Revenue has collected nearly Rs. 700 billion ($11.6 billion ) in taxes in the 2005-2006 financial year.[21] The Board of Revenue was a Colonial British institution and part of the British Raj in India. ...


Currency system

Main article: Pakistani Rupee
Rupee, The 1,000 rupee note is the second highest denomination currently printed
Rupee, The 1,000 rupee note is the second highest denomination currently printed

The Pakistani rupee (PKR) is the currency of Pakistan. ... Image File history File links Pakistan_1000_Rupees_b. ... Image File history File links Pakistan_1000_Rupees_b. ... The Pakistani rupee (PKR) is the currency of Pakistan. ...

Rupee

The basic unit of currency is the Rupee, which is divided into 100 paisas. Since the turn of the century, a strengthening economy and large current-account surplus has caused the rupee's exchange rate to rise in value. In response, Pakistan's central bank has prevented the rupee from rising too much, by lowering interest rates and buying dollars, in order to preserve the country's export competitiveness. As of 2005, one US dollar is approximately equal to 60 rupees. Currently the newly printed 5,000 rupee note is the largest denomination in circulation. Recently the SBP has introduced all new design notes of Rs.10,20,50,100,500,1000,5000 denomination, while the work of Rs.10,000 note is in progress which will help the banking industry in keeping few notes in saving accounts. The Pakistani rupee (PKR) is the currency of Pakistan. ... 2005 is a common year starting on Saturday of the Gregorian calendar. ...


The new notes has been designed using the Euro technology has are in good bright colors.


Foreign exchange rate

1 Pakistani Rupee (PKR) = 100 Paise
Dollar-Rupee exchange rate
Dollar-Rupee exchange rate

The Pakistani rupee depreciated against the US dollar until the turn of the century, when Pakistan's large current-account surplus pushed the value of the rupee up versus the dollar. Pakistan's central bank then stabilized by lowering interest rates and buying dollars, in order to preserve the country's export competitiveness Image File history File links Download high resolution version (1140x840, 17 KB)Dollar-Rupee Exchange Rate Graph July 1, 2001 - December 31, 2003; Author=Egalitus File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Image File history File links Download high resolution version (1140x840, 17 KB)Dollar-Rupee Exchange Rate Graph July 1, 2001 - December 31, 2003; Author=Egalitus File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ...

  • Exchange rates: Pakistani rupee (PKR) per US$1
    • 58 (2004)
    • 57.752 (2003)
    • 59.7238 (2002)
    • 61.9272 (2001)
    • 53.6482 (2000)
    • 51.90 (1999)
    • 44.550 (1998)
    • 40.185 (1997)
    • 35.266 (1996)
    • 30.930 (1995)
    • 60.75 (05/08/2007)

The Pakistani rupee (PKR) is the currency of Pakistan. ...

Foreign exchange reserves

In 2007 Pakistan's foreign exchange reserves were $13 billion - a twelvefold rise since 2001.[12]


Structure of economy

From modest beginnings, Pakistani economy has moved successfully to a low-inflation high-growth trajectory since 2000. The central bank has controlled inflation at around 3% per annum in recent years - a record since 1980.


Over 1,081 patent applications were filed by non-resident Pakistanis in 2004 revealing a new found confidence.[13]

Sectoral contribution to GDP Growth
Most of the recent acceleration in GDP growth has come from the industrial and service sectors.
GDP growth by sector, as a percentage of GDP
Sector 2001-02 2002-03 2003-04 2004-05
Agriculture 0.03 1.01 0.53 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 [14]

Agriculture accounted for about 53% of GDP in 1947. While per-capita agricultural output has grown since then, it has been outpaced by the growth of the non-agricultural sectors, and the share of agriculture has dropped to roughly one-fifth of Pakistan's economy.


In recent years, the country has seen rapid growth in industries (such as apparel, textiles, and cement) and services (such as telecommunications, transportation, advertising, and finance). Girls wearing formal attire for dancing, an example of one of the many modern forms of clothing. ... For other uses, see Textile (disambiguation). ... In the most general sense of the word, cement is a binder, a substance which sets and hardens independently, and can bind other materials together. ... Telecommunication involves the transmission of signals over a distance for the purpose of communication. ... “Advert” redirects here. ... Financial services is a term used to refer to the services provided by the finance industry. ...




Structure of production
Share of Various Sectors in GDP
Sector 2000-01 2001-02 2002-03 2003-04 2004-05
Goods (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. Energy Distribution 3.4 3.0 2.5 2.9 2.7
Services (6+7+8+9+10+11) 51.8 52.7 52.9 52.6 52.4
  6. Transportation & 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 Admin. & 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. Figures are in percentage.
Source: Economic Survey of Pakistan 2005 [15]

Commodity producing sector

Agriculture

Pakistan is one of the world's largest producers and suppliers of the following according to the 2005 Food and Agriculture Organization of The United Nations and FAOSTAT given here with ranking: The Food and Agriculture Organization of the United Nations (FAO) is a specialized agency of the United Nations that leads international efforts to defeat hunger. ... The FAO Corporate Statistical Database is an on-line multilingual (Arabic, Chinese, English, French, Spanish, Russian) database currently containing over 3 million time-series records from over 210 countries and territories covering statistics on agriculture, nutrition, fisheries, forestry, food aid, land use and population. ...

Pakistan ranks fifth in the Muslim world and twentieth worldwide in farm output. It is the world's fifth largest milk producer. Binomial name Cicer arietinum L. Percentages are relative to US recommendations for adults. ... Binomial name Prunus armeniaca L. For other uses, see Apricot (disambiguation). ... For other uses, see Cotton (disambiguation). ... Species Saccharum arundinaceum Saccharum bengalense Saccharum edule Saccharum officinarum Saccharum procerum Saccharum ravennae Saccharum robustum Saccharum sinense Saccharum spontaneum Sugarcane or Sugar cane (Saccharum) is a genus of 6 to 37 species (depending on taxonomic interpretation) of tall perennial grasses (family Poaceae, tribe Andropogoneae), native to warm temperate to tropical... A glass of cows milk. ... For other uses, see Onion (disambiguation). ... Binomial name Phoenix dactylifera L. The Date Palm (Phoenix dactylifera) is a palm extensively cultivated for its edible fruit. ... Species About 35 species, including: Mangifera altissima Mangifera applanata Mangifera caesia Mangifera camptosperma Mangifera casturi Mangifera decandra Mangifera foetida Mangifera gedebe Mangifera griffithii Mangifera indica Mangifera kemanga Mangifera laurina Mangifera longipes Mangifera macrocarpa Mangifera mekongensis Mangifera odorata Mangifera pajang Mangifera pentandra Mangifera persiciformis Mangifera quadrifida Mangifera siamensis Mangifera similis Mangifera... Binomial name Citrus reticulata Blanco For other uses of this term, see Tangerine (disambiguation). ... Binomial name The Mandarin orange or mandarin (瓯柑) is a small citrus tree (Citrus reticulata) with fruit resembling the orange. ... For other uses, see Rice (disambiguation). ... Species T. aestivum T. boeoticum T. dicoccoides T. dicoccon T. durum T. monococcum T. spelta T. sphaerococcum T. timopheevii References:   ITIS 42236 2002-09-22 Wheat Wheat For the indie rock group, see Wheat (band). ... Orange blossoms and oranges on tree For other uses of orange, see orange (disambiguation) The Orange Citrus x sinensis is a Citrus tree, and the fruits of this tree. ... Map of countries by agricultural output Map of countries by industrial output Map of countries by services output This is a list of countries by GDP sector composition based on nominal GDP estimates and sector composition ratios provided by the CIA World Fact Book at market or government official exchange... Nations with a Muslim majority appear in green, while nations that are approximately 50% Muslim appear yellow. ...


Pakistan's principal natural resources are arable land and water. About 25% of Pakistan's total land area is under cultivation and is watered by one of the largest irrigation systems in the world. Pakistan irrigates three times more acres than Russia. Agriculture accounts for about 23% of GDP and employs about 44% of the labor force. To meet Wikipedias quality standards, this article or section may require cleanup. ... Irrigation is the artificial application of water to the soil usually for assisting in growing crops. ...


Crops

The most important crops are wheat, sugarcane, cotton, and rice, which together account for more than 75% of the value of total crop output. Species T. aestivum T. boeoticum T. dicoccoides T. dicoccon T. durum T. monococcum T. spelta T. sphaerococcum T. timopheevii References:   ITIS 42236 2002-09-22 Wheat Wheat For the indie rock group, see Wheat (band). ... Species Saccharum arundinaceum Saccharum bengalense Saccharum edule Saccharum officinarum Saccharum procerum Saccharum ravennae Saccharum robustum Saccharum sinense Saccharum spontaneum Sugarcane or Sugar cane (Saccharum) is a genus of 6 to 37 species (depending on taxonomic interpretation) of tall perennial grasses (family Poaceae, tribe Andropogoneae), native to warm temperate to tropical... For other uses, see Cotton (disambiguation). ... For other uses, see Rice (disambiguation). ...


