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Economy of Pakistan

Economic History
Five decades
Pakistan is very poor and largely agricultural country obtained independence from Britain in 1947. Pakistan average rate of economic growth since independence has been higher than the average rate of growth world economy during the period. Average annual growth rate of GDP was 6.8% in 1960 from 4.8% in the 1970s and 6.5% in the 1980s. The average annual growth declined to 4.6% in the 1990s with growth significantly lower in the second half of the decade. See also
Industrial growth in the sector, including manufacturing, also above average. During the 1960s, Pakistan has been considered a model of economic development in the world, and there was much praise for its economic progress. Karachi has been considered an economic model around the world, and there was much praise for the way its economy grows. Many countries have sought to imitate the strategy of economic planning and Pakistan one of them, South Korea, copied from City Second Five Year Plan "and World Financial Center in Seoul was designed and the model of Karachi. Later, economic mismanagement in general, and fiscally imprudent economic policies, in particular, has resulted in a significant increase in public debt of the country and led to slower growth in the ten 1990. Two wars with India over Kashmir war of 1965 and the liberation war of Bangladesh in 1971 and the separation of Bangladesh affected negatively economic growth. In particular, the war, the latter brought the economy close to recession, although economic output has recovered strongly until the nationalization in the 1970s. The economy rebounded in the years 1980 through a policy of deregulation and the influx of foreign aid and remittances from expatriate workers.
In recent decades
This is a graph of the trend of Pakistan's gross domestic product at market prices according to the International Monetary Fund and Figures in millions of Pakistani rupees. See also
Year
Gross domestic product
dollar exchange U.S.
Inflation
(2000 = 100)
Per capita
(As% of U.S.)
1960
20,058
4.76 Pakistani rupees
3.37
1965
31,740
Pakistan 4.76 rupees
3.40
1970
51,355
4.76 Pakistani rupees
3.26
1975
131,330
Pakistan 9.91 rupees
2.36
1978
283,460
9.97 Pakistani rupees
21
2.83
1985
569,114
16.28 Pakistani Rupees
30
2.07
1990
1029093
21.41 Pakistani Rupees
41
1.92
1995
2268461
30.62 Pakistani Rupees
68
2.16
2000
3826111
51.64 Pakistani Rupees
100
1.54
2005
6581103
59.86 Pakistani Rupees
126
1.71
Resilience economic
Growth rate of GDP 1951-2007
Background
Historically, Pakistan overall economic output (GDP) has increased each year since the recession 1951. Despite this record of sustained growth, Pakistan's economy had, until recently, has been characterized as unstable and extremely vulnerable to external and internal shocks. However, the economy proved to be unexpectedly resistant to multiple Adverse events covered a period of four years (1998-2002) period
The Asian financial crisis;
economic sanctions According to Colin Powell, Pakistan was "sanctioned in the eyes";
The global recession of 2001-2002;
worst drought severe in the history of Pakistan, which lasts about four years;
perception of higher risk because of military tensions with India, with nearly 1 million troops along the border, and forecasts for the next (potentially nuclear) war;
post-9/11 military action in Neighboring Afghanistan, with a massive influx of refugees from that country;
Despite these adverse events, Pakistan's economy has continued to grow, and economic growth accelerated towards the end of this period. This resistance has led to a change in the perception of the economy, with major institutions like the IMF, the World Bank and the ADB praising Pakistan's performance against adversity.
Recent reports resistance
further confirmation that the economy is not as sensitive as the climate had been received from a Analysis of 2008 that "68 countries examined, quantifying their sensitivity to climate fluctuations, using figures on GDP by industry and the sensitivity of certain sectors of the meteorological variables. "The analysis showed that of 68 countries, the country" less sensitive to climate was Pakistan. "
After the very destructive earthquake of 2005, Pakistan's economy has continued to grow, grow more 7 per cent over the twelve months ending June 30, 2006.
Pakistan emerged as one of the best performers, following the financial crisis world, while the country has embarked on a costly war against the militants. Its economy has been driven by very little affected and Banking sector cash surplus boasted while remaining safe. However, the impact has been observed in the export sectors Strank due to lower external demand. ref> "Barclays sees great potential in Pakistan (August 14, 2009)." DAWN. http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/news/business/09-barclays-sees-huge-potential-in-pakistan—szh-05. Accessed 15/09/2009. </ Ref>
Macroeconomic reform and prospects
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Roads national highways and strategic roads Pakistan.
According to various sources, the Government of Pakistan has made important economic reforms since 2000, and the medium-term job creation and poverty reduction are the best in nearly a decade.
Revenues government have improved markedly in recent years due to economic growth, tax collection of tax reforms – with a widening tax base, and more effective suite of programs for self-evaluation and control of corruption in the Central Board of Revenue – And the privatization of public services and telecommunications. Pakistan is aggressively cutting tariffs and boost exports by improving ports, roads, electricity supply and irrigation. Islamabad has doubled development expenditure of about 2% of GDP in the decade 1990-4% in 2003, a necessary step to halt the general underdevelopment of its social sector.
The liberalization of international trade Textile has already produced benefits for exports from Pakistan and the country also expects to benefit from trade liberalization in agriculture. As a large country, Pakistan hopes to build significant economies of scale, and to replace China as the largest manufacturer textiles as the last made by China in the value chain. These industries are the strengths of Pakistan in low labor costs.
Strengthening stability of the nation's monetary policies has contributed to a reduction in interest rates money market and a strong expansion in the amount of credit, investment trends of the nation. Pakistan domestic production of natural gas, and its significant use of fuel in automobiles, has cushioned the effect of oil shock of 2004-2005. Pakistan also depart from the doctrine of import substitution that some developing countries (including Iran) held dogmatically in the twentieth century. The Pakistani government is currently pursuing an export-led model economic growth successfully implemented by South Asia and now a great success in China.
In 2005, the World Bank said
"Pakistan was the top reformer in the region and the number 10 reformer globally and it is easier to start a business reducing the cost to register property, increasing penalties for violating the rules of corporate governance, and replacement a licensing requirement for each shipment with two-year licenses for traders. "
Doing Business
The World Bank (WB) and the Lighthouse IFC enter the Doing Business 2010 ranks among the 85 181 countries worldwide Pakistan. Pakistan reached the highest in South Asia, but also a greater value China, Russia and India, which is 133. The top five countries Zealand, Singapore, New, United States, Hong Kong and the United Kingdom.
