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Economy of Pakistan

Economic History
First five decades
Pakistan is very poor and predominantly agricultural country when gained independence from Britain in 1947. Pakistan's average economic growth rate since independence has been higher than the average growth rate of the economy world during the period. Average annual real GDP growth rates were 6.8% in 1960 from 4.8% in the 1970s, and 6.5% in the decade 1980. Average annual growth fell to 4.6% in the 1990s with a significantly lower growth in the second half of the decade. See also
Industrial growth in the sector, including manufacturing, also above average. During the 1960s, Pakistan was seen as an economic development model worldwide, and there was much praise for its economic progress. Karachi was seen as an economic model around the world, and there was much praise for the way its economy was progressing. Many countries tried to emulate Pakistan strategy of economic planning and one of them, South Korea, copied from the city second "Year Plan" and World Financial Center in Seoul is designed and the model of Karachi. Later, economic mismanagement in general, and fiscally imprudent economic policies, particularly caused a large increase in public debt of the country and led to slower growth in the decade 1990. Two wars with India over Kashmir War of 1965 and Bangladesh Liberation War of 1971 and the separation of Bangladesh affected economic growth negatively. In particular, the war of the latter led to the economy close to recession, although economic output recovered strongly until the nationalizations of the 1970s. The economy recovered during the 1980s by a policy of deregulation as well as an influx of foreign aid and remittances from expatriate workers.
In recent decades
This is a trend graph of Pakistan's gross domestic product at market prices estimated International Monetary Fund with figures in millions of Pakistani rupees. See also
Year
Gross Domestic Product
U.S. dollar exchange
Inflation rate
(2000 = 100)
Per Capita
(In% 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 Pakistan rupees
30
2.07
1990
1029093
21.41 Pakistani rupees
41
1.92
1995
2268461
30.62 Pakistan rupees
68
2.16
2000
3826111
51.64 Pakistani rupees
100
1.54
2005
6581103
59.86 Pakistan rupees
126
1.71
Economic resilience
Growth rate of GDP 1951-2007
Background
Historically, Pakistan overall economic output (GDP) has grown every year since the recession of 1951. Despite this record of sustained growth, Pakistan's economy was, until recently, has been characterized as unstable and highly vulnerable to external and internal shocks. However, the economy turned out to be unexpectedly resilient against to multiple adverse events focused on a four-year (1998-2002) period
Asian financial crisis;
economic sanctions according to Colin Powell, Pakistan was "sanctioned in the eyes";
Global recession of 2001-2002;
severe drought worst in Pakistan's history, lasting about four years;
the perception of greater risk as a result of military tensions with India, with up to 1 million soldiers on the border, and predictions the impending (potentially nuclear) war;
post-9/11 military action in neighboring Afghanistan, with a massive influx of refugees from that country;
A Despite these adverse events, Pakistan's economy kept growing, and economic growth accelerated towards the end of this period. This resistance has led to a change in perceptions of the economy, with major international institutions like the IMF, the World Bank and the ADB praising Pakistan's performance in the face of adversity.
According to recent reports of resistance
further confirmation that the economy is not as sensitive as climate had been received comes from an analysis of 2008 that "68 countries examined, quantifying their sensitivity to fluctuations in weather, using figures on GDP by industrial sector and the sensitivity of certain sectors to weather variables. "The analysis found that of 68 countries, the country" least sensitive to climate was Pakistan. "
After the highly destructive earthquake in 2005, Pakistan's economy continued to expand, growing by more than 7 percent in the twelve months ending June 30, 2006.
Pakistan emerged as one of the best performers, following of the global financial crisis, while the country embarked on a costly war against the militants. Its national economy was driven by minimally affected and sector bank boasted surplus liquidity while remaining safe and sound. However, the impact was seen in export sectors strank as a result of lower demand external. ref> "Barclays sees tremendous 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. Retrieved on 15/09/2009. </ Ref>
Macroeconomic reform and prospects
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National Roads, Highways and Roads Strategic Pakistan.
According to various sources, the Pakistani government had made important economic reforms since 2000, and the medium-term prospects job creation and poverty reduction are the best in nearly a decade.
Government revenues have greatly improved in recent years as a result economic growth, tax reforms – with a broadening of the tax base, and more efficient tax collection as a result of self-assessment schemes and control of corruption in the Central Board of Revenue – and the privatization of public services and telecommunications. Pakistan is aggressively reducing tariffs and support exports by improving ports, roads, electricity supply and irrigation. Islamabad has doubled development expenditure of about 2% of GDP in the decade 1990 to 4% in 2003, a necessary step towards reversing the broad underdevelopment of its social sector.
The liberalization of international textile trade has already produced benefits for Pakistan's exports 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 textile manufacturer as the latter moves made by China in the value chain. These industries play Pakistan in relative strengths of low labor costs.
The increasing stability of the nation's monetary policy has contributed to a reduction interest rates in money market and a large expansion in credit amount, changing investment patterns of the nation. Pakistan domestic production of natural gas, and its significant use of CNG in automobiles, has cushioned the effect of oil price shock of 2004-2005. Pakistan also moving away from the doctrine of import substitution, which some developing countries (like Iran) dogmatically pursued the twentieth century. The Pakistani government is now pursuing an export-led model of economic growth successfully implemented by the Southeast Asia and now highly successful in China.
In 2005, the World Bank reported that
"Pakistan was the top reformer in the region and the number 10 reformer globally and it is easier start a business, reducing the cost to register property, increasing penalties for violating corporate governance rules, and the replacement of a license requirement for each consignment with two-year licenses for traders. "
Doing Business
The World Bank (WB) and the flagship of the International Finance Corporation grab Doing Business 2010 report ranked among the 85 Pakistan 181 countries worldwide. Pakistan reached the highest in South Asia, but also a higher value China, Russia and India, which is 133. The top five countries are Zealand, Singapore, New, United States, Hong Kong and the UK.