Pakistan's largest food crop is wheat. In 2005, Pakistan produced 21,591,400 metric tons of wheat, more than all of Africa (20,304,585 metric tons) and nearly as much as all of South America (24,557,784 metric tons), according to the FAO[22] The Food and Agriculture Organization of the United Nations (FAO) is a specialized agency of the United Nations that leads international efforts to defeat hunger. ...


Pakistan has also cut the use of dangerous pesticides dramatically. [16]


Pakistan is a net food exporter, except in occasional years when its harvest is adversely affected by droughts. Pakistan exports rice, cotton, fish, fruits, and vegetables and imports vegetable oil, wheat, cotton, pulses and consumer foods. The country is Asia's largest camel market, second-largest apricot and ghee market and third-largest cotton, onion and milk market. For other uses, see Camel (disambiguation). ... Binomial name Prunus armeniaca L. For other uses, see Apricot (disambiguation). ... Ghee in a jar Wikibooks Cookbook has an article on Ghee Ghee (Hindi घी from Sanskrit ghṛta घृत sprinkled ) is a type of clarified butter important in Indian cuisine. ... For other uses, see Cotton (disambiguation). ... For other uses, see Onion (disambiguation). ... A glass of cows milk. ...


The economic importance of agriculture has declined since independence, when its share of GDP was around 53%. Following the poor harvest of 1993, the government introduced agriculture assistance policies, including increased support prices for many agricultural commodities and expanded availability of agricultural credit. From 1993 to 1997, real growth in the agricultural sector averaged 5.7% but has since declined to about 4%. Agricultural reforms, including increased wheat and oilseed production, play a central role in the government's economic reform package.


Much of the Pakistan's agriculture output is utilized by the country's growing processed-food industry. The value of processed retail food sales has grown 12 percent annually during the Nineties and was estimated at over $1 billion in 2000, although supermarkets accounted for just over 10% of the outlets. [17]


The Federal Bureau of Statistics provisionally valued major crop yields at Rs.504,868 million in 2005 thus registering over 55% growth since 2000[18] while minor crop yields were valued at Rs.184,707 million in 2005 thus registering over 41% growth since 2000. Federal Bureau of Statistics (FBS) is an attached department of Statistics Division of Ministry of Economic Affairs and Statistics. ...


Livestock

According to the Economic Survey of Pakistan,[23] the livestock sector contributes about half of the value added in the agriculture sector, amounting to nearly 11 per cent of Pakistan's GDP, which is more than the crop sector.


The leading daily newspaper Jang reports that the national herd consists of 24.2 million cattle, 26.3 million buffaloes, 24.9 million sheep, 56.7 million goats and 0.8 million camels. In addition to these there is a vibrant poultry sector in the country with more than 530 million birds produced annually. These animals produce 29.472 million tons of milk (making Pakistan the 5th largest producer of milk in the world), 1.115 million tons of beef, 0.740 million tons of mutton, 0.416 million tons of poultry meat, 8.528 billion eggs, 40.2 thousand tons of wool, 21.5 thousand tons of hair and 51.2 million skins and hides.[24] Jang Group of Newspapers (colloquially known as simply Jang Group) is Pakistan’s largest group of newspapers and the publisher of the Urdu newspaper the Daily Jang (جنگ), The News International, Mag Weekly, Awam. ...


The Food and Agriculture Organization reported in June 2006 that in Pakistan, the world's fifth largest milk producing country, government initiatives are being undertaken to modernize milk collection and to improve milk and milk product storage capacity.[25] The Food and Agriculture Organization of the United Nations (FAO) is a specialized agency of the United Nations that leads international efforts to defeat hunger. ...


The Federal Bureau of Statistics provisionally valued this sector at Rs.758,470 million in 2005 thus registering over 70% growth since 2000.[26] Federal Bureau of Statistics (FBS) is an attached department of Statistics Division of Ministry of Economic Affairs and Statistics. ...


Fishery

Fishery plays an important role in the national economy. It provides employment to about 400,000 fishermen directly. In addition, another 500,000 people are employed in ancillary industries. It is also a major source of export earning. In July-May 2002-03 fish and fishery products valued at US $ 117 million were exported from Pakistan. Federal Government is responsible for fishery of Exclusive Economic Zone of Pakistan. A fishery (plural: fisheries) is an organized effort by humans to catch fish or other aquatic species, an activity known as fishing. ...


The major fish harbours of Pakistan are:

The Federal Bureau of Statistics provisionally valued this sector at Rs.18,290 million in 2005 thus registering over 10% growth since 2000.[19] Karachi Fisheries Harbour is located in Karachi, Sindh, Pakistan. ... Karachi Fish Harbour is located in Karachi, Sindh, Pakistan. ... Korangi Harbour is located in Karachi, Sindh, Pakistan. ... Pasni Fish Harbour is located in Pasni, Balochistan, Pakistan. ... Gwadar Fish Harbour is located in Gwadar, Balochistan, Pakistan. ... Federal Bureau of Statistics (FBS) is an attached department of Statistics Division of Ministry of Economic Affairs and Statistics. ...


Forestry

The Federal Bureau of Statistics provisionally valued this sector at Rs.25,637 million in 2005 thus registering over 3% decline since 2000.[20] Federal Bureau of Statistics (FBS) is an attached department of Statistics Division of Ministry of Economic Affairs and Statistics. ...


Industry

Pakistan ranks forty-first in the world and fifty-fifth worldwide in factory output. Map of countries by agricultural output Map of countries by industrial output Map of countries by services output This is a list of countries by GDP sector composition based on nominal GDP estimates and sector composition ratios provided by the CIA World Fact Book at market or government official exchange...


Pakistan's industrial sector accounts for about 24% of GDP. Cotton textile production and apparel manufacturing are Pakistan's largest industries, accounting for about 66% of the merchandise exports and almost 40% of the employed labour force. [21] Other major industries include cement, fertilizer, edible oil, sugar, steel, tobacco, chemicals, machinery, and food processing.


The government is privatizing large-scale parastatal units, and the public sector accounts for a shrinking proportion of industrial output, while growth in overall industrial output (including the private sector) has accelerated. Government policies aim to diversify the country's industrial base and bolster export industries. This article does not adequately cite its references or sources. ...

Pakistan's 2 leading companies, as per Forbes Global 2000 ranking for 2005.
Global
ranking
Company Name
1,284 Oil & Gas Development
1,316 PTCL
Forbes Global 2000[27]

The Forbes Global 2000 - is an annual ranking of the top 2000 corporations in the world by Forbes magazine. ... Oil and Gas Development Company (OGDC) is a state corporation of Pakistan. ... PTCL may be: PTCL Telephone Directory Pakistan Telecommunication Company, Pakistan Physical and Theoretical Chemistry Laboratory, University of Oxford, England Category: ...

Mining and quarrying

Important minerals found in Pakistan are gypsum, limestone, chromites, iron ore, rock salt, silver, gold, precious stones, gems, marble, copper, coal, graphite, sulphur, fire clay, silica. The salt range in Punjab Province has large deposits of pure salt. Balochistan province is a mineral rich area having substantial mineral, oil and gas reserves which have not been exploited to their full capacity. The province has significant quantities of copper, chromite and iron, and pockets of antimony and zinc in the south and gold in the far west. Natural gas was discovered near Sui in 1952, and the province has been gradually developing its oil and gas projects over the past fifty years.[28] It has been suggested that Selenite be merged into this article or section. ... For other uses, see Limestone (disambiguation). ... Chromite, iron magnesium chromium oxide: (Fe,Mg)Cr2O4, is an oxide mineral belonging to the spinel group. ... This heap of iron ore pellets will be used in steel production. ... This article is about the chemical element. ... GOLD refers to one of the following: GOLD (IEEE) is an IEEE program designed to garner more student members at the university level (Graduates of the Last Decade). ... For other uses, see Gemstone (disambiguation). ... For other uses, see Copper (disambiguation). ... Coal Coal (IPA: ) is a fossil fuel formed in swamp ecosystems where plant remains were saved by water and mud from oxidization and biodegradation. ... For other uses, see Graphite (disambiguation). ... For the chemical element see: sulfur. ... The chemical compound silicon dioxide, also known as silica, is the oxide of silicon, chemical formula SiO2. ... Balochistan, or Ballsforchinstan, Balochi, Pashto, Urdu: بلوچستان) is a province in Pakistan, the largest in the country by geographical area. ...


Major reserves of copper and gold in Balochistan's Rekodiq area have been discovered in early 2006. The Rekodiq mining area has proven estimated reserves of 2 billion tons of copper and 20 million ounces of gold. According to the current market price, the value of the deposits has been estimated at about $65 billion, which would generate thousands of jobs.