The Government of Pakistan established in recent years, granted numerous incentives to technology companies wishing to do business in Pakistan. A combination of tax holidays more decade, zero duties on computer imports, government incentives for venture capital, with a variety of programs to subsidize technical education, is designed to stimulate the growing industry of information technology. This past year has resulted in impressive growth in this sector.
Economy Today
Because inflation and the global economic crisis, Pakistan's economy come to a state of balance of payments crisis. "The International Monetary Fund bailed Pakistan in November 2008 to avoid a crisis of balance of payments in July last year has increased the loan to 11.3 billion dollars in an amount initial 7.6 billion. "
In October 2007, the reserves of Pakistan has raised a handsome $ 16.4 billion. Pakistan maintains political implication controlled trade deficit to 13 billion dollars, exports increased by U.S. $ 18 billion dollars, generating revenue increased to 13 billion of dollars and attracted foreign investment of 8.4 billion dollars.
Since 2008, Pakistan's economic outlook has taken stagnation. Problems safety generated by the function of the nation in the war against terrorism has created great instability and led to a decline in FDI a height of approximately $ 8 million to $ 3.5 billion for the fiscal year. At the same time, the insurgency has forced a massive flight of capital from Pakistan to the Gulf. In combination with rising global commodity prices, the combined impact shocked economy Pakistan, with rising trade deficits, high inflation and declining value of the rupee, which rose from 60 to 1 USD to more than 80-1 of dollars in a few months. For the first time in years, which may have to seek external funding in the balance of payments. Consequently, S & P rating Low external debt of Pakistan currency B CCC-top, just above a level several notches indicating default. Pakistan's credit rating in local currency dropped within B-BB. Credit agency Moody's Investors Service lowered its outlook for Pakistan debt stable to negative due to political uncertainty, although it maintained the status B2.The countries at a cost of protection against a default on Pakistan trade sovereign debt at 1,800 basis points, according its credit default swaps for five years, a level which indicates that investors think the country is already or will soon be in default.
Average but it may be less turbulent, depending on the political environment. The EIU believes that inflation should fall to single digits in 2010 and that growth should pick up over 5% per year in 2011. Well below the average of previous years July 5% represents an improvement the current crisis, where growth is a mere 3.5-4%.
Economic comparison of Pakistan 1999-2008
A view of IIChundrigar Road, the business district of Karachi Pakistan
Pillar of the economy – by region Source:
Indicator
1999
2007
2008
2009
GDP
75 billion dollars
$ 160000000000
$ 168000000000
$ 185000000000
purchasing power parity GDP (PPP)
$ 245,000 000,000
445500000000 $
$ 445000000000
$ 545600000000
GDP per capita
$ 450
$ 925
$ 1,085
$ 1250
Revenue collection
R. 305000000000
R. 708000000000
R. 990000000000
R. 1.05 trillion
International reserves
$ 700,000,000
16.4 billion
$ 10,000,000,000
$ 14 billion
Export
$ 7500000000
$ 18,500,000,000
$ 19220000000
$ 18.45 billion
The textile exports
$ 5500000000
11.2 billion U.S. dollars
–
–
KHI Stock (100-Index)
5 billion dollars to 700 points
75 billion U.S. dollars to 14,000 points
56 billion dollars in 9000 points
FDI
Billion $
8400000000 dollars
$ 5190000000
$ 4600000000
Debt service
65% of GDP
26% of GDP
–
–
Level of poverty
34%
24%
–
–
Literacy rate
45%
53%
–
–
Development programs
R. 80000000000
R. 520000000000
R. 549700000000
R. 880000000000
Economic comparison 1999-2008
Scholarship
Main article: Karachi Stock Exchange
During the four early twenty-first century, Pakistan KSE 100 stock index from the index's top of the world as declared by the magazine International Business Week. [Edit] Market capitalization of listed companies in Pakistan was estimated at 5.937 million dollars in 2005 by the World Bank. . But in 2008, after general elections, the uncertain political environment, the growing militancy along the borders Western countries, and rising inflation and current account deficit has caused the sharp decline in the Karachi Stock Exchange. Consequently, the business sector Pakistan has declined dramatically in importance in recent times.
Manufacturing and Finance
manufacturing sector of Pakistan has grown to two numbers in recent years, from 2000-2007, with the large scale manufacture more and more a low of 1.5% in 1999 to a record 19.9% in 2004-05 and an average of 8.8% in late 2007. .
The Federal Statistical Office welcomes the finance and insurance in Rs.311, 741 million in 2005 registering and is up over 166% since 2000. Reducing the budget deficit has led to less government borrowing in the domestic money market, the lower interest rates and an expansion of private sector lending to businesses and consumers.
The growing middle class
Measured by purchasing power, Pakistan is 30 million strong middle class, according to Dr. Ishrat Husain, former Governor (December 2, 1999 until December 1, 2005), State Bank of Pakistan. This figure corresponds to research by Standard Chartered Bank, believes that Pakistan has "an average of 30 million class people that Standard Chartered estimates now earn an average of about $ 10,000 per year. "The latest figures put Pakistan Middle Class to 35 million members. In addition, Pakistan has a growing middle class and upper estimated at 6.8 million in 2002 and is expected to grow by 17 million people by 2010, with a high per capita income.
On measures of income inequality, the country is a little better than the median. In late 2006, the Central Board of Revenue estimated that There were nearly 2.8 million income taxpayers in the country.
Poverty levels have decreased by 10% since 2001, foreign companies establishing Pakistani middle class has been very successful. For example, demand for Unilever products have recently been so high that even after have doubled the production of Anglo-Dutch struggle to meet demand and the President stated that "the Pakistanis do not seem enough."
Fight against poverty spending
Main article: Poverty in Pakistan
Poverty in Pakistan
The Pakistani government has spent more than 1 billion rupees (approximately U.S. $ 16.7 billion) on programs to fight against poverty over the past four years, the reduction poverty by 35 per cent in 2000-01 to 24 per cent in 2006. Rural poverty remains a pressing problem, because the development has been slower than in large urban areas.
