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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 sought to emulate Pakistan economic planning strategy and one of them, South Korea, copied from the city second "Five-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, in particular, brought 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, the latter brought the economy close to recession, although economic output recovered strongly until the nationalizations of the 1970s. The economy recovered during the 1980s through a policy of deregulation and increased inflow of foreign aid and remittances from expatriate workers.
In recent decades
This is a chart of trend of Pakistan's gross domestic product at market prices estimated by the International Monetary Fund with figures in millions of Pakistani rupees. See also
Year
Gross Domestic Product
Dollar exchange U.S.
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
GDP Growth Rate 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 had, until recently, has been characterized as unstable and highly vulnerable to external and internal shocks. However, the economy turned out to be unexpectedly resistant 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";
The global recession of 2001-2002;
severe drought worst in Pakistan's history, which lasts about four years;
the perception of greater risk as a result of military tensions with India, with nearly 1 million troops along the border, and predictions of the impending (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 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 2005 earthquake, 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 government of Pakistan has made important economic reforms since 2000, and the medium-term prospects employment 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's relative strengths in low labor costs.
The increasing stability of the nation's monetary policies has contributed to a reduction interest rates in money market and a huge expansion in credit amount, changing patterns of investment in 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 (including Iran) held dogmatically in the twentieth century. The Pakistani government is now pursuing an export-led model of economic growth successfully implemented by the Southeast Asia and now a great success 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 licensing requirement of all consignments 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 interested in doing 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, is aims to boost the nascent industry of information technology. This in recent years has led to impressive growth in this sector.
The economy Today
Due to inflation and the global economic crisis, the economy of Pakistan come to a state of balance of payments crisis. "The International Monetary Fund bailed out Pakistan in November 2008 to avoid a balance of payments crisis in July last year increased the loan to 11.3 billion U.S. dollars of an initial $ 7.6 billion. "
In October 2007, Pakistan's reserves raised a handsome $ 16,400,000,000. exceptional political Pakistan maintains controlled trade deficit at $ 13 billion, exports grew at 18 billion U.S. dollars, generating increased revenue to be 13 billion U.S. dollars and attracted foreign investment of $ 8.4 billion.
Since early 2008, the economic prospects of Pakistan has taken stagnation. The security problems generated by the function of the nation in the war on terror has 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. In combination with high world commodity prices, the combined impact has shocked Pakistan's economy, with rising trade deficits, high inflation and a drop in the value of the rupee, which has fallen from 60 to 1 USD to more than 80-1 of dollars in a few months. For the first time in years, which could having to seek external funding and balance of payments support. Therefore, S & P low external debt rating of Pakistan to CCC-currency B more than 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 defect in the trade of Pakistan's 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 it 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 pick up more than 5% per annum in 2011. Although less than the average years July 5% earlier, would represent an improvement of the current crisis where the growth is a mere 3.5-4%.
Economic Comparison of Pakistan 1999-2008
A view of IIChundrigar Road, the business district of Karachi in Pakistan
Mainstay of the economy – By region, Source:
Indicator
1999
2007
2008
2009
GDP
$ 75 billion
$ 160,000,000,000
$ 168,000,000,000
$ 185,000,000,000
GDP purchasing power parity (PPP)
$ 245,000,000,000
$ 445,500,000,000
$ 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
Export
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
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 of the century, Pakistan's KSE 100 stock market index of the best performing index in the world as declared by the magazine CORPORATE 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 to 2007, with the large-scale manufacturing increased at least 1.5% in 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 less 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) of the 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 a year." The latest Middle-class figures given Pakistan's 35 million members. Moreover, 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 found that there were almost 2.8 million income taxpayers in the country.
Poverty levels have decreased by 10% since 2001 foreign companies which establish the middle class Pakistanis have been very successful. For example, demand for Unilever products have recently been so high that even after doubling the production of Anglo-Dutch company struggling to meet demand and is the President declared that "the Pakistanis can appear to have enough. "
Poverty mitigation costs
Main article: Poverty in Pakistan
Poverty in Pakistan
The government of Pakistan spent more than 1 billion rupees (about 16.7 billion U.S. dollars) on the programs of poverty alleviation over the past four years, reducing poverty 35 per cent 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
Main article: Demographics of Pakistan
With a GDP per capita of more than $ 3,000 (PPP, 2006) compared to $ 2,600 (PPP 2005) in 2005, the World Bank considers Pakistan a middle income country, also is registered as a "medium development country" in the Index Human Development 2007. 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 years. The population, about 168 million in 2007, is growing at about 1.80%.