The discovery has ranked Rekodiq among the world's top seven copper reserves. The Rekodiq project is estimated to produce 200,000 tons of copper and 400,000 ounces of gold per year, at an estimated value of $1.25 billion at current market prices. The copper and gold are currently traded at about $5,000 per ton and $600 per ounce respectively in the international market. [22]


North West Frontier Province accounts for at least 78% of the marble production in Pakistan. [23] North-West Frontier Province (NWFP) is geographically the smallest of the four provinces of Pakistan. ...


The Federal Bureau of Statistics provisionally valued this sector at Rs.211,851 million in 2005 thus registering over 99% growth since 2000.[24] Federal Bureau of Statistics (FBS) is an attached department of Statistics Division of Ministry of Economic Affairs and Statistics. ...


Manufacturing

In FY 2002-03, real growth in manufacturing was 7.7%. In the twelve months ending 30 June 2004, large-scale manufacturing grew by more than 18% compared to the previous twelve-month period. The textile and garment industry's share in the economy along with its contribution to exports, employment, foreign-exchange earnings, investment and value added make it Pakistan’s single largest manufacturing sector. The industry is comprised of 453 textile mills: 50 integrated units; and 403 spinning units, with 9.33 million spindles and 148,000 rotors, The capacity utilization was 83% for spindles and 47% for rotors during 2003. [25] is the 181st day of the year (182nd in leap years) in the Gregorian calendar. ... Year 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ...


The Federal Bureau of Statistics provisionally valued large-scale manufacturing at Rs.981,518 million in 2005 thus registering over 138% growth since 2000[26] while small-scale manufacturing was valued at Rs.356,835 million in 2005 thus registering over 80% growth since 2000. Federal Bureau of Statistics (FBS) is an attached department of Statistics Division of Ministry of Economic Affairs and Statistics. ...


Construction

After the devastating 2005 Kashmir earthquake Pakistan has instituted stricter building codes. The cost of construction in Pakistan will increase 30 to 50% due to implementation of a new building code which requires strengthening of structures to withstand earthquake of 8 to 8.5 magnitude. The demand for cement has increased due to reconstruction after the earthquake. The prices of cement has increased by 50% and Pakistan government banned export of cement to lower the prices and the reconstruction costs. The Kashmir earthquake (also known as the South Asia earthquake or the Great Pakistan earthquake) of 2005, was a major earthquake, of which the epicentre was the Pakistan-administered Kashmir. ... In the most general sense of the word, cement is a binder, a substance which sets and hardens independently, and can bind other materials together. ...


Dubai Ports World, announced on June 1, 2006 that it will spend $10 billion to develop transport infrastructure and real estate in Pakistan.[29] Dubai Ports World is also discussing the possibility of the company taking over operational management of Gwadar port in Balochistan.[30] DP World is a company owned by the government of Dubai in the United Arab Emirates. ... Gwadar is located on the southwestern coast of Pakistan, close to the Strait of Hormuz in the Persian Gulf. ... Balochistan, or Ballsforchinstan, Balochi, Pashto, Urdu: بلوچستان) is a province in Pakistan, the largest in the country by geographical area. ...


Emaar Properties, announced on May 31, 2006 three real estate developments in the cities of Islamabad and Karachi in Pakistan. The projects, with a total investment of $2.4 billion, will include a series of master planned communities that will set new benchmarks in commercial, residential and retail property within Pakistan.[31] Emaar Properties (Arabic: إعمار), the Dubai-based Public Joint Stock Company and one of the world’s largest real estate companies, is listed on the Dubai Financial Market and is part of the Dow Jones Arabia Titans Index. ...   (Urdu: اسلام آباد) is the capital city of Pakistan, and is located in the Potohar Plateau in the northwest of the country. ...   (Urdu: , Sindhi: ) is the largest city in Pakistan and is the provincial capital of Sindh province. ...


In addition the conglomerate signed a unprecedented $43 billion deal to develop two island resorts - Bundal Island and Buddo Island - over the next decade. [27] Bundal Island (Urdu: جزیرہ بندل ) is a small island located in the Arabian Sea off the coast of Karachi, Sindh, Pakistan. ... Buddo Island (Urdu: جزیرہ بدو ) is a small islands located in the Arabian Sea off the coast of Karachi, Sindh, Pakistan. ...


The Federal Bureau of Statistics provisionally valued this sector at Rs.178,819 million in 2005 thus registering over 88% growth since 2000.[28] Federal Bureau of Statistics (FBS) is an attached department of Statistics Division of Ministry of Economic Affairs and Statistics. ...


Electricity, gas and water supply

Pakistan has extensive energy resources, including fairly sizable natural gas reserves, some proven oil reserves, coal (Pakistan has the fourth-largest coal reserves in the world[32]), and a large hydropower potential. However, the exploitation of energy resources has been slow due to a shortage of capital and domestic political constraints. Domestic petroleum production totals only about half the country's oil needs, and the need to import oil has contributed to Pakistan's trade deficits and past shortages of foreign exchange. For other uses, see Natural gas (disambiguation). ... Coal Coal (IPA: ) is a fossil fuel formed in swamp ecosystems where plant remains were saved by water and mud from oxidization and biodegradation. ... Hydroelectricity is electricity produced by hydropower. ...


The current government has announced that privatization in the oil and gas sector is a priority, as is the substitution of indigenous gas for imported oil, especially in the production of power. Pakistan is a world leader in the use of compressed natural gas (CNG) for personal automobiles. Typical North America vehicles carry this diamond shape symbol, meaning it is running on compressed natural gas fuel. ...


The short-term national energy demand has expanded significantly since 2001 due to massive rise in sales of durable goods like refrigerators, washing machines, split air conditioners, et al. [29]


In 2004, Access Group International announced plans to invest $1 billion over the next 5 years in solar cell manufacture and wind farms. MOUs have been signed with Alternate Energy Development Board. [30] In early 2005, the government approved a 25-year Energy Security Plan to boost electric capacity eightfold. [31] A solar cell, made from a monocrystalline silicon wafer A solar cell or photovoltaic cell is a device that converts light energy into electrical energy. ... A wind farm is a collection of wind turbines in the same location. ...


The Canadian conglomerate Cathy Oil and Gas signed a memorandum of understanding in late 2006 to invest $5 billion in oil and gas exploration, development, production and commercialisation in Pakistan. [32] A memorandum of understanding (MOU) is a legal document describing a bilateral agreement between parties. ...


The World Bank estimates that it takes about 32 days only to get an electrical connection in Pakistan. [33]


The Federal Bureau of Statistics provisionally valued this sector at Rs.215,662 million in 2005 thus registering over 62% growth since 2000.[34] Federal Bureau of Statistics (FBS) is an attached department of Statistics Division of Ministry of Economic Affairs and Statistics. ...


Services sector

Pakistan's service sector accounts for about 53.3% of GDP[33]. Transport, storage, communications, finance, and insurance account for 24% of this sector, and wholesale and retail trade about 30%. Pakistan is trying to promote the information industry and other modern service industries through incentives such as long-term tax holidays. This article is about a term used in economics. ... Old warehouses in Amsterdam Inside Green Logistics Co. ... Copy of the original phone of Alexander Graham Bell at the Musée des Arts et Métiers in Paris Telecommunication is the transmission of signals over a distance for the purpose of communication. ... Financial services is a term used to refer to the services provided by the finance industry. ... Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. ... Wholesaling consists of the sale of goods/merchandise to retailers, to industrial, commercial, institutional, or other professional business users or to other wholesalers and related subordinated services. ... A drawing of a self-service store Retailing consists of the sale of goods/merchandise for personal or household consumption either from a fixed location such as a department store or kiosk, or away from a fixed location and related subordinated services (Definition of the WTO (last page). ... Information industry or information industries is a loosely defined term for industries that are information intensive in one way or the other. ... This box:  • • The Quaternary sector of industry is the sector of industry that involves the intellectual services. ... Tax competition is a governmental strategy of attracting foreign direct investment and high value human resources by minimizing the overall taxation level. ...


The government is acutely conscious of the immense job growth opportunities in service sector and has launched aggressive privatisation of telecommunications, utilities and banking despite union unrest.


Transport, storage and communication

Pakistan Telecommunication Company Ltd has emerged as a successful Forbes 2000 conglomerate with over $1 billion in sales in 2005. Cellphone market has exploded twelvefold since 2000 to reach a subscriber base of over 50 million in 2007. In addition, there are over 6 million landlines in the country. [35]. As a result, Pakistan won the prestigious Government Leadership award of GSM Association in 2006. [36] Pakistan Telecommunication Company Limited (PTCL) is the largest telecommunication company in Pakistan. ... Wikipedia does not yet have an article with this exact name. ... The GSM Association (GSMA) is the global trade association representing 700 GSM mobile phone operators across 215 countries of the world. ...