Demography
Main article: Demographics of Pakistan
With a GDP per capita over $ 3,000 (PPP, 2006), compared to $ 2.600 (PPP 2005) in 2005, the World Bank considers Pakistan middle-income countries, is also listed as a country "development means "in the 2007 Human Development Index. Pakistan has a large informal economy, the government attempts to document and evaluate. Approximately 49% adults are literate and life expectancy is about 64 years. The population, about 168 million dollars in 2007, is more about 1.80%.
Relatively few resources in the past had been devoted to socio-economic infrastructure. the lack of services social, high birth rates and immigration from neighboring countries have in the past contributed to the persistence of poverty. Study recently concluded that the influence of the fertility rate peaked in the 1980s and has since fallen sharply. Pakistan Gini index of income family of 41, near the world average of 39.
Employment
High population growth in recent decades has ensured that a large number of youth entering the labor market. Despite being one of the seven most populous countries of Asia, Pakistan has a population density less Bangladesh, Japan, India and the Philippines. Historically, excessive bureaucracy came to the termination of employment, recruitment and, consequently, difficult. The significant improvements reforms of tax and businesses have ensured that many companies are no longer necessary exploitation in the informal economy.
In late 2006, the government launched an ambitious national plan for employment services to pay nearly 2 billion in five years.
Tourism
Main article: Tourism in Pakistan
Tourism in Pakistan is a growing industry. The main attractions are the ruins of the civilization of the Indus Valley and the ski resorts in the Himalayas. Himalaya and Karakorum (including K2, the second highest peak the mountain in the world, it attracts adventurers and mountaineers from around the world. Karachi and Lahore are the main attractions of Pakistani food and authentic culture.
Income
The Board of Revenue has collected nearly one billion rupees (14.1 billion dollars) in taxes in 2007-2008.
Currency System
Main article: Pakistani rupee
The ticket of Rs 500
Rupee
The Pakistani rupee has been pegged to the U.S. dollar until 1982. When the government of General Zia-ul-Haq, has changed to float. This was considered the best decision Zia. Consequently, the rupee depreciated by 38.5% between 1982/83 and 1987/88 and the anti-export bias of the economy has declined. The basic unit of currency is the Rupee, PKR and abbreviated ISO code R, which is divided into 100 paisas. Currently, the notes of Rs 5,000 newly printed is the largest denomination in circulation. Recently, SAP has taken every new design notes of Rs 5, 10, 20, 50, 100, 500, 1000, 5000 and position, while the design work of Rs.10, 000 note will help the banking industry in sustaining a few notes of savings accounts. The new notes have been designed using the technology of the euro and made in bright colors bold and bright stylish design.
dollar exchange rate rupee
The exchange rate
1 Pakistani rupee (PKR) = 100 Paisa
The Pakistani rupee has depreciated against the U.S. dollar until the end of the century, when Pakistan, the surplus current accounts, pushed the value of the rupee against the dollar up. Center Bank of Pakistan has stabilized in reducing interest rates and buy dollars to maintain the competitiveness of the exporting country
Exchange rates: Pakistani rupee (PKR) U.S. $ 1
PKR per U.S. dollar 1995-2008
Year
Best
Lowest
Date
Type
Date
Type
1995
30,930 PKR
1996
35,266 PKR
1997
40,185 PKR
1998
44,550 PKR
1999
PKR 51.90
2000
PKR 53.6482
2001
PKR 61.9272
2002
PKR 59.7238
2003
57,752 PKR
2004
58.000 PKR
2007
August 1905
PKR 60.75
November 1
PKR 60.50
2008
October 10
PKR 80.00
April 1
PKR 63.50
Source: exchange rate dollar PKR, PAS
Exchange reserves
In October 2007, after Prime Minister Shaukat Aziz mandate, Pakistan increased its foreign currency reserves to 16.4 billion dollars. The trade deficit of Pakistan has been 13 billion dollars, exports grew by 18 billion dollars, generating rising incomes to become 13 billion dollars U.S. and the country has attracted foreign investment of 8.4 billion dollars.
October 11, 2008 National Bank of Pakistan reported that international reserves countries fell exchange for 571.9 million to $ 7749.7 million. Foreign exchange reserves have dropped by more than 10 billion dollars at an alarming rate from $ 6.59 billion.
Structure of the Economy
The economy of the Islamic Republic of Pakistan suffers high rates of inflation well above 26%. More than 1081 patent applications were filed by the Pakistanis, non-residents in 2004 shows a new confidence. Agriculture accounted for approximately 53% of GDP in 1947. While agricultural production per capita has increased since then, he has been overtaken by the growth of agricultural sector and the share of agriculture has been reduced to about one fifth of Pakistan's economy. In recent years, the country has experienced rapid growth sectors (eg clothing, textiles and cement) and services (such as telecommunications, transport, advertising and finance).
The sectoral contribution to GDP growth
Most of the recent acceleration of growth of GDP comes from industries and services.
GDP growth by sector in percentage of GDP
Sector
2001-2002
2002-2003
2003-2004
2004-2005
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: Study Pakistan's economic 2005
Production Structure
Share of different sectors in GDP
Sector
2000-2001
2001-2002
2002-2003
2003-2004
2004-2005
Products (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. Transport and COM.
11.7
11.5
11.5
11.4
11.1
7. Trade
18.1
18.0
18.2
18.5
19.1
8. Finance and Insurance
3.1
3.6
3.3
3.3
3.7
9. Homeownership
3.2
3.2
3.2
3.1
2.9
10. Public Administration. And 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: It is estimated that the GDP at constant factor cost. The figures are percentages.
Source: Economic Survey of Pakistan 2005
Sectors
Agriculture
Main article: Agriculture in Pakistan
Agriculture, by province
Mango orchard in Multan, Pakistan
Pakistan is one of the largest producers and suppliers worldwide in the following function of the 2005 Food and Agriculture Organization of the United Nations FAOSTAT given here with the classification:
Chickpea (2nd)
Apricot (4th)
Cotton (4th)
Cane sugar (4)
Milk (5)
Onion (5th)
The date palm (6th)
Mango (3rd)
Mandarins, mandarin, clementine (8)
Rice (8 ª)
Wheat (9)
Oranges (10th)
Pakistan ranks fifth in the world Muslim world and XX of agricultural production. He is the producer of milk in fifth place.
major natural resources of Pakistan are arable land and water. Approximately 25% of the total area under cultivation in Pakistan and is watered by one of the largest irrigation systems in the world. Pakistan irrigates three times more that Russia acres. Agriculture represents about 23% of GDP and employs about 44% of the workforce. Zarai Taraqiati Bank Limited is the largest financial institution to develop the agricultural sector through the provision of financial services and technical expertise.