The Government of Pakistan formed in recent years, granted numerous incentives to technology companies wishing to do business in Pakistan. A combination of more tax holiday decade, zero duties on computer imports, government incentives for venture capital, with a variety of programs to subsidize technical education, aim to provide impetus to the nascent industry Information Technology. This in recent years has led to impressive growth in this sector.
The today's economy
Due to inflation and the global economic crisis, the economy of Pakistan come to a state of balance of payments crisis. "The Fund International Monetary bailed out Pakistan in November 2008 to avoid a balance of payments crisis in July last year increased to 11.3 billion loan dollars from an initial $ 7.6 billion. "
In October 2007, Pakistan's reserves raised a handsome $ 16,400,000,000. policies Pakistan maintains exceptional controlled trade deficit at $ 13 billion, exports grew at 18 billion U.S. dollars, revenue generation increased to become 13 billion U.S. dollars and attracted foreign investment of $ 8.4 billion.
Since early 2008, Pakistan's economic prospects has taken the deadlock. Security concerns generated by the function of the nation in the war on terror has created great instability and led to a decrease of FDI from a height of approximately $ 8 billion to $ 3.5bn for the current fiscal year. At the same time, the insurgency has forced massive capital flight from Pakistan to the Gulf. Along with high global commodity prices, the combined impact has shocked Pakistan's economy, with rising trade deficits, high inflation and a crash in the value of the rupee, which has fallen from 60 up to $ 1 more than 80-1 of dollars in a few months. For the first time in years, which could having to seek outside financing in the balance of payments. Therefore, S & P rating lowered Pakistan foreign currency debt to CCC-plus from B, just several notches above a level that indicates the default. Pakistan credit rating in local currency dropped to less than B-BB. Credit agency Moody's Investors Service cut your outlook on Pakistan's debt from stable to negative due to political uncertainty, although it maintained the status of country at a cost protection B2.The a flaw in Pakistan's trade sovereign debt to 1,800 basis points, according to its five-year credit default swap, a level that indicates the investors believe the country is already in or will soon be in default.
The average however may be less turbulent, depending on the political environment. The EIU estimates that inflation should fall back to single digits in 2010 and that growth should pick up more than 5% annually in 2011. Although less than half the previous year 5 to 7%, would represent an improvement of the current crisis where the growth is a mere 3.5-4%.
Economic Comparison of Pakistan 1999-2008
A IIChundrigar View Road, the business district of Karachi in Pakistan
Mainstay of the economy – By region, Source:
Indicator
1 999
2007
2008
2009
GDP
$ 75 billion
$ 160,000,000,000
$ 168,000,000,000
$ 185,000,000,000
GDP purchasing power parity (PPP)
$ 245,000,000,000
$ 445,500,000,000
$ 445,000,000,000
$ 545,600,000,000
GDP per capita
$ 450
$ 925
$ 1,085
$ 1250
Revenue collection
Rs. 305 000 000 000
Rs. 708 000 000 000
Rs. 990 000 000 000
Rs. 1.05 trillion
Reservations international
$ 700,000,000
$ 16.4 billion
$ 10,000,000,000
$ 14,000,000,000
Exports
7500 million dollars
$ 18,500,000,000
$ 19,220,000,000
$ 18.45 billion
Textile exports
5.5 billion U.S. dollars
$ 11,200,000,000
–
–
KHI stock exchange (100-Index)
$ 5 billion at 700 points
$ 75,000,000,000 14,000 points
56 billion U.S. dollars in 9000 points
Foreign Direct Investment
$ 1,000,000,000
$ 8.4 billion
5190 million dollars
$ 4,600,000,000
Debt service
65% of GDP
For 26% of GDP
–
–
Poverty Level
34%
24%
–
–
Literacy rate
45%
53%
–
–
Development programs
Rs. 80 billion
Rs. 520 000 000 000
Rs. 549 700 000 000
Rs. 880 000 000 000
Economic comparison 1999-2008
Stock market
Main article: Karachi Stock Exchange
In the first four years in the XXI century, Pakistan's KSE 100 stock market index of best performing index in the world as declared by the magazine BUSINESS International Week. [Citation needed] The market capitalization of listed companies in Pakistan was valued at $ 5,937 million in 2005 by the World Bank. . But in 2008, after the general election, the uncertain political environment, the growing militancy along the western borders of the country, and growing inflation and current account deficits led to the sharp decline in the Karachi Stock Exchange. As a result, the business sector in Pakistan has declined dramatically in importance in recent times.
Manufacturing and finance
Pakistan manufacturing sector has experienced double-digit growth in recent years, from 2000 until 2007, with the large-scale manufacturing increased at least 1.5% by 1999 to a record 19.9% in 2004-05 and averaged 8.8% in late 2007. .
The Federal Statistical Office appreciates the financial and insurance sector at Rs.311, 741 million in 2005 thus registering over 166% growth since 2000. A reduction in the fiscal deficit has resulted in lower government borrowing in the domestic money market, lower interest rates and an expansion in private sector lending businesses and consumers.
The growing middle class
Measured by purchasing power, Pakistan is 30 million strong middle class, according to Dr. Ishrat Husain, Ex-governor (2 December 1999-1 December 2005), State Bank of Pakistan. It is a figure which correlates with research by Standard Chartered Bank, which estimates Pakistan has an "a middle class of 30 million people that Standard Chartered estimates now earn an average of about $ 10,000 per year." The latest Middle-class figures offered Pakistan to 35 million members. In addition, Pakistan has a growing middle class and upper estimated at 6.8 million in 2002 and is projected to grow to 17 million people by 2010, with a high income per capita.
On measures of income inequality, the country is a little better than the median. End 2006 the Central Board of Revenue estimated that there were almost 2.8 million income taxpayers in this country.
Poverty levels have decreased by 10% since 2001 foreign companies that establish Pakistani middle classes have been very successful. For example, demand for Unilever products have recently been so high that even after double production of the Anglo-Dutch company struggled to meet demand and is President said "Pakistan may seem to have enough."