The World Bank estimates that it takes about 25 days only to get a phone connection in Pakistan.[34]


In Pakistan, following are the top mobile phone operators:

  1. Mobilink
  2. Ufone
  3. Telenor
  4. Warid
  5. Instaphone
  6. Paktel ( recently been acquired by China Mobile for US$ 450 million)

The cellular base in Pakistan is growing at around 14% per year and already the cellular customer has outpassed the fixed line customers. Wireless revolution has swept Pakistan, and the comepetition among the mobile operators are pulling the prices down. Its as cheap as Rs.2 to call to USA per minutes ( that is 3-4 cents per minutes). Sony ericsson, Nokia and Motorola along with Samsung and LG remains to be the popular brands among customers. Though Nokia has a strong market presence, which has been somewhat taken over by sony ericsson, through aggressive marketing and advertisement. Pakistan Mobile Communications Limited, better known as Mobilink GSM, is a telecommunication service provider in Pakistan. ... Ufone GSM is a Pakistani GSM cellular service provider, Its one of six GSM Mobile companies in Pakistan, and is a subsidiary of Pakistan Telecommunication Company. ... Telenor (OSE: TEL, NASDAQ: TELN) is the incumbent telecommunications company in Norway, with headquarters located at Fornebu, close to Oslo. ... Warid Telecom is an Abu Dhabi based mobile telecommunication firm backed by The Abu Dhabi group, currently providing GSM cellular services in Pakistan and Bangladesh with headquarters located at Lahore Pakistan. ... Instaphone is a telecommunication company in Pakistan. ... Paktel is a mobile telecommunication company in Pakistan. ... This article is about the telecommunications corporation. ... For an arrangement of Sony Ericsson products, see list of Sony Ericsson products Sony Ericsson is a joint venture established in 2001 by the Japanese consumer electronics company Sony Corporation and the Swedish telecommunications company Ericsson to make mobile phones. ...


Pakistan is on the verge of Telecom revolution and it is by far the most attracted sector in Pakistan in terms of Foreign Direct investment coming in Pakistan. It s estimated alone that this year 2006-07, FDI attracted by Telecom will be US$ 2 Billion out of the total FDI of US$ 6 Billion, the highest in Pakistan history.


Pakistan International Airlines, the flagship airline of Pakistan's civil aviation industry, has turnover exceeding $1 billion in 2005. [37] The government announced a new shipping policy in 2006 permitting banks and financial institutions to mortgage ships. [38] A massive rehabilitation plan worth $1 billion over 5 years for Pakistan Railways has been announced by the government in 2005. [39] Pakistan International Airlines Corporation, more commonly known as Pakistan International Airlines or PIA (Urdu: پی آئی اے يا پاکستان انٹرنیشنل ایرلاینز), is the national flag carrier airline of Pakistan, based in Karachi. ... Civil airliner - Air India Boeing 747-400 Civil aviation is one of two major categories of flying, representing all non-Military aviation, both private and commercial. ... Pakistan Railways is the state-owned railway company of Pakistan. ...


Private sector airlines in Pakistan includes Airblue, Aeroasia and Shaheen Air International. Many private airlines are in pipleline which includes Air Mahreq, Dewan Air and Pearl Air.


Airblue is using the state of the art A-320 and A-321 aircraft for flying across Pakistan and will soon commence UK operation. Airblue has recently ordered 6 New A-321 aircraft, while 2 aircraft will be taken on lease which will be added to the existing fleet of 4-5 aircraft, making it the second biggest fleet behind PIA which has 42 aircraft.


The Government of Pakistan has, over the last few years, granted numerous incentives to technology companies wishing to do business in Pakistan. A combination of decade-plus tax holidays, zero duties on computer imports, government incentives for venture capital and a variety of programs for subsidizing technical education, are intended to give impetus to the nascent Information Technology industry. This in recent years has resulted in impressive growth in that sector. Pakistan saw an increase in IT export cash inflows of 50% from 2003-4 to 2004-5, with total export cash inflows standing at $48.5 million. In 2005-6 export cash inflows increased to greater than $73 million. This year the government has set a goal of $108 million. Exports account for 11% of the total revenues of the IT sector in Pakistan. Compared to India, Pakistan's IT sector is relatively small, but recent growth has been extremely high leading economists to be optimistic about the IT industries future prospects in Pakistan. Government of Pakistan (Urdu: حکومتِ پاکستان)The Constitution of Pakistan provides for a Federal Parliamentary System of government, with a President as the Head of State and an indirectly-elected Prime Minister as the chief executive. ... A tax holiday is a temporary reduction or elimination of a tax. ... This article does not cite any references or sources. ... Venture capital is a general term to describe financing for startup and early stage businesses as well as businesses in turn around situations. ... Information and communication technology spending in 2005 Information technology (IT), as defined by the Information Technology Association of America (ITAA), is the study, design, development, implementation, support or management of computer-based information systems, particularly software applications and computer hardware. ...


Paging and mobile (cellular) telephone were adopted early and freely. Cellular phones and the Internet were adopted through a rather laissez-faire policy with a proliferation of private service providers that led to fast adoption. Both have taken off and in the last few years of the 1990s and first few years of the 2000s. With a rapid increase in the number of internet users and ISPs, and a large English-speaking population, Pakistani society has seen major changes. It has been suggested that this article or section be merged with pager. ... Cellular redirects here. ... Laissez-faire is short for laissez faire, laissez passer, a French phrase meaning to let things alone, let them pass. First used by the eighteenth century Physiocrats as an injunction against government interference with trade, it is now used as a synonym for strict free market economics. ... “ISP” redirects here. ...

  • Pakistan has more than 20 million internet users as of 2005. The country is said to have a potential to absorb up to 50 million mobile phone Internet users in the next 5 years thus a potential of nearly 1 million connections per month.
  • Almost all of the main government departments, organizations and institutions have their own websites.
  • The use of search engines and instant messaging services is also booming. Pakistanis are some of the most ardent chatters on the Internet, communicating with users all over the world. Recent years have seen a huge increase in the use of online marriage services, for example, leading to a major re-alignment of the tradition of arranged marriages.
  • As of 2005 there were 6 cell phone companies operating in the country with nearly 28 million mobile phone users in the country.
  • Wireless local loop and the landline telephony sector has also been liberalized and private sector has entered thus increasing the teledensity rate from less than 3% to more than 10% in span of two years.

The Federal Bureau of Statistics provisionally valued this sector at Rs.982,353 million in 2005 thus registering over 91% growth since 2000.[40] This article is about search engines. ... Instant messaging (IM) is a form of real-time communication between two or more people based on typed text. ... Toasting, chatting, or DJing is the act of talking or chanting over a rhythm or beat. ... Marriage à-la-mode by William Hogarth: a satire on arranged marriages and prediction of ensuing disaster An arranged marriage is a marriage that is established before involving oneself in a lengthy courtship, and often involves the arrangement of someone other than the persons getting married. ... Wireless local loop (WLL), also called Broadband Wireless Access (BWA) radio in the loop (RITL) or fixed-radio access (FRA) or fixed-wireless access (FWA) or Fixed Wireless Terminal (FWT), is the use of a wireless communications link as the last mile / first mile connection for delivering plain old telephone... A landline or main line is a telephone line which travels through a solid medium, either metal wire or optical fibre. ... Federal Bureau of Statistics (FBS) is an attached department of Statistics Division of Ministry of Economic Affairs and Statistics. ...


Wholesale and retail trade

The Federal Bureau of Statistics provisionally valued this sector at Rs.1,358,309 million in 2005 thus registering over 96% growth since 2000.[41] Federal Bureau of Statistics (FBS) is an attached department of Statistics Division of Ministry of Economic Affairs and Statistics. ...


Finance and insurance

A reduction in the fiscal deficit has resulted in less government borrowing in the domestic money market, lower interest rates, and an expansion in private sector lending to businesses and consumers. Foreign exchange reserves continued to reach new levels in 2003, supported by robust export growth and steady worker remittances. Fiscal municipality in Huesca, Spain The term fiscal refers to government debt, expenditures and revenues, or to finance (particularly financial revenue) in general. ... A budget deficit occurs when an entity (often a government) spends more money than it takes in. ... This article is about short-term financing. ... An interest rate is the rental price of money. ... The private sector of a nations economy consists of all that is outside the state. ...


Credit card market continued its strong growth with sales crossing the 1 million mark in mid-2005. [42]

See also: List of Banks in Pakistan

Since 2000 Pakistani banks have begun aggressive marketing of consumer finance to the emerging middle class, allowing for a consumption boom (more than a 7-month waiting list for certain car models) as well as a construction bonanza. The following is the list of banks in Pakistan. ...


The Federal Bureau of Statistics provisionally valued this sector at Rs.311,741 million in 2005 thus registering over 166% growth since 2000.[43] Federal Bureau of Statistics (FBS) is an attached department of Statistics Division of Ministry of Economic Affairs and Statistics. ...