Relatively few resources in the past had been devoted to socio-economic development 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 the fertility rate peaked in the 1980s, and since then has fallen sharply. Pakistan has a Gini index of family income of 41, near the world average of 39.
Employment
The high population growth in recent decades has ensured that a large 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. Significant progress 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 nearly $ 2 billion in five years.
Tourism
Article Home: Tourism in Pakistan
Tourism in Pakistan is a growth industry. Major attractions include ruins of the Indus Valley civilization and stations mountain in the Himalayas. Himalaya 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 attractions of authentic Pakistani food and culture.
Income
The Board of Revenue has collected nearly a billion rupees (14 100 million 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 to U.S. dollar until 1982. When the government of General Zia-ul-Haq, changed it to float. This has been regarded as the best Zia decision. 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 ISO and abbreviated R code, which is divided into 100 paisas. Currently, the Rs 5,000 newly printed note is the largest denomination in circulation. Recently, PAS has introduced all new design notes of Rs. 5, 10, 20, 50, 100, 500, 1000, 5000 and heading, while the design work of Rs.10, 000 note is ongoing help the banking industry in the maintenance of a few notes in savings accounts. The new notes have been designed using the euro and technology are in bold bright colors and bold, stylish designs.
Rupee dollar exchange rate
Foreign exchange rate
1 Pakistani rupee (PKR) = 100 Paisa
The Pakistani rupee depreciated against the 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. State Bank of Pakistan is 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
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: PKR exchange rates in dollars, PAS
Foreign exchange reserves
In October 2007, after Prime Minister Shaukat Aziz tenure, Pakistan raised its foreign reserves to 16.4 billion U.S. dollars. Pakistan trade deficit was $ 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 an alarming rate 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 industries (eg clothing, textiles and cement) and services (such as telecommunications, transport, advertising, and finance).
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
2003-2004
2004-05
Agriculture
0.03
1.01
0.53
1.74
Industry
Manufacturing
0.61
1.71
1.08
1.11
2.74
2.31
2.46
2.19
Service
2.47
2.75
3.16
4.16
Real GDP (fc)
3.1%
4.8%
6.4%
8.4%
Source: Economic Survey of Pakistan 2005
Production structure
Share of various 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. 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. 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. 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 is one of the world's largest producers and suppliers of the following according to the 2005 Food and Agriculture Organization of the United Nations FAOSTAT given here with the classification:
Chickpea (2nd)
Apricot (4th)
Cotton (4th)
Sugar cane (4th)
Milk (5th)
Onion (5th)
The date palm (6th)
Mango (3rd)
Mandarins, mandarin, clementine (8th)
Rice (8 ª)
Wheat (9th)
Oranges (10th)
Pakistan ranks fifth in the Muslim world and XX worldwide in agricultural production. It is the fifth largest milk producer.
the main natural resources of Pakistan are arable land and water. About 25% of the total area of Pakistan under cultivation and is watered by one of the largest irrigation systems in the world. Pakistan irrigates three times more acres than Russia. Agriculture accounts for about 23% of GDP and employs about 44% of the 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
1284
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, oil refineries, dairy, food processing, beverages, construction materials, clothing, paper products, shrimp
Industrial production growth rates: 6% (2005)
The large-scale production growth rate: 19.9% (2005)
Automotive Industry
Pakistan is an emerging market for automobiles and auto parts companies offers immense investment opportunities. 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. automobile sector in the currently contributes 16% to the industrial sector, which 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 sector is composed of 27 plants Previous contributing 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 declined 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 in the area shows several geological potential deposits of metallic and nonmetallic minerals. Excluding oil, gas and nuclear minerals regulated at the federal, provincial minerals is a 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 federal and provincial governments have jointly established Pakistan first National Mineral Policy in 1995, properly implemented by the provinces, on the appropriate institutional and regulatory framework, fair and internationally competitive fiscal regime.