Poverty reduction expenditure
Main article: Poverty in Pakistan
Poverty in Pakistan
Pakistan's government spent over 1 trillion rupees (about 16.7 billion U.S. dollars) on programs to alleviate poverty over the past four years, reducing poverty from 35 percent in 2000-01 to 24 percent in 2006. Rural poverty remains a pressing problem, as the development has been slower than in large urban areas.
Demography
Article Home: Demographics of Pakistan
With a GNP per capita of more than $ 3,000 (PPP, 2006) compared to $ 2,600 (PPP, 2005), in 2005, the World Bank considered to Pakistan a middle income country, also is registered as a "medium development country" in the 2007 Human Development Index. Pakistan has a large informal economy, the government is trying to document and evaluate. Approximately 49% of adults are literate and life expectancy is around 64. The population, about 168 million in 2007, is growing at around 1.80%.
Relatively few resources in the past had been devoted to developing socio-economic or infrastructure. Inadequate provision of social services, high birth rates and immigration from neighboring countries in the past have contributed to the persistence of poverty. A recent study concluded that influence fertility rate peaked in the 1980s, and has since fallen sharply. Pakistan has a Gini index of 41 household income, near the world average of 39.
Employment
High population growth in recent decades has ensured that a significant number of young people are entering the job market. Despite being one of the seven most populous nations of Asia, Pakistan has a population density less than Bangladesh, Japan, India and the Philippines. In the past, excessive bureaucracy came to termination of employment, recruitment and, therefore, difficult. The significant improvements in tax and business reforms have ensured that many companies no longer are required to operate in the informal economy.
In late 2006, the government launched an ambitious national plan for employment services to pay almost $ 2 billion over five years.
Tourism
Main article: Tourism in Pakistan
Pakistan Tourism is a growth industry. Major attractions include ruins of the civilization of the Indus Valley and the ski resorts in the Himalayas. Himalayas and Karakorum (including K2, the second highest mountain peak in the world, it attracts adventurers and mountaineers from around the world. Karachi and Lahore are the main authentic attractions of the Pakistani food and culture.
Income
The Board of Revenue has collected nearly a billion rupees (14.1 billion U.S. dollars) in taxes in the 2007-2008 financial year.
Currency System
Main article: Pakistani rupee
The ticket of Rs 500
Rupee
The Pakistani rupee was pegged the U.S. dollar until 1982. If the government of General Zia-ul-Haq, changed to a managed float. This has been regarded as the best decision Zia. As a result, the rupee depreciated by 38.5% between 1982/83 and 1987/88 and the anti-export bias of the economy declined. The basic unit of currency is the Rupee, PKR and abbreviated ISO Code R, which is divided into 100 paisas. Currently, the newly printed 5,000 rupees note is the largest denomination in circulation. Recently, PAS has entered all the notes again Design Rs. 5, 10, 20, 50, 100, 500, 1000, 5000 and heading, while design work of Rs.10, 000 note is going to help industry bank in the maintenance of a few notes in savings accounts. The new notes have been designed using the technology of the euro and made in bright colors bright and bold stylish designs.
Dollar rupee exchange rate
Foreign exchange rate
1 Pakistani rupee (PKR) = 100 paisa
The Pakistani rupee depreciated against U.S. dollar until the turn of the century, when Pakistan's large current-account surplus pushed the value of the rupee against the dollar up. Bank Pakistan's Central stabilized by lowering interest rates and buying dollars in order to preserve 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
1 999
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
60.50 PKR
2008
October 10
PKR 80.00
April 1
PKR 63.50
Source: PKR exchange rates in dollars, PAS
Foreign exchange reserves
In October 2007, at the end of the first mandate Minister Shaukat Aziz, Pakistan presented their foreign exchange reserves at 16.4 billion U.S. dollars. Pakistan's trade deficit was at $ 13 billion, exports increased to U.S. $ 18 billion, generating income increased to become 13 billion U.S. dollars and the country attracted foreign investment of $ 8.4 billion.
October 11, 2008 The State Bank of Pakistan reported that the country's international reserves had fallen exchange for $ 571.9 million to $ 7,749.7 million. Foreign exchange reserves had fallen by more than $ 10 billion at alarming rates of $ 6,590,000,000.
Structure of the Economy
The economy of the Islamic Republic of Pakistan is suffering with high rates of inflation well above 26%. More than 1081 patent applications were filed by non-resident Pakistanis in 2004 reveals a new confidence. Agriculture represented about 53% of GDP in 1947. While agricultural production per capita has grown since then, it has been outpaced by the growth of the 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 in industries (eg clothing, textiles and cement) and services (such as telecommunications, transport, advertising, and finances).
Sectoral contribution GDP growth
Most of the recent acceleration in GDP growth has come from industrial and service sectors.
GDP growth by sector as a percentage of GDP
Sector
2001-2002
2002-2003
2003-04
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: Economic Survey of Pakistan 2005
Production structure
Share of various sectors in GDP
Sector
2000-2001
2001-2002
2002-2003
2003-2004
2004-05
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. Power 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. Housing Ownership
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: GDP is estimated at constant factor cost. Figures are in percentage.
Source: Economic Survey of Pakistan 2005
Sectors
Agriculture
Main article: Agriculture in Pakistan
Agriculture by Province
Mango Orchard in Multan, Pakistan
Pakistan one of the largest world producers and suppliers of the following according to the Agriculture and Food 2005, the Organization of the United Nations FAOSTAT given here classification:
Chickpea (2nd)
Apricot (4th)
Cotton (4th)
Sugar cane (4th)
Milk (5 ª)
Onion (5th)
The date palm (6th)
Mango (3rd)
Mandarins, mandarin, clementine (8th)
Rice (8th)
Wheat (9th)
Oranges (10th)
Pakistan ranks fifth in the Muslim world and XX worldwide in agricultural production. It is the fifth largest producer of milk.
the main natural resources of Pakistan are arable land and water. About 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 acres than Russia. Agriculture accounts for about 23% of GDP and employs to about 44% of the workforce. Zarai Taraqiati Bank Limited is the largest financial institution geared towards agricultural development by providing financial services and technical know how.