Ownership of dwellings

The property sector has expanded twenty-threefold since 2001, particularly in metropolises like Lahore. [44] Nevertheless, the Karachi Chamber of Commerce and Industry estimated in late 2006 that the overall production of housing units in Pakistan has to be increased to 0.5 million units annually to address 6.1 million backlog of housing in Pakistan for meeting the housing shortfall in next 20 years. The report noted that the present housing stock is also rapidly ageing and an estimate suggests that more than 50 percent stock is over 50 years old. It is also estimated that 50 percent of the urban population now lives in slums and squatter settlements. The report said that meeting the backlog in housing, besides replacement of out-lived housing unit is beyond the financial resources of the government. This necessitates putting in place of framework to facilitate financing in the formal private sector and mobilise non-government resources for a market-based housing finance system. [45]


The Federal Bureau of Statistics provisionally valued this sector at Rs.185,376 million in 2005 thus registering over 49% growth since 2000.[46] Federal Bureau of Statistics (FBS) is an attached department of Statistics Division of Ministry of Economic Affairs and Statistics. ...


Public administration and defence

The Federal Bureau of Statistics provisionally valued this sector at Rs.389,545 million in 2005 thus registering over 65% growth since 2000.[47] Federal Bureau of Statistics (FBS) is an attached department of Statistics Division of Ministry of Economic Affairs and Statistics. ...


Social, community and personal services

The Federal Bureau of Statistics provisionally valued this sector at Rs.631,229 million in 2005 thus registering over 78% growth since 2000.[48] Federal Bureau of Statistics (FBS) is an attached department of Statistics Division of Ministry of Economic Affairs and Statistics. ...


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 provides long term loans to Pakistan. Pakistan also receives bilateral aid from developed and oil-rich countries. “IMF” redirects here. ... The World Bank (the Bank), a part of the World Bank Group (WBG), was formally established on December 27, 1945, following the ratification of the Bretton Woods agreement. ... The Asian Development Bank (ADB) is a regional development bank established in 1966 to promote economic and social development in Asian and Pacific countries through loans and technical assistance. ...


The Asian Development Bank will provide close to $6 billion development assistance to Pakistan during 2006-9.[49] The World Bank unveiled a lending program of up to $6.5 billion for Pakistan under a new four-year, 2006-2009, aid strategy showing a significant increase in funding aimed largely at beefing up the country's infrastructure.[35] Japan will provide $500 million annual economic aid to Pakistan.[36] The Asian Development Bank (ADB) is a regional development bank established in 1966 to promote economic and social development in Asian and Pacific countries through loans and technical assistance. ... The World Bank (the Bank), a part of the World Bank Group (WBG), was formally established on December 27, 1945, following the ratification of the Bretton Woods agreement. ...


Remittance

The remittance of Pakistanis living abroad has played important role in Pakistan's economy and foreign exchange reserves. The Pakistanis settled in Western Europe and North America are important sources of remittance to Pakistan. Since 1973 the Pakistani workers in the oil rich Arab states have been sources of billions dollars of remittance.


Pakistan received $5.493 billion as workers’ remittances during the last fiscal year 2006-07 up by 19.42 Percent against over $4.6 billion in 2005-06. [37]


An IMF research paper has revealed that workers’ remittances contribute 4% to the GDP of Pakistan and are equivalent to about 22 percent of annual exports of goods and services.[38]


Investment

Foreign direct investment (FDI) in Pakistan soared by 180.6 per cent year-on-year to US$2.22 billion and portfolio investment by 276 per cent to $407.4 million during the first nine months of fiscal year 2006, the State Bank of Pakistan (SBP) reported on April 24. During July-March 2005-06, FDI year-on-year increased to $2.224 billion from only $792.6 million and portfolio investment to $407.4 million, whereas it was $108.1 million in the corresponding period last year, according to the latest statistics released by the State Bank.[39] Pakistan is on course to achieve FDI of $7 billion in the financial year 06/07, surpassing the government target of $4 billion.[40][41] The State Bank of Pakistan (SBP) is the central bank of Pakistan. ...


Pakistan is now the most investment-friendly nation in South Asia. Business regulations have been profoundly overhauled along liberal lines, especially since 1999. Most barriers to the flow of capital and international direct investment have been removed. Foreign investors do not face any restrictions on the inflow of capital, and investment of up to 100% of equity participation is allowed in most sectors (local partners must be brought in within 5 years and contribute up to 40% of the equity in the services and agriculture sectors). Unlimited remittance of profits, dividends, service fees or capital is now the rule. Business regulations are now among the most liberal in the region. This was confirmed by a World Bank report published in late 2006 ranking Pakistan (at 74th) well ahead of neighbours like China (at 93rd) and India (at 134th) based on ease of doing business. [50]


Tariffs have been reduced to an average rate of 16%, with a maximum of 25% (except for the car industry). The privatisation process, which started in the early 1990s, has gained momentum, with most of the banking system privately owned, and the oil sector targeted to be the next big privatisation operation.


The recent improvements in the economy and the business environment have been recognised by international rating agencies such as Moody’s and Standard and Poor’s (country risk upgrade at the end of 2003).


Foreign trade

Pakistani exports in 2005
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. Image File history File links Size of this preview: 800 × 351 pixelsFull resolution (1425 × 625 pixel, file size: 60 KB, MIME type: image/png)This bubble map shows the global distribution of Pakistani exports in 2005 as a percentage of the top market (USA - $4,192,725,000). ... Image File history File links Size of this preview: 800 × 351 pixelsFull resolution (1425 × 625 pixel, file size: 60 KB, MIME type: image/png)This bubble map shows the global distribution of Pakistani exports in 2005 as a percentage of the top market (USA - $4,192,725,000). ... “WTO” redirects here. ...


Fluctuating world demand for its exports, domestic political uncertainty, and the impact of occasional droughts on its agricultural production have all contributed to variability in Pakistan's trade deficit. In the six months to December 2003, Pakistan recorded a current account surplus of $1.761 billion, roughly 5% of GDP. Pakistan's exports continue to be dominated by cotton textiles and apparel, despite government diversification efforts. Exports grew by 19.1% in FY 2002-03. Major imports include petroleum and petroleum products, edible oil, chemicals, fertilizer, capital goods, industrial raw materials, and consumer products.


Past external imbalances left Pakistan with a large foreign debt burden. Principal and interest payments in FY 1998-99 totaled $2.6 billion, more than double the amount paid in FY 1989-90. Annual debt service peaked at over 34% of export earnings before declining.


With a current account surplus in recent years, Pakistan's hard currency reserves have grown rapidly. Improved fiscal management, greater transparency and other governance reforms have led to upgrades in Pakistan's credit rating. Together with lower global interest rates, these factors have enabled Pakistan to prepay, refinance and reschedule its debts to its advantage. Despite the country's current account surplus and increased exports 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 to be around 4% of GDP.


In the late 1990s Pakistan received about $2.5 billion per year in loan/grant assistance from international financial institutions (e.g., the IMF, the World Bank, and the Asian Development Bank) and bilateral donors.[42] Increasingly, the composition of assistance to Pakistan shifted away from grants toward loans repayable in foreign exchange. All new U.S. economic assistance to Pakistan was suspended after October 1990, and additional sanctions were imposed after Pakistan's May 1998 nuclear weapons tests. The sanctions were lifted by president George W. Bush after Pakistani president Musharraf allied Pakistan with the U.S in its war on terror. Having improved its finances, the government refused further IMF assistance, and consequently the IMF program was ended.[10] The government is also reducing tariff barriers with bilateral and multilateral agreements. The Asian Development Bank (ADB) is a regional development bank established in 1966 to promote economic and social development in Asian and Pacific countries through loans and technical assistance. ... General Pervez Musharraf (born August 11, 1943, Delhi, India) became de facto ruler (using the title Chief Executive and assuming extensive power) of [[the office of President of Pakistan (becoming Head of State) on June 20, 2001. ...


While the country has a current account surplus and both imports and exports have grown rapidly 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 be over 4% of GDP. Economists believe that the soaring trade deficit would have an adverse impact on Pakistani rupee by depreciating its value against dollar (1 US $ = 60 Rupees (March 2006) ) and other currencies.


One of the main reasons that contributed to the increase in trade deficit is the increased imports of earthquake relief related items, especially tents, tarpaulin and plastic sheets to provide temporary shelter to the survivors of earthquake of October 8, 2005 in Azad Jammu and Kashmir and parts of the NWFP, an official said. The rise in the trade gap was also fuelled by high oil import prices, food items, machinery and automobiles.


The Petroleum Ministry says that this year the bill of oil imports was expected to reach $6.5 billion against $4.6 billion in the last fiscal year, which is the main reason behind the all-time high trade deficit.


The EU is the single largest trading partner of Pakistan absorbing over one-third of the exports in 2003.