Industry
Main article: Industry of Pakistan
Production by Province
Pakistan are two major companies, according to the Forbes Global 2000 in 2005.
Global
rating
Company Name
1284
Oil and natural gas
1316
PTCL
Forbes Global 2000
Pakistan occupies the forty-first in the world and the world of the fifty-fifth factory production.
industrial sector represents nearly 24% of Pakistan's GDP. production of cotton textiles and apparel manufacturing industries are the most important of Pakistan, which represents approximately 66% of exports of goods and almost 40% of the employed population. Other important industries include cement, fertilizer, edible oils, sugar, steel, tobacco, chemicals, machinery and food processing.
The government is privatizing large-scale units parastatal and public sector represents a declining share of industrial output, while the Global Industrial output growth (including the private sector) has accelerated. Government policies aimed at diversifying the country's industrial base and promote export industries.
Industries: textiles (8.5% of GDP), fertilizer, cement, petroleum refining, dairy, food processing, beverages, materials construction, clothing, paper products, shrimp
Growth rate of production 6% (2005)
The rate of production to large scale Growth: 19.9% (2005)
Automotive
Pakistan is an emerging market for autos and auto parts offers immense investment. The total contribution of the automotive industry to GDP in 2007 is 2.8%, which is likely to increase to 5.6% over the next five years. Automotive currently contributes 16% to industry, which is also expected to increase by 25% over the next seven years.
CNG industry
Since 2009, Pakistan is one of the largest consumers of CNG (compressed natural gas) in the world. Currently, more than 2,900 CNG stations are present in the country in 85 cities and villages, and 1,000 more will be created within three years ahead. It has provided jobs to over 50,000 people in Pakistan.
Industry cement
In 1947, Pakistan had inherited four cement plants with a total capacity of 0.5 million tonnes. Some expansion occurred in 195 666 but could not keep pace with economic development and the country has had to rely on imports of cement in 1976-77 and continued to do until 1994-95. The cement industry is composed of 27 plants contributing more than Rs 30 billion national treasure in the form of taxes.
IT Industry
Pakistan, the sector has grown steadily since the end of three years. A sharp increase in software export figures are an indication of the potential of the industry booming. The total number of IT companies have increased until 1306 and the estimated size of the IT industry is 2.8 billion. In 2007, Pakistan has been featured in Global Services Location Index AT Kearney and was ranked as the best place to relocate the 30th By 2009, Pakistan has improved its ranking of ten places to get to 20.
Textiles
The textile industry is dominated by Punjab. For example, only 1.5 million of people of NWFP are used in industry. 3% of U.S. imports of textiles and clothing covered elsewhere in Pakistan. Exports of textiles in 1999 were $ 5.2 billion and continued to convert $ 10,500 million in 2007. Exports of textiles has been increasing growth very Decent 16% in 2006. In the period July 2007 to June 2008, textile exports of U.S. $ 10,620,000,000. Exports of textile export share Pakistan's total was down 67% in 1997 to 55% in 2008, exports of other non-clothing has increased.
Mining
The Pakistan is endowed with significant mineral resources and news in a promising area for exploration / Exploration of mineral deposits. According to available information, the country more than 6,00,000 km of outcrops of the region shows several potential geological deposits of metallic and nonmetallic minerals. Excluding petroleum, the gas and nuclear minerals regulated at the federal level, the minerals are a provincial subject under the Constitution of the Islamic Republic of Pakistan. Provincial governments are responsible for the development and exploitation of minerals, in addition, the implementation regulatory regime. According to the constitutional framework of federal and provincial governments have jointly established the first Pakistan National Mineral Policy in 1995, correctly implemented by the provinces, on the institutional and regulatory framework, fair and internationally competitive tax system.
In the recent past evidence exploration of government agencies and multinational mining companies ample occurrences of mineral deposits of considerable size. The Recent discoveries of a thick oxidized zone based sulphide zones in the area of weapons of Punjab province, covered by a thick blanket alluvium were opened up new avenues for exploration of metallic minerals. Pakistan has a large base of industrial minerals. The discovery of coal deposits of 175 billion tons of reserves in Thar in Sindh province has given impetus to its development as a source alternative energy. There is great potential for precious stones and dimension.
Implementation of the Mineral Policy (1995) paved the way for the expansion companies in the mining sector and attract international investment in this sector. International mining companies have responded positively to the NMP and now at least four are dedicated to mining developments.
Currently, about 52 minerals are in operation, albeit on a smaller scale. Most production from coal, rock salt and other minerals for construction and industry. The mining sector currently contributes GDB is approximately 0.5% and is likely to increase considerably in the development and commercial exploitation of copper deposits and Saindak Diq Reco Or (gold mine in the world), zinc and lead deposits Dudda Thar coal and precious stones.
Services
The services sector province
Pakistani accounts of service sector approximately 53.3% of GDP. Transport, storage, communications, finance and insurance account for 24% this sector, and wholesale and retail 30%. Pakistan seeks to promote the information industry and other modern service industries through tax incentives such as tax long term.
The government is very aware of the enormous potential growth in employment in the sector services and has launched aggressive privatization of telecommunications, banking and despite labor disputes. [Edit]
Communication
A one-stop PTCL in Islamabad
Pakistan Telecommunications Company Ltd. has become a success in 2000 Forbes conglomerate with over $ 1 billion in sales in 2005. Market Mobile telephony has taken fourteen times since 2000 to reach a subscriber base of 91 million users in 2008, one of the highest densities mobile in the world .. In addition, there are over 6 million fixed lines in the network in the country with 100% fiber optics and coverage through WLL, even in remote areas .. Consequently, Pakistan has won the prestigious Government Leadership of the GSM Association in 2006 ..
The contribution telecom sector to benefit the National Treasury increased to Rs 110 billion in the year 2007-08 due to the general sales tax, the activation spending and other measures against Rs 100 billion in 2006-07.
The World Bank estimates that it takes about three days to get dial to Pakistan.