In the recent past exploration by government agencies, as well as by multinational mining companies is presented ample evidence of the occurrence of significant mineral deposits. The Recent discoveries of a thick oxidized zone underlain by zones of sulphides in the area of arms of the province of Punjab, covered by a thick cover of alluvium have opened new prospects for exploration of metallic minerals. Pakistan has a large base of industrial minerals. The discovery of coal deposits 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 attract international investment in this sector. International mining companies have responded favorably to the NMP and now at least four are dedicated to mining development projects.
Currently about 52 minerals are in operation, although on a small scale. Most production is from coal, rock salt and other minerals for the construction and industrial. The current contribution mining sector to GDB is about 0.5% and is likely to increase considerably in the development and commercial exploitation of Saindak and copper deposits Diq Reco Gold (largest gold mine in the world), Dudda zinc and lead deposits of Thar coal and precious stones.
Services
Services 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 30%. Pakistan is trying to promote the information industry and other modern service industries through incentives such as tax long-term tax.
The government is acutely aware of the huge job growth opportunities in the services sector and has launched aggressive privatization of telecommunications, utilities and banking despite the labor unrest. [Citation needed]
Communication
A one-stop PTCL in Islamabad
Pakistan Telecommunications Company Ltd has become a success Forbes 2000 U.S. conglomerate with more than $ 1 billion in sales in 2005. The phone market Mobile has fired fourteen times since 2000 to reach a customer base of 91 million users in 2008, one of the largest mobile telephone densities in the world .. In addition, more than 6 million fixed lines in the country with 100% fiber optic network and coverage through WLL, even in remote areas .. As a result, Pakistan won the prestigious Government Leadership of the GSM Association in 2006 ..
The contribution of telecom sector to benefit the National Treasury increased to Rs 110 billion in the year 2007-08 on account of general sales tax, activation of expenditure and other measures with respect to Rs 100 billion in 2006-07.
The World Bank estimates that it takes about three days just to get a phone connection in Pakistan.
In Pakistan, after 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 subscribers in more than reported in the same period in 2008. Plus 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 that brands 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 in the last four years, the telecommunications sector Pakistan has attracted more than $ 9 billion in foreign investment. During 2007-08, Pakistan's communications sector received only 1.62 billion dollars in foreign direct investment (FDI) over 30% of the country's total foreign direct investment.
This 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 implementation of deregulation policy. Pager and mobile (cellular) phones were adopted early and freely. Cell phones and the Internet were taken for the sake of laissez-faire with a proliferation private service providers that led to rapid adoption. With a rapid increase in the number of Internet users and ISPs, a large English speaking population, Pakistani society has seen an unprecedented revolution in communications.
According to PC World, a total of 6.37 billion text messages were sent through Acision's messaging systems across Asia Pacific in the 2008/2009 Christmas and New Year. Pakistan was one of the top five with Ranker of an increased traffic of 763 million SMS messages.
Pakistan ranks fourth in terms of growth of broadband Internet in the world, as the base subscribers to broadband Internet has increased rapidly. The rankings are released by Point Topic Broadband Global Analysis, a research center worldwide.
Pakistan has more than 17 million Internet users in 2009. The country is said to have a potential to absorb up to 50 million mobile Internet users phone in the next five years, thus 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 a huge increase in the use of online marriage services, For example, leading to a major re-alignment of the tradition of arranged marriages.
From 2007 there were six telephone companies cell operating in the country with nearly 90 million mobile phone users in the country.
Wireless local loop and fixed telephony sector also liberalized and the private sector has entered thus increasing the teledensity rate. In mid-2008 the 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 provisionally valued this sector at Rs.982, 353 million in 2005 thus registering over 91% growth since 2000.
Railroads
Main article: Pakistan Railways
A rehabilitation plan mass 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 from Islamabad-Pakistan through Iran via Teharan-Istanbul-Turkey. Moreover, it would promote trade, tourism, and also serve as a effective link for exports to Europe (as part of Europe and Turkey] Asia.
Aviation
See also: List of airlines of Pakistan
A PIA B747-367 in the domestic satellite Jinnah International Airport
Pakistan International Airlines, the flag carrier of Pakistan industry civil aviation, has turnover of over $ 1 billion in 2005. The government announced a new shipping policy in 2006 that banks and institutions financial vessels of the mortgage.