Exports

Pakistan's exports stood at $17.011 billion in the financial year 2006-2007, up by 3.4 percent from last year's exports of $16.451 billion. [43]


Pakistan exports rice, furniture, cotton fiber, cement, tiles, marble, textiles, clothing, leather goods, sports goods (renowned for footballs/soccer balls), surgical instruments, electrical appliances, software, carpets, and rugs, ice cream, livestock meat, chicken, powdered milk, wheat, seafood (especially shrimp/prawns), vegetables, processed food items, Pakistani assembled Suzukis (to Afghanistan and other countries), defense equipment (submarines, tanks, radars), salt, marble, onyx, engineering goods, and many other items. Pakistan now is being very well recognized for producing and exporting cements in Asia and Mid-East. Starting August 2007, Pakistan will be exporting Cement to India. [44] For other uses, see Rice (disambiguation). ... For the UK band, see Furniture (band). ... For other uses, see Cotton (disambiguation). ... Fiber or fibre[1] is a class o f materials that are continuous filaments or are in discrete elongated pieces, similar to lengths of thread. ... In the most general sense of the word, cement is a binder, a substance which sets and hardens independently, and can bind other materials together. ... Mission, or barrel, roof tiles A tile is a manufactured piece of hard-wearing material such as ceramic, stone, porcelain, metal or even glass. ... For other uses, see Marble (disambiguation). ... For other uses, see Textile (disambiguation). ... Clothing protects the vulnerable nude human body from the extremes of weather, other features of our environment, and for safety reasons. ... Modern leather-working tools Leather is a material created through the tanning of hides and skins of animals, primarily cattlehide. ... Surgeon excising an arrow from a wounded soldier, Stele from Herculaneum, Rome, 1 BC A surgical instrument is a specially designed tool or device for performing specific actions of carrying out desired effects during a surgery or operation, such as modifying biological tissue, or to provide access or viewing it. ... The word appliance has several different areas of meaning, all usually referring to a device with a narrow function: One class of objects includes items that are custom-fitted to an individual for the purpose of correction of a physical or dental problem, such as prosthetic, orthotic appliances and dental... Computer software (or simply software) refers to one or more computer programs and data held in the storage of a computer for some purpose. ... For other uses, see Carpet (disambiguation). ... Look up Rug in Wiktionary, the free dictionary. ... This article or section does not adequately cite its references or sources. ... Photo of powdered milk Powdered milk is a powder made from dried milk solids. ... Species T. aestivum T. boeoticum T. dicoccoides T. dicoccon T. durum T. monococcum T. spelta T. sphaerococcum T. timopheevii References:   ITIS 42236 2002-09-22 Wheat Wheat For the indie rock group, see Wheat (band). ... Spaghetti with seafood (Spaghetti allo scoglio). ... Vegetables on a market Vegetable is a nutritional and culinary term denoting any part of a plant that is commonly consumed by humans as food, but is not regarded as a culinary fruit, nut, herb, spice, or grain. ... Suzuki Motor Corporation ) is a Japanese multinational corporation company producing a range of automobiles (especially Keicars and small SUVs), a full range of motorcycles, ATVs, outboard motors, wheelchairs, and a variety of other small combustion-powered engine products. ... In military science, defense (or defence) is the art of preventing an enemy from conquering territory. ... Engineering is the applied science of acquiring and applying knowledge to design, analysis, and/or construction of works for practical purposes. ... In the most general sense of the word, cement is a binder, a substance which sets and hardens independently, and can bind other materials together. ...


Imports

Pakistan's imports stood at $30.54 billion in the financial year 2006-2007, up by 8.22 percent from last year's imports of $28.58 billion.


Pakistan's single largest import category is petroleum and petroleum products. Other imports include: industrial machinery, construction machinery, trucks, automobiles, computers, computer parts, medicines, pharmaceutical products, food items, civilian aircraft, defense equipment, iron, steel, toys, electronics, and other consumer items. Pumpjack pumping an oil well near Lubbock, Texas Ignacy Łukasiewicz - inventor of the refining of kerosene from crude oil. ...


Sales tax is levied at 15 percent both on imports and domestically produced products. The income withholding tax is levied at 6 percent on imports and at 3.5 percent on the sales of domestic taxpayers.[51] The principle of a withholding tax is that it is withheld (retained) by the payer and given directly to the taxation authorities. ...


[45]


Deficit in economy

Pakistan suffered a merchandise trade deficit of $13.528 billion for the financial year 2006-7. The gap has considerably widened since 2002-3 when the deficit was only $1.06 billion. [46] Services sector deficit for 2006-2007 stood at $4.125 billion which equals the services export of $4.125 billion for the same year. [47]


The combined deficit in services and goods stand at $17.653 billion which is approx 83.5 percent of country's total export of $21.136 (Goods and services). The rise in the trade gap has been attributed to high oil import bill, and rise in the prices of food items, machinery and automobiles.


Current account deficit- Current account deficit for 2006-7 reached $7.016 billion up by 41 percent over previous year's $4.490 billion.


Bonds

Pakistan is expected to sell a dual-tranche sovereign bond worth $750 million on March 23, 2006 that analysts said should ensure a favorable reception in the bond market. The 10-year tranche would be $500 million and the 30-year portion $250 million. Pricing is expected during New York trading hours on March 23, 2006. The sources said that the 10-year tranche was expected to be priced at around 7.125 percent, while the longer-dated tranche was expected to be sold at around 7.875 percent, the top end of the indicative yield range of 7.75 to 7.875 percent.


The bonds, comprising 10-year and 30-year tranches, had generated $1.5 billion in orders and a total size of as much as $1.25 billion had been anticipated for what is Pakistan’s third foray into the international debt market since 2004.[48]


Government of Pakistan has been raising money from the international debt market from time to time.


Details of amount raised in various issues is as follows:-


1999 - $623 million


2004 - $500 million @ 6.75 Percent [49]


2005 - $600 million worth Islamic bonds [50][51]


2007 - $ 750 million @ 6.875 Percent worth Euro Bonds which were highly over subscribed [52]


Foreign Acquisitions and Mergers

With the rapid growth in Pakistan's economy, foreign investors are taking a keen interest in the corporate sector of Pakistan. In the recent years, majority stakes in many corporations have been acquired by multinational groups.

  • PICIC by Singapore based Tamasek holdings for $339 million
  • Union Bank by Standard Chartered bank for $487 million
  • Prime commercial bank by ABN Amro for $228 million
  • PakTel ltd by China Mobile Ltd for $460 million
  • Additional 57.6 Percent shares of Lakson Tobacco company acquired by Philip Morris international for $382 million


The foreign exchange receipts from these sale outs are also helping covering the massive current account deficit. [52]


Fiscal budget

  • Fiscal year: 1 July - 30 June
  • Revenues: $19.8 billion
  • Expenditures: $25 billion (2006 est.)
  • Debt - external: $39.94 billion (2005 est.)
  • Economic aid - recipient: $2 billion (FY97/98)

is the 182nd day of the year (183rd in leap years) in the Gregorian calendar. ... is the 181st day of the year (182nd in leap years) in the Gregorian calendar. ...

Industrial sector

  • Industries: textiles (8.5% of the GDP), food processing, beverages, construction materials, clothing, paper products, shrimp
  • Industrial production growth rate: 10.7% (2005)
  • Large-scale manufacturing growth rate: 18% (2003)

The word drink is primarily a verb, meaning to ingest liquids, see Drinking. ... For other uses, see Paper (disambiguation). ... Superfamilies Alpheoidea Atyoidea Bresilioidea Campylonotoidea Crangonoidea Galatheacaridoidea Nematocarcinoidea Oplophoroidea Palaemonoidea Pandaloidea Pasiphaeoidea Procaridoidea Processoidea Psalidopodoidea Stylodactyloidea True shrimp are swimming, decapod crustaceans classified in the infraorder Caridea, found widely around the world in both fresh and salt water. ...

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)

Electricity

Electricity production

  • Electricity - production: 88.42 TWh (2005)
  • Electricity - production by source (2003)
    • fossil fuel: 63.7% of total
    • hydro: 33.9% of total
    • nuclear: 2.4% of total

Last week's reports of Pakistan's electricity producers seeking a parity in returns for both domestic and foreign investors is indicative of one of the key unresolved issues in overseeing a surge in electricity generation when the country faces growing shortages.


For years, the matter of balancing Pakistan's supply against the demand for electricity has remained a largely unresolved matter. Pakistan faces a significant challenge in revamping its network responsible for the supply of electricity.


While the government claims credit for overseeing a turnaround in the economy through a comprehensive recovery, it has just failed to oversee a similar improvement in the quality of the network for electricity supply.


Some officials even go as far as claiming that the frequent power cuts across Pakistan today are indicative of an emerging prosperity as there is fast rising demand for electricity. And yet, the failure to meet the demand is indeed indicative of a challenge to that very prosperity.


Growing demand

In the short run addressing difficult challenges such as the demand for a parity of treatment to both domestic and foreign investors must make some difference by way of attracting investors across the board. Given the growing demand for electricity, foreign investors must have a role in helping Pakistan meet this challenge.