In Pakistan, following are the first mobile operators
Mobilink (Father: Orascom Telecom Holding, Egypt)
Ufone (Father: PTCL (Etisalat), Pakistan / UAE)
Telenor (Father: Telenor, Norway)
Warid Arab Emirates (Father: Abu Dhabi Group / SingTel UK / Singapore)
Zong (Father: China Mobile, China)
In March 2009, Pakistan had 91 million mobile subscribers – 25 million subscribers in more than over the same period in 2008. More than 3.1 million fixed lines, while up to 2.4 million connections using wireless local loop. Sony Ericsson, Nokia and Motorola, Samsung and LG that brands remain popular with customers.
Pakistan is on the brink of a revolution in telecommunications quotes [edit] and is by far the most attractive sector in Pakistan in terms of foreign direct investment in the country. Since the liberalization in the four In recent years, the telecommunications sector Pakistan has attracted more than 9 billion dollars of foreign investment. In 2007-08, communications sector of Pakistan has received only 1.62 billion dollars of foreign direct investment (FDI) of more than 30% of China's total foreign investment direct.
The growth of the state of the art infrastructure in the telecommunications sector over the last four years was the result of the vision of the PTA and the implementation of deregulation policy. Pager and mobile (cellular) were adopted in early phones and freely. Cell phones and the Internet have been taken for the good of laissez-faire to a proliferation of service providers private led to rapid adoption. With a rapidly increasing number of Internet users and ISPs, a large population of English language Pakistani society has seen an unprecedented revolution in communications.
According to PC World, a total of 6.37 billion text messages were Sent by Acision messaging systems throughout Asia Pacific in the Christmas and New Year 2008/2009. Pakistan is one of Ranker top five with a traffic increase of 763 million SMS messages.
Pakistan ranks fourth in terms of growth of broadband Internet worldwide as a basis for subscribers to broadband Internet has increased rapidly. The rankings are published by Point Topic Broadband Global Analysis, a center research worldwide.
Pakistan has more than 17 million Internet users in 2009. The country would have a potential to absorb up to 50 million users of mobile Internet phone in the next 5 years, therefore, a potential of nearly 1 million hits per month.
Almost all major ministries, agencies and institutions have their own websites.
The use of search engines and instant messaging services is also booming. Pakistanis are the most ardent Internet chat, communication with users worldwide. Recent years have seen a significant increase in the use of online marriage services, for example, leading to a major realignment of the tradition of arranged marriages.
From 2007 there were six telephone companies operating in the cell in the country with nearly 90 million mobile phone users in country.
Wireless local loop and fixed telephony sector also liberalized and the private sector has concluded that increases the rate of teledensity. In mid 2008, the installed capacity at the local loop was about 5.5 million.
telecommunications industry has created 80,000 direct jobs and 500,000 indirect jobs.
The Federal Bureau of Statistics provisional value of this sector to Rs.982, 353 million in 2005 thus registering a growth over 91% since 2000.
Railways
Main article: Pakistan Railways
A rehabilitation plan mass worth U.S. $ dollars over five years for Pakistan Railways has been announced by the government in 2005. A test a new rail link is established in Islamabad and Pakistan through Iran via Turkey-Istanbul-Teharan. In addition, it would promote trade, tourism, and also serve as an effective link for exports to Europe (As part of Europe and Turkey] in Asia.
Aviation
See also: List of airlines of Pakistan
A PIA B747-367 on the market domestic satellite Jinnah International Airport
Pakistan International Airlines, the national industry of Pakistan Civil Aviation, the figure has turnover of more than 1 trillion dollars in 2005. The government has announced a new maritime policy in 2006 that banks and financial institutions vessels of the mortgage.
private sector companies in Pakistan and include Shaheen Air International Airblue. Many private airlines are prepared as Air Mashriq Air and Air Dewan Pearl.
Airblue is a function of the state of the art Airbus A320 and A321 aircraft flying in the country, the United Arab Emirates, Oman and the United Kingdom and Norway will soon begin, Kuwait, Malaysia and India operations. Airblue recently ordered six A321 Factory fresh while two leased aircraft will soon be added dry to the current fleet of five years, making it the largest fleet to second place behind PIA, with 42 aircraft.
Wholesale and retail
The Federal Bureau of Statistics provisionally valued this sector Rs.1, 358,309 million in 2005 registering and growth of over 96% since 2000.
Finance and insurance
See also: List of banks in Pakistan
A reduction in the budget deficit resulted in less government borrowing in the domestic money market, the lower interest rates and an expansion of private sector lending companies and consumers. Foreign exchange reserves continued to reach new levels in 2007, supported by robust export growth and steady worker remittances.
Pakistan was ranked 34 out of 52 countries in the first World Economic Forum, Report on financial development, which was launched in Pakistan through the Support Fund for Competitiveness (CSF) in December 2008. By virtue of factors, policies and institutions pillar, Pakistan ranks 49th in the environment institutional, 50th in the business environment and 37 on financial stability. In the pillar of financial intermediation in banks in Pakistan ranked 25th, 42nd of 17 banks and financial markets. Availability of capital and access, Pakistan is ranked 33rd.
Pakistani banking sector remained strong and resilient during the global financial crisis in 200 809, a trait that has attracted a significant amount of FDI in the sector. Stress Tests in June 2008, the data indicate that large banks are relatively robust, with the environment and small banks positioning themselves in markets niche. The banking sector has become profitable in 2002. Your earnings have continued to grow over the next five years and peaked at 84.1 rupees (1.1 million) dollars in 2006.
The credit card market has continued its strong growth with sales pass 1 million mark in mid-2005. Since 2000, banks Pakistan began aggressive marketing of consumer loans to the emerging middle class, allowing a boom in consumption (more than seven month waiting list for certain car models) and a construction boom.
The Federal Office of Statistics provisionally valued this sector Rs.311, 741 million in 2005 thus registering a growth of over 166% since 2000.
Homeownership
The Real Estate Sector increased twenty-three since 2001, especially in cities like Lahore. But the Karachi Chamber of Commerce and Industry estimates that by the end of 2006, production Total housing units in Pakistan must be increased to 0.5 million units per year to deal with 6.1 million units in circulation in Pakistan to cover the housing deficit over the next 20 years. The report indicates that the current housing stock is aging rapidly, and one estimate suggests that more than 50 percent of the shares has more than 50 years. It is also estimated that 50 percent of the urban population lives in slums and squatter settlements. The Report of the meeting said the backlog in housing, in addition to replacing housing units out of time, is beyond the resources of public finances. This requires putting a framework to facilitate financing in the formal private sector and to mobilize resources for a system of financing non-government housing market.