Private sector airlines in Pakistan include Airblue and Shaheen Air International. Many private airlines are prepared as Air Mashriq, Dewan air and air of Pearls.
Airblue is using the state of the art Airbus A320 and A321 to fly 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 aircraft Factory fresh, while dry-leased two aircraft will also soon be added to the current fleet of five, making it the largest fleet in second place PIA behind, with 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 private sector loans businesses and consumers. Foreign exchange reserves continued to reach new levels in 2007, supported by robust export growth 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) in 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. On Capital Availability and access, Pakistan ranks 33rd.
Pakistan banking sector has remained very strong and resilient during the global financial crisis in 200 809, a trait that has attracted a substantial 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 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, beyond 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 this sector at 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] Some officials even go so far as to say that the frequent power cuts across Pakistan today are indicative of an emerging prosperity, as it is rapidly increasing demand for electricity. Yet, the inability to meet demand is in fact indicative of a challenge to the same prosperity. [Citation needed] This is despite Pakistan have tremendous potential to generate wind power. Beyond 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 this is too optimistic.
Foreign trade, remittances, aid and investment
Investment
Foreign direct investment (FDI) in Pakistan increased by 180.6 percent year on year to U.S. $ 2,220,000,000 and portfolio investment 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 nearly $ 8.4 billion in the year 06/07, surpassing the government target of $ 4 billion.
Pakistan is now the most favorable country for 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. business regulation 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 (At 85th) well ahead of neighboring countries such as China (89th) and India (at 133a).
Pakistan is attracting an increasing amount of private capital was ranked the 20th in the world based on the amount of private equity into the country. Pakistan has been able to attract much investment capital Private globally due to economic reforms initiated 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 for industry car). The privatization process that began in the 1990s, has gained momentum, with most of the privately owned banking system and the sector white oil are the next big privatization process.
Recent improvements in the economy and business environment have been recognized by international agencies rating as Moody and Standard and Poor's (country risk upgrade in late 2003).
Foreign acquisitions and mergers
With the rapid growth Pakistan's economy, 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 of $ 487,000,000
Prime Commercial Bank by ABN Amro to $ 228,000,000
Paktel to China Mobile for $ 460,000,000
PTCL to Etisalat of $ 1,800,000,000
Additional shares for 57.6% of Lakson Tobacco Company acquired by Philip Morris International for $ 382 million
Foreign exchange earnings sales are also helping to cover the current account deficit.
Foreign trade
Pakistani exports in 2005
Pakistan a member of the World Trade Organization, and has bilateral and multilateral trade agreements with many countries and international organizations.
Fluctuation Global demand for their 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 are still dominated by textiles and garments of cotton, despite government efforts to diversify. The Exports grew by 19.1% in FY 2002-03. main imports are petroleum and petroleum products, edible oil, chemicals, fertilizers, goods capital, industrial raw materials and consumer products.
Past external imbalances left Pakistan with a foreign debt burden of large size. payments principal and interest in fiscal year 1998-99 amounted to $ 2.6 billion, more than double the amount paid in FY 1989-90. annual debt service reached a maximum of 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 global interest rates, these factors have enabled Pakistan to prepay, refinance and reschedule its debts as they please. Although the surplus account current and the increase in exports in recent years, Pakistan still has a large deficit in goods trade. The budget deficit for the year fiscal 1996-1997 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 U.S. economic assistance to Pakistan was suspended the sanctions after October 1990, and additional were imposed in May 1998 after Pakistan test of nuclear weapons. The 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 in bilateral and multilateral agreements.
While the country has a current account surplus and imports and exports have grown rapidly over recent years, 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 impact adverse Pakistani rupee depreciation of its value against the dollar (U.S. $ 1 = 60 rupees (03 2006)) and other currencies.
One of the main reasons contributed to the widening trade deficit is the increase in imports of earthquake relief related items, especially tents, tarpaulins and sheets plastic to provide temporary shelter to survivors of the earthquake on October 8, 2005 in Azad Jammu and Kashmir and parts of NWFP, an official said. Increased the trade gap was also driven by high oil import prices, food, machinery and automobiles.
The Oil Ministry says that this year's bill for oil imports expected to reach $ 6,500,000,000 against $ 4,600,000,000 in fiscal year which is the main reason behind the record trade deficit.