Industry
Main article: Industry of Pakistan
Production by Province
two companies Pakistan's leaders, according to Forbes Global 2000 ranking of 2005.
Global
ranking
Company name
1 284
Oil & Gas Development
1316
PTCL
Forbes Global 2000
Pakistan occupies the forty-first in the world and around the world fifty-fifth production factory.
industrial sector accounts for nearly Pakistan 24% of GDP. Cotton textile production and garment manufacturing industries are Pakistan's largest, representing about 66% of exports of goods and almost 40% of the employed workforce. Other important industries are cement, fertilizer, edible oil, sugar, steel, snuff, chemicals, machinery and food processing.
The government is privatizing units large-scale parastatals and the public sector represents a shrinking proportion of industrial production, while the growth of global industrial production (Including private sector) has accelerated. Government policies aim to diversify the country's industrial base and promote export industries.
Industries: textiles (8.5% of GDP), fertilizer, cement industry, oil refineries, dairy, food processing, beverages, construction materials, clothing, paper products, shrimp
Industrial production growth rate: 6% (2005)
The large-scale production growth rate: % 19.9 (2005)
Automotive industry
Pakistan is a new market for cars and car parts offers immense business and investment opportunities. The total contribution of the automotive industry and the GDP in 2007 is 2.8%, which is likely to increase to 5.6% over the next five years. automobile sector in the currently contributes 16% of the industrial sector is also expected to increase 25% over the next seven years.
CNG industry
Since 2009, Pakistan is one of the largest users of CNG (compressed natural gas) in the world. Currently, more than 2,900 CNG stations are operating in the country in 85 cities and towns, and 1000 more will be created in the next three years. It has provided employment to more than 50,000 people in Pakistan.
The cement industry
In 1947, Pakistan had inherited four cement plants with total capacity of 0.5 million tonnes. Some expansion occurred in 195 666, but could not keep pace with the development economic development and the country had to rely on imports of cement in 1976-77 and continued to do so until 1994-95. The cement industry is composed of 27 plants contributing over Rs 30 billion national treasure in the form of taxes.
IT Industry
Pakistan IT industry has grown steadily since the late three years. A sharp increase in software export figures are an indication of the potential of the booming industry. The total number of IT companies increased until 1306 and the estimated size of the IT industry is $ 2.8 billion. In 2007, Pakistan was first featured in Global Services Location Index AT Kearney and was ranked as the best location for the relocation 30th By 2009, Pakistan has improved its ranking for ten places to get to 20.
Textiles
The Textile Industry is dominated by Punjab. For example, only 1.5 million people of NWFP are used in industry. 3% of the United States on imports apparel and textiles otherwise covered by Pakistan. Textile exports in 1999 were $ 5,200,000,000 and went on to convert $ 10 500 million in 2007. Textile exports was an increase in a very decent growth of 16% in 2006. In the period July 2007 June 2008, U.S. textile exports were $ 10,620,000,000. Textile exports share in total exports of Pakistan has decreased from 67% in 1997 to 55% in 2008 as exports other non-textile sectors grew.
Mining
Pakistan is endowed with significant mineral resources and emerging in a promising area for exploration / Exploration of mineral deposits. Based on available information, the country more than 6,00,000 km of outcrops of the area shows several geological potential deposits of metallic and nonmetallic minerals. Excluding oil, gas and minerals regulated at the federal Nuclear, 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 application regulatory regime. According to the constitutional framework of the federal and provincial governments have jointly established Pakistan first National Mineral Policy in 1995, properly implemented by the provinces, providing the appropriate institutional and regulatory framework, fair and internationally competitive tax regimes.
In the recent past, the exploration of government agencies and by multinational mining companies ample evidence of the occurrences of mineral deposits considerable size. Recent discoveries of a thick oxidized zone underlain by zones of sulphides in the area of arms of the province of Punjab, covered in a thick alluvium have opened new perspectives for exploration of metallic minerals. Pakistan is a large base of industrial minerals. The discovery of deposits coal with more than 175 billion tons of reserves at Thar in Sindh province has given impetus to its development as an alternative source of energy. There is great potential for precious stones and dimension.
Applying Mineral Policy (1995) has paved the way for business expansion in the mining sector and attracting investment international sector. International mining companies have responded favorably to the NMP and now at least four are dedicated to mining development projects.
Nowadays about 52 minerals are in operation, although on a small scale. The higher production is coal, rock salt and other mineral and industrial construction. The current contribution of mining to GDB is about 0.5% and is likely to increase considerably in the development and commercial exploitation of Saindak and Reco Diq copper and gold deposits (largest gold mine in the world), Dudda zinc and lead deposits of Thar coal and precious stones.
Services
Service Sector by province
Pakistani accounts of the services sector by about 53.3% of GDP. Transport, storage, communications, finance and insurance account for 24% of this sector, and wholesale and retail trade 30%. Pakistan is trying to promote the information industry and other modern service industries through incentives such as long-term tax exemptions.
The government is acutely aware of the huge job growth opportunities in the services sector and has launched the privatization aggressive telecommunications, utilities and banking despite the labor unrest. [Citation needed]
Communication
A one-stop PTCL Islamabad
Pakistan Telecommunications Company Ltd has become a success Forbes 2000 U.S. conglomerate with more than $ 1 billion in sales in 2005. The mobile phone market has soared fourteen-fold since 2000 to reach a subscriber base from 91 million users in 2008, one of the highest telephone densities phones in the world .. In addition, more than 6 million fixed lines in the country with 100% fiber optic network and coverage through WLL, including remote areas .. As a result, Pakistan won the prestigious Government Leadership of the GSM Association in 2006 ..