But the challenges faced by Pakistan are by no means easy. It is indeed the case that the business of reforming the electricity supply network is just not about short term and often incomplete measures of the kind that Pakistanis have been accustomed to.


Even if Pakistan successfully set aside the vast funds which are necessary to finance such a turn-around, the time taken to ensure the supply of all the technical ingredients must in itself make the task formidably challenging.


Popular habits

In the environment which prevails across the world today, there is already a considerable line-up of both individuals and countries which have placed orders to buy new equipment. Indeed, Pakistani officials are all too aware of international market conditions which only add to the difficulty surrounding their task.


Though sorting out global market conditions are just not in reach of one country alone, other matters are indeed within Pakistan's grasp. These include the need to turn around popular habits which hardly help to curtail the usage of electricity, with wastages and deliberate inefficiencies being the principal factors. But the lead for such an endeavour must come in part from Pakistani leaders.


Electricity consumption

  • Electricity - consumption: 74.62 TWh (2004)
  • Electricity - exports: 0%
  • Electricity - imports: 0%
  • Electricity Consumption per Capita = 345.00 kWh/capita

See also

List of topics related to the Economy of Pakistan
Institutions: KSE, LSE, ISE, State Bank, National Bank, SECP, IPS, PIIA, PINA
Lists: Companies, Banks, Tallest buildings, Airlines
Related Topics: Business people, Transport, Airlines, Banks, Companies, Finance Ministers, Low cost housing, Economy of Karachi Ports & Harbours

The Karachi Stock Exchange (Guarantee) Limited (colloquially known as the Karachi Stock Exchange) is the largest stock exchange in Pakistan. ... This organization, company, or building article needs to be wikified. ... Islamabad Stock Exchange is the three largest stock exchange of Pakistan located in the capital, Islamabad. ... The State Bank of Pakistan (SBP) is the central bank of Pakistan. ... The National Bank of Pakistan has its headquarters in Karachi, Pakistan. ... It has been suggested that this article or section be merged with SECP. (Discuss) The Securities and Exchange Commission of Pakistan // History The Securities and Exchange Commission of Pakistan was created to succeed the Corporate Law Authority, which was an attached Department of Ministry of Finance. ... Institute of Policy Studies (IPS), is a political think tank in based out in Islamabad, Pakistan. ... The Pakistan Institute of International Affairs (PIIA) is a non-profit, non-governmental organization based in Karachi whose mission is to analyse and promote the understanding of major international issues and current affairs. ... Pakistan Institute of National Affairs (PINA)), is a political think tank in based out in Lahore, Pakistan. ... This is a list of companies from Pakistan. ... The following is the list of banks in Pakistan. ... // Saudi-Pak Tower, Islamabad GIK Institute Clock Tower, Topi With many towers currently under construction, there are many towers still awaiting to be approved by the city government. ... The Pakistan aviation industry was started up when Orient Airways merged with Pakistan International Airlines Corporation (PIAC) to become the national flag carrier of Pakistan called Pakistan International Airlines (PIA). ... History (First Project, Al Azam Square, Site Office, Karachi-1966). ... View of the I.I.Chundrigar Rd skyline, heart of the financial district of Karachi Karachi is the financial capital of Pakistan. ... OIC Member States; Full members in blue/Observers in pink The 57 Organization of Islamic Conference (OIC) countries have a combined GDP (at PPP) of $5,540 billions. ...

Further reading

  • Ahmad, Viqar and Rashid Amjad. 1986. The Management of Pakistan’s Economy, 1947-82. Karachi: Oxford University Press .
  • Ali, Imran. 1997. ‘Telecommunications Development in Pakistan’, in E.M. Noam (ed.), Telecommunications in Western Asia and the Middle East. New York: Oxford University Press .
  • Ali, Imran. 2001a. ‘The Historical Lineages 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. ‘Business and Power in Pakistan’, in A.M. Weiss and S.Z. Gilani (eds), Power and Civil Society in Pakistan. Karachi: Oxford University Press .
  • Ali, Imran. 2002. ‘Past and Present: The Making of the State in Pakistan’, in Imran Ali, S. Mumtaz and J.L. Racine (eds), Pakistan: The Contours of State and Society. Karachi: Oxford University Press .
  • Ali, Imran, A. Hussain. 2002. Pakistan National Human Development Report. Islamabad: UNDP .
  • Ali, Imran, S. Mumtaz and J.L. Racine (eds). 2002. Pakistan: The Contours of State and Society. Karachi: Oxford University Press .
  • Amjad, Rashid. 1982. Private Industrial Investment in Pakistan, 1960-70. London: Cambridge University Press .
  • Andrus, J.R. and A.F. Mohammed. 1958. The Economy of Pakistan. Stanford: Stanford University Press .
  • Barrier, N.G. 1966. The Punjab Alienation of Land Bill of 1900. Durham, NC: Duke University South Asia Series .
  • Jahan, Rounaq. 1972. Pakistan: Failure in National Integration. New York: Columbia University Press .
  • Kessinger, T.G. 1974. Vilyatpur, 1848-1968. Berkeley and Los Angeles: University of California Press .
  • Kochanek, S.A. 1983. Interest Groups and Development: Business and Politics in Pakistan. New Delhi: Oxford University Press .
  • LaPorte, Jr, Robert and M.B. Ahmad. 1989. Public Enterprises in Pakistan. Boulder, Colorado: Westview Press .
  • Latif, S.M. 1892. Lahore. Lahore: New Imperial Press, reprinted 1981, Lahore: Sandhu Printers .
  • Low, D.A. (ed.). 1991. The Political Inheritance of Pakistan. London: Macmillan .
  • Noman, Omar. 1988. The Political Economy of Pakistan. London: KPI .
  • Papanek, G.F. 1967. Pakistan’s Development: Social Goals and Private Incentives. Cambridge, Massachusetts: Harvard University Press .
  • Raychaudhuri, Tapan and Irfan Habib (eds). 1982. The Cambridge Economic History of India, 2 vols. Cambridge: Cambridge University Press
  • White, L.J. 1974. Industrial Concentration and Economic Power. Princeton, N.J.: Princeton University Press .
  • Ziring, Lawrence. 1980. Pakistan: The Enigma of Political Development. Boulder, Colorado: Folkestone .
  • Ali, Imran. 1987. ‘Malign Growth? Agricultural Colonization and the Roots of Backwardness in the Punjab’, Past and Present, 114
  • Ali, Imran. August 2002. ‘The Historical Lineages of Poverty and Exclusion in Pakistan’, South Asia, XXV(2).
  • Ali, Imran and S. Mumtaz. 2002. ‘Understanding Pakistan—The Impact of Global, Regional, National and Local Interactions’, in Imran Ali, S. Mumtaz and J.L. Racine (eds), Pakistan: the Contours of State and Society. Karachi: Oxford University Press .
  • Hasan, Parvez. 1998. Pakistan’s Economy at the Crossroads: Past Policies and Present Imperatives. Karachi: Oxford University Press .
  • Hussain, Ishrat. 1999. Pakistan: The Economy of an Elitist State. Karachi: Oxford University Press .
  • Khan, Shahrukh Rafi. 1999. Fifty Years of Pakistan’s Economy: Traditional Topics and Contemporary Concerns. Karachi: Oxford University Press .
  • Kibria, Ghulam. 1999. Shattered Dream: Understanding Pakistan’s Development. Karachi: Oxford University Press .
  • Kukreja, Veena. 2003. Contemporary Pakistan: Political Processes, Conflicts and Crises. New Delhi: Sage Publications .
  • Zaidi, S. Akbar. 1999. Issues in Pakistan’s Economy. Karachi: Oxford University Press