The Federal Bureau of Statistics provisional value of this sector to Rs.185, 376 million in 2005 thus registering over 49% of growth since 2000.
Administration Public defense
The Federal Bureau of Statistics provisional value of this sector to Rs.389, 545 million in 2005 thus registering a growth of over 65% since 2000.
Social, community and personal services
The Federal Bureau of Statistics provisionally valued this sector at Rs.631, 229 million in 2005 thus registering a growth of over 78% since 2000.
Electricity
Main article: Electricity Sector in Pakistan
During years, the issue of balance between the offer of Pakistan against the demand for electricity has remained a largely unresolved issue. Pakistan faces a major challenge in modernizing its network responsible for the supply of electricity. While the government claims oversee a turnaround in the economy through full recovery, which just failed to supervise a comparable improvement in the quality of grid electricity. [Edit] Some officials have even claimed that the frequent power cuts across Pakistan today are indicative of a new prosperity, because it is rapidly increasing electricity demand. Yet the failure of the application is indeed a sign of a challenge for the prosperity. [Edit] And this, despite Pakistan have a huge potential to generate wind energy. Apart from this, most cities of Pakistan receives substantial sunlight throughout the year, suggests good conditions for investment in solar energy.
Recently the Minister of Water and Power, Raja Pervez Ashraf said that load shedding will end in December 2009 with the help of rental units of energy production and make the country self-sufficient 2011. [The critics who?] Stress that this is too optimistic.
Foreign trade, remittances, aid and investment
Investment
Foreign direct investment (FDI) in Pakistan has increased from 180.6 years per cent year on year to U.S. $ 2.22 billion investment portfolio and 276 percent to $ 407.4 million during the first nine months of fiscal 2006, the State Bank of Pakistan (SBP) reported April 24. During July 2005 to March 06-years annual FDI rose to $ 2.224 billion from only $ 792,600,000 and portfolio investment of $ 407,400,000, while $ 108,100,000 was for the same period last year, according to latest statistics released by the State Bank. Pakistan has Foreign direct investment nearly 8.4 billion in 6.7 years, exceeding the government target of 4 billion dollars.
Pakistan today the country most favorable to investment in South Asia. business regulations have been significantly reduced along liberal lines, in particularly since 1999. Most barriers to capital flows and International Direct Investment have been deleted. Foreign investors do not meet restrictions on capital inflows and investments of up to 100% equity participation is allowed in most sectors. given unlimited profits, dividends, fees for services or capital is now the rule. business regulations are now among the most liberal in the region. This was easily confirmed by the report of the World Bank's Doing Business Index released in September 2009, the ranking of Pakistan (the 85th) well ahead on neighboring countries such as China (89th) and India (133).
Pakistan is attracting a growing number of private capital has been classified 20th in the world based on the amount of capital investment in the country. Pakistan has been able to attract a significant share of global investments of private capital because of economic reforms in 2003 that provided foreign investors with better guarantees for the stability of the nation and its ability to repatriate funds invested in the future.
Tariffs have been reduced to an average of 16% with a maximum of 25% (except for industry the car). The privatization process began in the 1990s, has grown, with most of the private banking system owned and Industry Oil is a target of the largest privatization deal next.
Recent improvements in the economy and business environment have been recognized by international rating agencies as Moody and Standard and Poor's (upgrading of country risk at the end of 2003).
Acquisitions Foreign mergers
With the rapid growth in the economy of Pakistan, foreign investors take a great interest in the commercial sector Pakistan. In recent years, the majority of shares in many companies have been acquired by multinational groups.
Temasek Holdings Singapore PICIC for $ 339,000,000
Union Bank by Standard Chartered Bank $ 487,000,000
First Commercial Bank by ABN Amro for $ 228 million
Paktel to China Mobile for $ 460 million
PTCL to Etisalat of $ 1800000000
additional shares for 57.6% of Lakson Tobacco Company acquired by Philip Morris International for 382 million dollars
The sales revenue in foreign currencies are also helping to cover the current account deficit.
Foreign trade
exports Pakistan 2005
Pakistan with a member of the World Trade Organization, and bilateral trade agreements and multilateral agreements with many countries and international organizations.
Fluctuations in global demand for its exports, domestic political uncertainty and the impact of occasional droughts in agricultural production have contributed to the variability of the trade deficit of Pakistan.
In the six months to December 2003, Pakistan recorded current account surplus of $ 1.761 billion, or about 5% of GDP. Pakistan's exports are still dominated by textiles and garments of cotton, despite Government efforts to diversify. The exports rose 19.1% in fiscal 2002-03. The main imports are petroleum chemicals and petroleum products, edible oils, fertilizers, capital goods, industrial raw materials and consumer products.
Past imbalances outside left Pakistan with a burden of foreign debt size. principal and interest payments in 1998-99 was amounted to 2.6 billion dollars, more than double the amount paid for the year 1989-90. annual debt service peaked at over 34% of revenue export, before declining.
With a current account surplus in recent years, Pakistan's foreign exchange reserves have grown rapidly. Improvement budget management, greater transparency and other governance reforms have helped improve the credit rating of Pakistan. With declining global interest rates, these factors have enabled Pakistan to prepay, refinance and reschedule its debts please. Although the current account surplus and increased exports in recent years, Pakistan still has a large deficit in trade in goods. Deficit Financial Budget for the year 1996-1997 was 6.4% of GDP. The budget deficit for the year 2003-04 should be around 4% of GDP.
In the late 1990s Pakistan received 2.5 billion dollars per year in loans and grants from international financial institutions (IMF, World Bank and Asian Development Bank) and bilateral donors. Increasingly, the composition of aid to Pakistan has moved away from grants to loans repayable in foreign currency. All new U.S. economic aid to Pakistan has suspended the sanctions after October 1990, and more were imposed in May 1998 after Pakistan test nuclear weapons. The sanctions have been lifted by President George W. Bush After Pakistani President Musharraf allied Pakistan with the United States in its war against terror. After improving its financial position, the government has refused a new IMF assistance, and therefore the IMF program was completed. The government is also reducing tariff barriers in bilateral and multilateral.