The sector's contribution telecommunications for the benefit of the national treasury increased to Rs 110 billion in the year 2007-08 on account of general sales taxes, activation fees and other measures compared to Rs 100 billion in 2006-07.
The World Bank estimates that it takes about three days just to make a phone connection in 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 (Father: Abu Dhabi Group / SingTel, United Arab Emirates / Singapore)
Zong (Father: China Mobile, China)
In March 2009, Pakistan had 91 million mobile subscribers – 25 million more subscribers than those reported in the same period 2008. Addition of 3.1 million fixed lines, while up to 2.4 million are using wireless local loop connections. Sony Ericsson, Nokia and Motorola, Samsung and LG together with the marks remain popular with customers.
Pakistan is on the verge of a telecommunications revolution quotes [edit] and is by far the most attractive sector in Pakistan in terms of Foreign Direct Investment into the country. Since the liberalization over the past four years, the telecommunications sector in Pakistan has attracted more than 9 billion U.S. dollars in foreign investment. During 2007-08, the Pakistani media sector received only 1.62 billion U.S. dollars in foreign direct investment (FDI) around 30% of the country's total foreign direct investment.
Present growth of the state of the art infrastructure in the telecommunications sector over the past four years has been the result of the vision of the PTA and the application deregulation policy. Paging and mobile (cellular) phones were adopted early and freely. Cell phones and the Internet were adopted for the good of laissez-faire with a proliferation of private service providers that led to rapid adoption. With a rapid increase in Internet users and the ISP, and a large English speaking population, Pakistani society has seen an unprecedented revolution in communications.
According to the World PC, a total of 6.37 billion text messages were sent through Acision's messaging systems across Asia Pacific on Christmas Day and the Year 2008/2009 New. Pakistan is among the five Ranker with a higher traffic with 763 million SMS messages.
Pakistan ranks fourth in terms of Internet growth broadband in the world, as the subscriber base of broadband Internet has been increasing rapidly. The classifications are released by Point Topic Overview band broad, global research center.
Pakistan has more than 17 million Internet users in 2009. The country is said that have a potential to absorb up 50 million users of mobile Internet phone in the next 5 years, therefore, a potential of nearly 1 million connections per month.
Almost all major government departments, organizations and institutions have their own websites.
The use of search engines and instant messaging services is also booming. The Pakistanis are some of the most ardent Internet chat, communication with users all over the world. Recent years have seen an enormous increase in use online services of marriage, for example, leading to a reworking of the alignment of the tradition of arranged marriages.
Since 2007 there six cellular phone companies operating in the country with nearly 90 million mobile phone users in the country.
Wireless local loop and industry fixed telephony has also been liberalized and the private sector has entered thus increasing the teledensity rate. In mid-2008, installed capacity reached local loop, around 5.5 million.
telecommunications industry created 80,000 direct jobs and 500,000 indirect jobs.
The Federal Bureau of Statistics valued Rs.982 provisionally this sector, 353 million in 2005 thus registering over 91% growth since 2000.
Railways
Main article: Pakistan Railways
A massive rehabilitation plan worth one billion U.S. dollars over five years for Pakistan Railways has been announced by the government in 2005. A test a new rail link has been established since Islamabad-Pakistan through Iran via Teharan-Istanbul-Turkey. Moreover, it would promote trade, tourism, and also serve as an effective link for exports to Europe (as part of Europe and Turkey] Asia.
Aviation
See also: List of companies Pakistan Airlines
A PIA B747-367 in the domestic satellite Jinnah International Airport
Pakistan International Airlines, the flag carrier of Pakistan civil aviation industry has turnover of over $ 1 billion in 2005. The government announced a new shipping policy in 2006 that banks and financial institutions to vessels of the mortgage.
Private sector in Pakistan airlines Airblue and Shaheen include international air. Many lines Private carriers are preparing Mashreq including Air, Air Dewan, and air of Pearls.
Airblue is using the state of the art Airbus A320 and A321 for fly into the country, the United Arab Emirates, Oman and the United Kingdom and Norway will soon begin, Kuwait, Malaysia and India operations. Airblue recently an order for six A321 aircraft factory fresh, while two dry leased aircraft will also soon be added to the current fleet of five, making it the largest fleet second largest behind the PIA, which has 42 aircraft.
Wholesale and retail
The Federal Bureau of Statistics provisionally valued this sector Rs.1, 358.309 million in 2005 thus registering over 96% growth since 2000.
Finance and insurance
See also: List of Banks in Pakistan
A reduction in the fiscal deficit has resulted in less government borrowing in the domestic money market, lower interest rates and an expansion in loans to private sector businesses and consumers. Foreign exchange reserves continued to reach new levels in 2007, supported by growth in exports and steady worker remittances.
Pakistan has been ranked 34 out of 52 countries in the first World Economic Forum, Financial Development Report, which was launched in Pakistan through Competitiveness Support Fund (CSF) of December 2008. Under factors, policies and institutions pillar, Pakistan ranks 49th in the institutional environment, 50th in the business environment and 37 on financial stability. In the pillar of financial intermediation in banks Pakistan ranks 25th, 42nd in the 17 banks and financial markets. Capital Availability and access, Pakistan ranks 33rd.
Pakistan banking industry has remained very strong and resilient during the global financial crisis in 200 809, a feature that has attracted a significant amount of FDI in the sector. Stress tests conducted in June 2008, the data indicate that large banks are relatively robust, with the environment and positioning small banks themselves in niche markets. The banking industry became profitable in 2002. Your earnings continued to rise over the next five years and peaked at 84.1 rupees (1.1 million) million in 2006.
The credit card market continued its strong growth with sales crossing 1 million mark in mid-2005. Since 2000, Pakistani banks have begun aggressive marketing of consumer loans to the emerging middle class, allowing a consumption boom (more than seven months waiting list for certain car models) and a construction boom.