References

  1. ^ World Bank Country Classification Groups, (July 2006 data)
  2. ^ Pakistan economy profile 2007
  3. ^ https://www.cia.gov/library/publications/the-world-factbook/rankorder/2003rank.html
  4. ^ a b c https://www.cia.gov/library/publications/the-world-factbook/geos/pk.html#Econ
  5. ^ https://www.cia.gov/library/publications/the-world-factbook/rankorder/2087rank.html
  6. ^ https://www.cia.gov/library/publications/the-world-factbook/rankorder/2078rank.html
  7. ^ http://www.pakistan.gov.pk/divisions/ContentInfo.jsp?DivID=18&cPath=165_171&ContentID=2351
  8. ^ GDP Estimate
  9. ^ Pakistan Embassy
  10. ^ a b Pakistan ends 15-year ties with IMF; Daily Times, 7 September 2004) Pakistani Newspaper Article, 2004
  11. ^ Concluding Remarks at the Pakistan Development Forum 2006 by John Wall, World Bank Country Director for Pakistan (html). World Bank. Retrieved on 2006-12-20.
  12. ^ GDP growth 7pc; DAWN, 09 June 2007) Pakistani Newspaper Article, 2007
  13. ^ Approved Policy of HEC for Foreign Collaboration[1]
  14. ^ Doing Business in 2006: South Asian Countries Pick up Reform Pace, says World Bank Group; India Ranks 116th, 25 Places After China; Pakistan Among Top 10 Reformers (September 12, 2005). Retrieved on 2006-06-03.
  15. ^ "Pakistan facing Mexican-style financial crunch", Daily Times, April 26, 2006. Retrieved on 2006-06-03. 
  16. ^ Ishrat Husnain - Economy of Pakistan PDF Format Article by the Governor of State Bank of Pakistan.
  17. ^ http://www.bloomberg.com/apps/news?pid=20601080&sid=aOyzq1RccJaM&refer=asia
  18. ^ https://www.cia.gov/library/publications/the-world-factbook/geos/pk.html
  19. ^ Feeney and Alam Report on Pakistan fertility, 2003 PDF Format
  20. ^ https://www.cia.gov/library/publications/the-world-factbook/rankorder/2129rank.html
  21. ^ http://www.paktribune.com/news/index.shtml?156995
  22. ^ FAOSTAT Database Results. Retrieved on 2006-06-03.
  23. ^ Economic Survey of Pakistan, 2005-6
  24. ^ [2]
  25. ^ [3]
  26. ^ [4]
  27. ^ http://www.forbes.com/lists/2005/03/30/05f2000land.html
  28. ^ Himala South Asian, Pakistan Edition
  29. ^ http://www.ameinfo.com/87639.html
  30. ^ http://www.dailytimes.com.pk/default.asp?page=2006%5C06%5C02%5Cstory_2-6-2006_pg1_4
  31. ^ http://www.emaar.com/MediaCenter/PressReleases/2006May31.asp
  32. ^ Coal, Granite, China Clay and other Resources of Thar, Geological Survey of Pakistan, URL accessed on April 02, 2006
  33. ^ http://www.statpak.gov.pk/depts/fbs/statistics/national_accounts/table13.pdf
  34. ^ Pakistan: Growth and Export Competitiveness, World Bank Document No. 35499-PK, Table 6.7, page 116. Issued 25 April 2006
  35. ^ "World Bank plans 6.5 bln usd lending to Pakistan", Forbes.com, 06.02.2006. Retrieved on 2006-06-03. 
  36. ^ "Japan to resume USD 500 mn annual funding for Pak", The Hindu News Update Service, May 29, 2006. Retrieved on 2006-06-03. 
  37. ^ http://www.dawn.com/2007/07/17/ebr1.htm
  38. ^ http://www.dailytimes.com.pk/default.asp?page=20060603story_3-6-2006_pg5_1
  39. ^ http://www.tmcnet.com/usubmit/-fdi-into-pakistan-jumps-1806-1st-9-months-/2006/04/26/1610074.htm
  40. ^ http://www.paktribune.com/news/index.shtml?173789
  41. ^ http://www.dailytimes.com.pk/default.asp?page=20070401story_1-4-2007_pg5_2
  42. ^ Macroeconomic Stability of Pakistan: The Role of the IMF and World Bank (1997–2003) Faisal Cheema, University of Illinois at Urbana-Champaign, May 2004
  43. ^ http://www.statpak.gov.pk/depts/fbs/statistics/external_trade/monthly_external_trade/met6/summary_june2007.pdf
  44. ^ "Pakistan to start cement export by August end". 
  45. ^ http://www.statpak.gov.pk/depts/fbs/statistics/external_trade/monthly_external_trade/met6/summary_june2007.pdf
  46. ^ http://www.statpak.gov.pk/depts/fbs/statistics/external_trade/14.8.pdf
  47. ^ http://www.dawn.com/2007/07/22/ebr1.htm
  48. ^ http://www.dailytimes.com.pk/default.asp?page=2006%5C03%5C24%5Cstory_24-3-2006_pg5_4
  49. ^ http://www.dawn.com/2004/02/13/ebr4.htm
  50. ^ http://www.qern.org/node/215
  51. ^ http://www.dailytimes.com.pk/default.asp?page=2006%5C03%5C24%5Cstory_24-3-2006_pg5_4
  52. ^ http://www.dawn.com/events/budget07-08/index.htm

is the 250th day of the year (251st in leap years) in the Gregorian calendar. ... Year 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 354th day of the year (355th in leap years) in the Gregorian calendar. ... June 9 is the 160th day of the year in the Gregorian calendar (161st in leap years), with 205 days remaining. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st Century. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 154th day of the year (155th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 154th day of the year (155th in leap years) in the Gregorian calendar. ... The State Bank of Pakistan (SBP) is the central bank of Pakistan. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 154th day of the year (155th in leap years) in the Gregorian calendar. ... The World Bank (the Bank), a part of the World Bank Group (WBG), was formally established on December 27, 1945, following the ratification of the Bretton Woods agreement. ... is the 115th day of the year (116th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 154th day of the year (155th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 154th day of the year (155th in leap years) in the Gregorian calendar. ...

External links

Official Websites
  1. Statistics Division, Government of Pakistan
  2. Ministry of Finance, Government of Pakistan
  3. Regional / Bilateral Trade Agreements
  4. Trade Statistics and Analysis Ministry of Commerce
  5. Board of Investment, Government of Pakistan
  6. Central Board of Revenue
  7. Privatization Commission
  8. Central Depository of Pakistan Limited
  9. World Trade Organization: Pakistan
  10. National Clearing Company of Pakistan Limited
  11. Security and Exchange Commission of Pakistan
  12. Pakistan Software Export Board (PSEB)
  13. Central Board of Revenue: Pakistan's current trade policy
  14. Pakistan International: Chamber of Commerce
Finance Newspapers/Magazines
  1. Economy of Pakistan Blog Blog featuring information on growth, development and fiscal issues
  2. Business Recorder Karachi, Lahore, Islamabad based Business Newspaper
  3. Pakistan Economist Pakistan's leading Business & Economy Magazine
  4. Industrial Information Network Pakistani B2B and information portal
  5. Stockpk -- We Watch The Stocks For You Articles on the Stock Exchanges of Pakistan
  6. Live updates on the Karachi Stock Exchange
Economy Profile Information
  1. CIA-The World Fact Book, Pakistan Section
  2. Pakistan CPI Index
  3. United Nations Development Programme, Human Development Index
  4. Index of Economic Freedom, 2005
  5. The Economist's Pakistan Fact Sheet
  6. The Economist Economic Data of Pakistan
  7. BBC Facts & Figures on Pakistan
  8. Global Economic Prospects: Growth Prospects for South Asia The World Bank, Dec. 13, 2006
URL Based News
  1. The Economy: Pakistan's economic nightmare BBC Business News Article, 1999
  2. The Economy: Pakistan closes its banks BBC Business Article, 1999
  3. Disappointment over IMF talks BBC Article, 1999
  4. Sanctions boost for Pakistan economy BBC Article, 2001
  5. The Economist: Recent Articles on Pakistan
  6. World business invited to invest in Pakistan
  7. India, China And Pakistan Steal the show at the World Economic Forum Meeting Asia Plus, 2005
  8. '67% US companies plan to raise investment in Pakistan'
  9. Indonesia, Pakistan Strengthen Trade Ties Yahoo News, 2005
URL Based Articles
  1. SURVEY: INDIA AND PAKISTAN: "Not cricket", The Economist (May 20th 1999)
  2. Modern world economics and Pakistan Karachi Plus, Business Section
  3. Business, Stakeholders and Strategic Responses in Pakistan Article written by Imran Ali of Lahore University of Management Sciences
  4. EU report on new business opportunities in Pakistan (pdf)
Articles
  • Macroeconomic Stability of Pakistan: The Role of the IMF and World Bank (1997-2003), ACDIS Occasional Paper by Faisal Cheema
  • Economic Cooperation between Pakistan and India: Need, Problems, and Prospects, ACDIS Occasional Paper by M. Nasrullah Mirza

  Results from FactBites:
 
Economy of Pakistan Summary (0 words)
Pakistan is a developing country with the world's sixth-largest population, and an economic growth rate that has been consistently positive since a 1951 recession.
Pakistan, a developing country, is the List of countries by populationsixth most populous in the world and is faced with a number of challenges on the political and economic fronts throughout its History of Pakistanhistory.
Pakistan's economic outlook has brightened in recent years in conjunction with rapid economic growth and a dramatic improvement in its foreign exchange position as a result of its current account surplus and a consequent rapid growth in hard currency reserves.
Economy of Pakistan - Wikipedia, the free encyclopedia (6144 words)
Pakistan is a developing country with the world's sixth-largest population, and an economic growth rate that has been consistently positive since a 1951 recession.
Pakistan, a developing country, is the sixth most populous in the world and is faced with a number of challenges on the political and economic fronts throughout its history.
Pakistan's economic outlook has brightened in recent years in conjunction with rapid economic growth and a dramatic improvement in its foreign exchange position as a result of its current account surplus and a consequent rapid growth in hard currency reserves.
  More results at FactBites »

 
 

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