While the country has a current account surplus and imports and exports have grown rapidly in recent years, still has a large deficit in trade in goods. The budget deficit for 2004-2005 was 3.4% of GDP. The budget deficit for fiscal year 2005-06 is expected to exceed 4% of GDP. Economists believe that the growing trade deficit would have adverse impact damping Pakistani rupee of its value against the dollar (U.S. $ 1 = 60 rupees (03 2006)) and other currencies.
One of the main reasons contributed to the worsening trade deficit is the increase in imports of earthquake relief items, especially tents, tarpaulins and plastic sheets to provide temporary shelter to survivors of the earthquake on 8 October 2005 in Azad Jammu and Kashmir and parts of NWFP, an official said. Increase deficit Trade was also encouraged by the high prices of imported oil, food, machinery and automobiles.
The Ministry of Petroleum said that this year, the import bill for oil is projected to reach $ 6.5 billion against $ 4.6 billion for the year is the main reason behind record trade deficit.
The EU is the main trading partner of Pakistan, which consumes over one third of exports in 2003.
Export
Pakistan produces quality football Export
Pakistan's exports grew by over 100% from $ 7.5 billion in 1999 to about 18 billion dollars for 2007-2008.
Exports of rice from Pakistan, furniture, cotton fiber, cement, tile, marble, fabrics, clothing, leather goods, sports goods (renowned for footballs / soccer balls), surgical instruments, electrical appliances, software, carpets and rugs, ice cream, beef cattle, chicken, milk powder, wheat, seafood (especially shrimp / prawns), vegetables, processed foods, Pakistan Suzuki mounted (in Afghanistan and other countries), defense equipment (submarines, tanks, radars), salt, marble, onyx, engineering goods, and many other items. Pakistan has been producing cement very well recognized by exporters in Asia and the Middle East. In Pakistan, August 2007, began to export cement to India to fill the shortage is caused by the construction boom.
Imports
Imports from Pakistan amounted to 30,540,000,000 dollars for the biennium 2006-2007, an increase of 8.22 per cent of imports last year to 28,580,000,000 dollars.
Pakistan single largest category of imported oil and petroleum products. Other imports of industrial machinery, construction machinery, trucks, cars, computers, computer parts, medicines, pharmaceuticals, food, civil aircraft, defense equipment, iron, steel, toys, electronics and other consumer goods.
The sales tax is 15 per cent levied on imports and domestic production. Withholding at source on income is levied at 6 per cent of imports and 3.5 percent of sales of domestic taxpayers.
External imbalances
Pakistan suffered a deficit in merchandise trade of $ 13.528 billion for the year 2006-7. The gap has widened considerably since 2002-3, when the deficit was only $ 1,060,000,000. deficit in the services sector for the period 2006-2007 was equivalent to 4.125 billion $ Export services of 4.125 billion dollars for the same year.
The combined deficit of goods and services are up to 17.653 billion dollars which represents approximately 83.5 percent of total country exports $ 21,136 (goods and services). The rising trade deficit has been attributed the oil import bill and rising food prices, machinery and automobiles.
The current account deficits – the current account deficit 2006-7 reached 7.016 billion U.S. dollars of 41 percent over the previous year 4,490 million.
Since early 2008, the economic outlook Pakistan has taken a dramatic decline. Security problems derived from the function of the nation in the war against terrorism have created great instability and leads to a decline in FDI from a height of approximately $ 8 million to $ 3.5 billion for the fiscal year. At the same time, the insurgency caused a massive flight of capital from Pakistan in the Gulf. Combined with rising global commodity prices based on double impact shocked economy Pakistan, with rising trade deficits, high inflation and declining value of the rupee has risen from 60 to 1 USD to more than 80-1 of dollars in a few months. For the first time in years, you may need to seek external financing in the balance of payments. Consequently, S & P lowered the debt rating Pakistan's foreign currency CCC-plus from B, just several notches above a level that indicates the default. Pakistan's Note local currency debt has been reduced to less than B-BB. Credit agency Moody's Investors Service lowered its outlook on the debt Pakistan from stable to negative due to political uncertainty, although it maintained the status B2.The countries at a cost of protection against default on sovereign debt trades at 1,800 points in basic agreement with Pakistan's credit default swaps for five years, a level that indicates investors believe that the country is already or will soon be in default of payment.
The center term, however, may be less turbulent, depending on the political environment. The EIU believes that inflation should fall back to single digits in 2010, and that growth should accelerate over the year by 5% 2011. Well below the average of previous years July 5%, would be beyond the current crisis where the growth is a mere 3.5-4%.
Funding
Pakistan receives economic aid from several sources as loans and grants. The International Monetary Fund (IMF), World Bank (WB), World Bank Asian Development Bank (ADB), etc provides long-term loans to Pakistan. Pakistan also receives bilateral aid from rich developed countries oil.
The Asian Development Bank will provide approximately $ 6,000,000,000 of development assistance to Pakistan during 2006-9. The World Bank published a lending program of up to 6.5 billion dollars to Pakistan under a new contract four years, 2006-2009, the assistance strategy shows a significant increase in funding of meat primarily in infrastructure. Japan 500 million U.S. dollars to provide annual financial aid to Pakistan. In November 2008, the International Monetary Fund (IMF) approved a loan of 7.6 million dollars to Pakistan to help stabilize and rebuild the economy. More recently, Govt of Pakistan has received economic aid of U.S. $ 5 billion U.S., whose commitment to U.S. $ 1 billion U.S. has been described as a down payment on the $ 1.5 billion already announced previously promised to Pakistan for next five years.The each of the EU promised $ 640 over four years, while reports said Saudi Arabia has pledged U.S. $ 700 million over two years. Friends General of Pakistan has pledged 1.6 billion dollars in aid, helping Pakistan move forward on the path to self-sufficiency.
Remittances
Remittances from Pakistanis living abroad has played an important role in Pakistan's economy and foreign exchange reserves. Pakistanis settled in Western Europe and North America are major sources of funds to Pakistan. Since 1973, Pakistani workers to the Arab oil states are rich sources of billions of dollars of remittances.
The seven million strong Pakistani diaspora has contributed U.S. $ 8 dollars to the economy 2008. The main source of remittances to countries including Pakistan UAE, USA, Saudi Arabia, GCC countries (Bahrain, Kuwait, Qatar and Oman), Australia, Canada, Japan, UK and EU countries such as Norway, Switzerland, etc.