The Federal Office Statistics provisionally valued this sector at Rs.311, 741 million in 2005 thus registering over 166% growth since 2000.
Homeownership
The sector Real estate has grown from twenty three since 2001, particularly 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 has to be increased to 0.5 million units per year to deal with 6.1 million outstanding housing in Pakistan to cover the housing deficit in the next 20 years. The report said the current housing stock is also aging rapidly, and one estimate suggests that more than 50 percent of the shares has more than 50 years of age. It is also estimated that 50 percent of the urban population lives in slums and squatter settlements. The Meeting report said the backlog in housing, in addition to replacing housing units out of time, is beyond the resources government finance. This requires putting in place a framework to facilitate financing in the private formal sector and to mobilize resources for a non-government financing system of market-based housing.
The Federal Bureau of Statistics provisionally valued this sector at Rs.185, 376 million in 2005 thus registering over 49% of growth since 2000.
Public administration and defense
The Federal Bureau of Statistics provisionally valued this sector at Rs.389, 545 million in 2005 thus registering over 65% growth since 2000.
Social, community and personal services
The Federal Bureau of Statistics provisionally valued that sector to Rs.631, 229 million in 2005 thus registering over 78% growth since 2000.
Electricity
Main article: Electricity Sector in Pakistan
For years, the issue of Pakistan's balance supply against demand for electricity has remained largely an unresolved issue. Pakistan faces a major challenge in modernizing its network responsible for the supply of electricity. While the government claims credit for overseeing a turnaround of the economy through a full recovery, which just failed to supervise a similar improvement in the quality of electricity supply network. [Citation needed] Officials even going so far as to state that frequent power cuts across Pakistan today are indicative of an emerging prosperity, as it is rapidly increasing demand for electricity. And yet, the failure of demand is indeed indicative of a challenge to the very prosperity. [Citation needed] This is despite Pakistan have enormous potential to generate wind power. Apart from this, most cities of Pakistan receives substantial sunlight throughout the year, would suggest good conditions for investment in solar energy.
Recently, the Minister of Water and Power Development, Raja Pervez Ashraf has said that load-shedding will end in December 2009 by using rental power generation units and make the country self-sufficient 2011. [The critics who?] Argue that it is too optimistic.
foreign trade, remittances, aid and investment
Investment
The Foreign direct investment (FDI) in Pakistan soared by 180.6 percent year on year to U.S. $ 2,220,000,000 and portfolio investment by 276 percent to $ 407,400,000 during the first nine months of fiscal 2006, the State Bank of Pakistan (SBP) reported on 24 April. During July-March 2005-06 years annual FDI increased to $ 2,224,000,000 from only $ 792,600,000 and portfolio investment of $ 407,400,000 while $ 108,100,000 was in the corresponding period last year, according to latest statistics released by the State Bank. Pakistan has foreign direct investment almost $ 8.4 billion in the year 06/07, surpassing the government target of $ 4 billion.
Pakistan is now the country most favorable to investment in South Asia. Business regulations have been drastically cut along liberal lines, especially since 1999. Most of the barriers to capital flows and investment International Direct have been removed. Foreign investors face no restrictions on capital inflows, and investment of up to 100% participation in capital is allowed in most sectors. Unlimited remittance of profits, dividends, fees for services or capital is now the rule. trade regulations are now among the most liberal in the region. This was easily confirmed by the World Bank's Doing Business Index report published in September 2009, the ranking of Pakistan (on 85th) well ahead of neighboring countries such as China (89th) and India (at 133a).
Pakistan is attracting a growing number of private equity and was ranked as number 20 in the world based on the amount of private equity into the country. Pakistan has been able to attract a large number of private equity investments at because of global economic reforms started in 2003 that provided foreign investors with greater guarantees for the stability of the nation and its ability to repatriate funds invested in the future.
Tariffs have been reduced to an average rate of 16% with a maximum of 25% (except automobile industry). The privatization process that began in the 1990s, has gained momentum, with most of the privately owned banking system and the oil sector are the target of the next largest privatization operation.
Recent improvements in the economy and business environment have been recognized by international rating agencies like Moody and Standard and Poor's (country risk upgrade in late 2003).
Foreign acquisitions and mergers
With the rapid growth of the economy Pakistan, foreign investors are taking a great interest in the business sector of Pakistan. In recent years, a majority of shares in many companies have been acquired by multinational groups.
PICIC Singapore's Temasek Holdings for $ 339,000,000
Union Bank by Standard Chartered Bank 487 million U.S. dollars
First Commercial Bank by ABN Amro 228,000,000 U.S. dollars
Paktel to China Mobile for $ 460,000,000
Etisalat PTCL for $ 1.8 billion U.S. dollars
Additional shares for 57.6% of Lakson Tobacco Company acquired by Philip Morris International for $ 382 million
Foreign exchange earnings from sales also are helping to cover the current account deficit.
external trade
Pakistani exports in 2005
Pakistan is a member of the Organization World Trade and is bilateral and multilateral trade 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 in the trade deficit of Pakistan.
In the six months to December 2003, Pakistan recorded a current account surplus of $ 1,761,000,000, about 5% of GDP. Pakistan's exports continue to be dominated by textiles and garments of cotton, despite government efforts to diversify. Exports rose by 19,1% in the year fiscal 2002-03. main imports are petroleum and petroleum products, edible oil, chemicals, fertilizers, capital goods, industrial raw materials and consumer products.
Past external imbalances left Pakistan with a foreign debt burden of large size. principal and interest payments in fiscal year 1998-99 amounted to $ 2.6 billion, more than double the amount paid in FY 1989-90. annual debt service peaked at more than 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 improvements in Pakistan's credit rating. Along with lower interest rates world, these factors have enabled Pakistan to prepay, refinance and reschedule its debts as they please. Although the 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 loans and grants from international financial institutions (eg IMF, World Bank and Asian Development Bank) and bilateral donors. Increasingly, the composition of assistance to Pakistan moved away from grants to loans repayable in foreign currency. All new economic assistance U.S. to Pakistan was suspended the sanctions after October 1990, and additional were imposed after May 1998 Pakistan tested nuclear weapons. Sanctions were lifted by President George W. Bush after Pakistani President Musharraf allied Pakistan with the U.S. in its war against terror. Having improved its finances, the government refused a new IMF aid, and consequently the IMF program was over. The government is also reducing tariff barriers of bilateral and multilateral.
While the country has a current account surplus and imports and exports have grown rapidly in recent , still has a large deficit in goods trade. The budget deficit in fiscal year 2004-2005 was 3.4% of GDP. The budget deficit in fiscal year 2005-06 is expected to exceed 4% of GDP. Economists believe that the growing trade deficit would have an adverse impact on Pakistani rupee depreciation of its value against the dollar (U.S. $ 1 = 60 rupees (03 2006)) and other currencies.
One of the main reasons contributing to the increase of trade deficit increased imports of earthquake relief related items, especially tents, tarpaulins and plastic sheeting to provide temporary shelter survivors of the earthquake on 8 October 2005 in Azad Jammu and Kashmir and parts of NWFP, an official said. The increase in the trade gap was driven also by high oil import prices, food, machinery and automobiles.
The Oil Ministry says that this year the bill of imports oil is expected to reach 6.5 billion U.S. dollars against 4.6 billion U.S. dollars in the last fiscal year, which is the main reason behind the deficit record business.
The EU is the largest trading partner of Pakistan, which absorbs more than a third of exports in 2003.
Exports
Pakistan produces export quality footballs
Pakistan's exports increased by over 100% from $ 7.5 billion in 1999 to about 18 billion dollars in fiscal year 2007-2008.
Pakistan exports rice, furniture, cotton fiber, cement, tiles, marble, textiles, clothing, leather goods, sports articles (known for balls / soccer balls), surgical instruments, electrical appliances, software, carpets and rugs, ice cream, livestock meat, chicken, powdered milk, wheat, seafood (especially shrimp / prawns), vegetables, processed foods, Pakistan Suzuki mounted (to Afghanistan and other countries), the defense team (submarines, tanks, radars), salt, marble, onyx, engineering products, and many other items. Pakistan now being very well recognized by producers and exporters of cement in Asia and the Middle East. In August 2007, Pakistan has begun to export cement to India to complete there shortages caused by the construction boom.
Imports
Pakistan imports stood at 30.54 billion U.S. dollars in the year 2006-2007, an increase of 8.22 per cent of imports last year to 28.58 billion U.S. dollars.
Pakistan single largest category of imported oil and petroleum products. Other imports include industrial machinery, construction machinery, trucks, autos, computers, computer parts, medicines, pharmaceuticals, food, civil aircraft, defense equipment, iron, steel, toys, electronics and other consumer goods.
The sales tax is levied 15 percent on both imports and domestic production. The income withholding tax is levied at 6 per cent of imports and 3.5 percent in sales of national taxpayers.
External imbalances
Pakistan experienced a merchandise trade deficit of 13.528 one billion U.S. dollars for the year 2006-7. The gap has widened considerably since 2002-3, when the deficit was only $ 1,060,000,000. Deficit Services sector for 2006-2007 was $ 4,125,000,000 equivalent to the export of services of $ 4,125,000,000 for the same year.
The deficit combination of services and goods placed in 17.653 billion U.S. dollars which is about 83.5 percent of total exports of $ 21,136 (goods and services). The increase in the trade gap has been attributed to the high oil import bill, rising food prices, machinery and automobiles.
Deficit Current account – current account deficit for 2006-7 reached 7.016 billion U.S. dollars by 41 percent over the previous year $ 4,490 million.
From early 2008, the economic prospects of Pakistan has taken a dramatic decline. Security problems arising from the role of the nation in the war against terrorism have created great instability and led to a decline in FDI from a height of approximately $ 8 million to $ 3.5bn for the current fiscal year. At the same time the insurgency has forced massive capital flight from Pakistan to the Gulf. Combined with high global commodity prices, the double impact to the economy has shaken Pakistan, with growing trade deficits, high inflation and a drop in the value of the rupee, which has fallen from 60 to 1 USD to more than U.S. $ 80-1 within months. For the first time in years, you may need to seek outside financing in the balance of payments. Therefore, S & P lowered Pakistan foreign currency debt rating to CCC-plus from B, just several notches above a level that indicates the default. Pakistan credit rating in local currency dropped to less than B-BB. Credit Moody Investors Service cut its outlook on Pakistan's debt from stable to negative due to political uncertainty, although it maintained the status of country B2.The at a cost of protection against sovereign debt default Pakistan quoted at 1,800 basis points, according to its five-year credit default swap, level that indicates investors believe the country is already or soon will be in default.
The center term, however, may be less turbulent, depending political environment. The EIU believes that inflation should fall back to single digits in 2010 and that growth should pick up more than 5% year 2011. Although less than the previous year's average of 5 to 7%, would represent an improvement of the current crisis where the growth is a mere 3.5-4%.
Help economic
Pakistan receives economic aid from several sources as loans and grants. The International Monetary Fund (IMF), World Bank (WB), ADB Development Bank (ADB), etc provides long-term loans to Pakistan. Pakistan also receives bilateral aid from developed countries rich in oil.
The Asian Development Bank will provide about six billion U.S. dollars of development aid to Pakistan during 2006-9. The World Bank announced a program loan of up to 6.5 billion U.S. dollars to Pakistan under a new contract for four years, 2006-2009, the assistance strategy that shows a significant increase of funding mainly for meat infrastructure. Japan will provide $ 500,000,000 in annual economic aid to Pakistan. In November 2008, International Monetary Fund (IMF) has approved a loan of 7.6 billion dollars to Pakistan to help stabilize and rebuild the economy the country. Most recently, the Govt of Pakistan received U.S. economic aid $ 5 billion U.S. dollars, of which the U.S. garment U.S. $ 1BN was described as a down payment on the $ 1.5 billion already promised to Pakistan previously announced for each of the next five years.The European Union pledged $ 640 more than four years, while reports said Saudi Arabia has pledged $ 700 million over two years. Friends General of Pakistan had pledged $ 1.6 billion in payments, which should help Pakistan move forward on the path to self-sufficiency.