Research has shown that remittances IMF employees pay 4% of GDP in Pakistan and are the equivalent of about 22 percent of annual exports of goods and services.
Public finances
Summary of budget for
Fiscal Year: July 1 to June 30
Revenues: $ 19.8 billion
Expenses:
Debt – External: U.S. $ 39.94 billion (2005 est.)
Economic aid – recipient: $ 2 billion (FY97/98)
Taxes
This section needs attention an expert in the field. See talk page for details. Project: Economy or Economics Portal may be able to help to recruit an expert. (October 2009)
Pakistan has a low tax to a percentage of GDP, which tries to improve.
Spending
Expenditure public have $ 25000000000 (Est. 2006)
Sovereign bonds
Pakistan is expected to sell a dual-tranche sovereign bond of value of $ 750 million March 23, 2006, which analysts said should a home environment on the bond market. The stretch of 10 years would be 500 million dollars and the portion of 30 years 250 million dollars. The price is expected during the trading hours in New York March 23, 2006. The sources said the 10 years was be fixed at 7.125 percent, while the longest period of time should be sold around 7.875 percent, the upper end of the indicative range of 7.75 to 7.875 percent yield.
The obligations in Articles 10 and 30, generated 1.5 billion dollars of orders and total size of the extent of $ 1,250,000,000 had been expected that Pakistan would be others in the international debt market since 2004.
Government Pakistan has raised funds on the international debt market from time to time.
Details of the amount collected on various issues is as follows:
1999 – 623 millones dólares
2004 – Percentage of $ 500 million@6.75
2005 – 600 million in Islamic bonds in dollars
2007 – 750 $ Percentage Bonus million@6.875 penalty Euro, which are most subscribed
Income Distribution
Gini index: 41
Income or consumption by percentage:
The lowest 10%: 4.1%
more than 10%: 27.7% (1996)
The lowest 20%: 27.7% (2006)
See also
Ministry of Commerce (Pakistan)
List of tariffs in Pakistan
Ministry of Finance (Pakistan)
BOI Pakistan
Trading Corporation of Pakistan
Rice Exporters Association of Pakistan
Economy of the OIC
Further reading
Ahmad and Rashid Amjad Viqar. 1986. The management of the economy of Pakistan, 1947-1982. Karachi: Oxford University Press.
Ali, Imran. 1997. Telecommunications development in Pakistan, Noam EM (ed.), Telecommunications in Western Asia and Middle East. New York: Oxford University Press.
Ali, Imran. 2001a. the historical lines of poverty and social exclusion in Pakistan. Paper presented at the Conference of the Kingdom, society and nation in South Asia. National University of Singapore.
Ali, Imran. 2001b. BUSINESS and power in Pakistan, in AM Weiss and SZ Gilani (eds), Power and Civil Society in Pakistan. Karachi: Oxford University Press.
Ali, Imran. 2002. The past and present: the training state Pakistan, Imran Ali, Mumtaz S. And JL Racine (eds), Pakistan: The contours of the state and society. Karachi: Oxford University Press.
Ali, Imran, A. Hussain. 2002. Pakistan National Report on Human Development. Islamabad: UNDP.
Ali, Imran S. Mumtaz and JL Racine (eds). 2002. Pakistan: the contours of the state and society. Karachi: Oxford University Press.
Amjad, Rashid. 1982. The private industrial investment in Pakistan, 1960-1970. London: University Press Cambridge.
Andrus, JR and AF Mohammed. 1958. Pakistan economy. Stanford: Stanford University Press.
Barber, GN 1966. Punjab Alienation of Land Act 1900. Durham, NC: series at Duke University Southeast Asia.
Jahan, Rounaq. 1972. Pakistan: The failure of national integration. New York: Columbia University Press.
Kessinger, TG 1974. Vilyatpur, 1848-1968. Berkeley and Los Angeles: University of California Press.
Kochanek, SA 1983. Interest Groups and Development: Business and Politics Pakistan. University of New Delhi: Oxford Press.
LaPorte, Jr., Robert and MB Ahmad. 1989. Public Enterprises in Pakistan. Boulder, Colorado: Westview Press.
Latif SM 1892. Lahore. Lahore: New Imperial Press, reprinted 1981, Lahore: Sandhu Printers.
Low, DA (ed.). 1991. The political legacy of Pakistan. London Macmillan.
Noman, Omar. 1988. The Political Economy of Pakistan. London: KPI.
Papanek, GF 1967. Pakistan for development: social goals and incentives private. Cambridge, Massachusetts, Harvard University Press.
Raychaudhuri, Tapan and Irfan Habib (eds). 1982. Economic History of India Cambridge, 2 vols. Cambridge: Cambridge University Press
White, LJ 1974. Industrial concentration and economic power. Princeton, NJ: Princeton University Press.
Ziring, Lawrence. 1980. Pakistan: The Enigma of political development. Boulder, Colorado: Folkestone.
Ali, Imran. 1987. Growth in online? agricultural colonization and the roots of delay in the Punjab, Past and Present, 114
Ali, Imran. August 2002. The poverty line and the historical exclusion in Pakistan, South Asia, XXV (2).
Ali, Imran, S. Mumtaz. 2002. nderstanding Pakistanhe global impact, regional, national and local interactions, Imran Ali, Mumtaz S. And JL Racine (eds), Pakistan: the contours of the state and society. Karachi: Oxford University Press.
Hasan, Parvez. 1998. Economy Pakistan at the Crossroads: Policy past and current challenges. Karachi: Oxford University Press.
Hussain, Ishrat. 1999. Pakistan economy State elitist. Karachi: Oxford University Press.
Rafi Shahrukh Khan. 1999. Fifty years of Pakistan's economy: traditional themes and contemporary issues. Karachi: Oxford University Press.
Kibria Ghulam. 1999. Shattered Dream: Pakistan understand the development. Karachi: Oxford University Press.
Kukreja, Veena. 2003. Contemporary Pakistan: political processes, the conflicts and crises. New Delhi: Sage Publications.
Zaidi, S. Akbar. 1999. Problems in the economy of Pakistan. Karachi: Oxford University Press
References
^ ab "Pakistan." The World Factbook. CIA. https: / / www.cia.gov / library / publications / the … About the Author

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