Remittances
Remittances from Pakistanis living abroad has played an important role in the economy of Pakistan and foreign exchange reserves. The Pakistanis were established in western Europe and North America are important sources of remittances to Pakistan. Since 1973 Pakistani workers in the oil-rich Arab states have been sources of billions of dollars of remittances.
The seven million strong Pakistani diaspora, contributed U.S. $ 8 million to the economy in 2008. The main source of remittances to countries including Pakistan United Arab Emirates, USA, Saudi Arabia, GCC countries (Bahrain, Kuwait, Qatar and Oman), Australia, Canada, Japan, United Kingdom and countries EU, like Norway, Switzerland, etc.
An IMF research revealed that workers' remittances contribute 4% of GDP in Pakistan and are equivalent to about 22 per cent of annual exports of goods and services.
Public finances
fiscal budget summary
Fiscal year: July 1 to June 30
Revenue: $ 19,800,000,000
Expenditure:
Debt – external: 39.94 billion U.S. dollars (2005 est.)
Economic aid – recipient: $ 2 billion (FY97/98)
Revenue and Taxation
This section needs attention from an expert on the subject. See the discussion page for more details. WikiProject Economics or the Economics Portal may be able to help recruit an expert. (October 2009)
Pakistan has a low tax as a percentage of GDP what you are trying to improve.
Expenses
Government expenditures were 25 billion U.S. dollars (2006 est.)
Sovereign bonds
Pakistan is expected to sell a dual-tranche sovereign bond worth 750 million U.S. dollars on March 23, 2006 that analysts said should ensure a favorable environment reception in the bond market. The stretch of 10 years would be $ 500 million and the portion of 30 years $ 250 million. The price is expected that during trading hours in New York on March 23, 2006. The Sources said the 10-year tranche was expected to be priced at around 7.125 percent, while the longer stretch of time is expected to sell around 7.875 percent, the upper end of the indicative range of 7.75 to 7.875 yield percent.
The bonds, with sections 10 and 30, had generated $ 1.5 billion in orders and a total size of up to $ 1,250,000,000 had been anticipated so that Pakistan would be third in the international debt market since 2004.
Government of Pakistan has been raising funds from the international debt market from time to time.
Details of the amount collected on various issues is as follows:
1999 – 623 millones dólares
2004 – $ 500 Percent million@6.75
2005 – $ 600 million in Islamic bonds worth
2007 – $ 750 Percent million@6.875 Euro Bonds worth, which are very over subscribed
Income Distribution
Gini Index: 41
Income or consumption by percentage:
Lowest 10%: 4.1%
more than 10%: 27.7% (1996)
Lowest 20%: 27.7% (2006)
See also
Ministry of Commerce (Pakistan)
Schedule of Rates in Pakistan
Ministry of Finance (Pakistan)
BOI Pakistan
Trading Corporation of Pakistan
Association Rice Exporters in Pakistan
Economy of the OIC
Further reading
Ahmad and Rashid Amjad Viqar. 1986. The Management of Pakistan Economy, 1947-1982. Karachi: Oxford University Press.
Ali, Imran. 1997. TELECOMMUNICATIONS Development in Pakistan, in EM Noam (ed.), Telecommunications in Western Asia and Middle East. New York: Oxford University Press.
Ali, Imran. 2001a. that historical lineages of exclusion and poverty in Pakistan. Paper presented at Conference of United, 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 Pakistan. Karachi: Oxford University Press.
Ali, Imran. 2002. l past and present: State formation in Pakistan, Imran Ali, Mumtaz S. And JL 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 JL Racine (eds). 2002. Pakistan: The Contours of State and Society. Karachi Oxford University Press.
Amjad, Rashid. 1982. Investment private industry in Pakistan, 1960-1970. London: Cambridge University Press.
Andrus, JR and AF Mohammed. 1958. Pakistan's economy. Stanford: Stanford University Press.
Barber, GN 1966. Punjab Alienation of Land Act 1900. Durham, NC: Duke University of the series on South Asia.
Jahan, Rounaq. 1972. Pakistan: Failure National Integration. New York: Columbia University Press.
Kessinger, BT 1974. Vilyatpur, 1848-1968. Berkeley and Los Angeles: University of California Press.
Kochanek, SA 1983. Interest Groups and Development: Business and Politics in Pakistan. New Delhi: Oxford University Press.
LaPorte, Jr, Robert and MB Ahmad. 1989. Public Companies 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. 1 988. The political economy of Pakistan. London: KPI.
Papanek, GF 1967. Development Pakistan: social goals and private incentives. Cambridge, Massachusetts: Harvard University Press.
Raychaudhuri, Tapan and Irfan Habib (eds). 1982. The Cambridge History Economic Spain, 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. In Boulder, Colorado: Folkestone.
Ali, Imran. 1987. line growth? Colonization agriculture and the roots of backwardness in Punjab Past and Present, 114
Ali, Imran. August 2002. that historical lineages of Poverty and Exclusion in Pakistan, South Asia, XXV (2).
Ali, Imran, S. Mumtaz. 2002. nderstanding Pakistanhe Impact Global, Regional, National and local interactions, in Imran Ali, Mumtaz S. And JL 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 current challenges. 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 Economy: Traditional Topics and Contemporary Concerns. Karachi: Oxford University Press.
Kibria, Ghulam. 1999. Shattered Dream: Understanding Development Pakistan. Karachi: Oxford University Press.
Kukreja, Veena. 2003. Contemporary Pakistan: political processes, 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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