The EU is the largest trading partner of Pakistan, which absorbs more than one third exports in 2003.
Export
Pakistan produces export quality footballs
Pakistan's exports increased by over 100% since $ 7.5 billion in 1999 to about 18 billion U.S. dollars in the fiscal year 2007-2008.
Pakistan exports rice, furniture, cotton fiber, cement, tiles, marble, textiles, clothing, leather goods, sports goods (renowned for footballs / soccer balls), surgical instruments, electrical appliances, software, carpets and rugs, ice cream, livestock meat, chicken, powdered milk, corn, seafood (especially shrimp / prawn), vegetables, food processed, Pakistan Suzuki mounted (to Afghanistan and other countries), defense equipment (submarines, tanks, radars), salt, marble, onyx, products engineering, and many other items. Pakistan now has been very well recognized by cement producers and exporters in Asia and the Middle East. In August 2007, Pakistan has begun to export cement to India to fill the shortage there caused by the construction boom.
Imports
Pakistan's imports stood at 30.54 billion U.S. dollars in the 2006-2007 biennium, 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, cars, 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 withholding tax income is levied at 6 per cent of imports and 3.5 percent in sales of domestic taxpayers.
External imbalances
Pakistan suffered a merchandise trade deficit of $ 13,528,000,000 for the year 2006-7. The gap has widened considerably since 2002-3, when the deficit was only $ 1,060,000,000. Services sector deficit for 2006-2007 was $ 4,125,000,000 equivalent to the export of services of 4.125 billion dollars for the same year.
The combined deficit of goods and services be at 17.653 billion U.S. dollars which is about 83.5 percent of exports country's total of $ 21,136 (goods and services). The increase in the trade gap has been attributed to the high oil import bill and rising prices food, machinery and automobiles.
Current account deficit – the current account deficit for 2006-7 reached 7.016 billion U.S. dollars by 41 percent over the previous year $ 4,490 million.
Since early 2008, the economic prospects of Pakistan has taken a dramatic decline. Security problems derivatives of the function of the nation in the war on 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 led to massive capital flight from Pakistan to the Gulf. Combined with high world commodity prices basic double impact has shocked Pakistan's economy, with rising trade deficits, high inflation and a drop in the value of the rupee, has fallen 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 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 rating of local currency debt was reduced to less than B-BB. Credit agency Moody's Investors Service cut its outlook on Pakistan's debt from stable to negative due to political uncertainty, although it maintained the status of B2.The country at a cost of protection against default on sovereign debt trades at 1,800 points Pakistan basic agreement with his five-year credit default swap, a level that indicates investors believe the country is already or soon will be in default payment.
The center term, however may be less turbulent, depending on the political environment. The EIU believes that inflation should fall back to a single digit in 2010, and that growth should pick up more than 5% year to 2011. Although less than the average of previous years July 5%, would is in excess of the current crisis where the growth is a mere 3.5-4%.
Financial Aid
Pakistan receives economic aid from several sources as loans and grants. The International Monetary Fund (IMF), World Bank (WB), Asian Development Bank (ADB), etc provides long-term loans to Pakistan. Pakistan also receives bilateral aid from developed countries rich in oil.
The Asian Development Bank will provide about $ 6,000,000,000 of development aid to Pakistan during 2006-9. The World Bank issued a lending program of up to 6.5 billion U.S. dollars to Pakistan under a new contract four years, 2006-2009, the aid strategy showing a significant increase in funding for the meat mainly infrastructure. Japan $ 500,000,000 provide annual financial aid to Pakistan. In November 2008, the International Monetary Fund (IMF) has approved a loan of 7.6 million dollars to Pakistan to help stabilize and rebuild the country's economy. More recently, the Govt of Pakistan received U.S. economic aid $ 5 billion U.S. dollars, of which the U.S. commitment U.S. $ 1BN was described as a down payment on the $ 1.5 billion already announced previously promised to Pakistan for each of the next five years.The European Union pledged $ 640 over four years, while reports said Saudi Arabia has pledged U.S. $ 700 million over two years. Friends General of Pakistan had pledged $ 1.6 billion in aid, which 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 settled in Western Europe and North America are important sources of remittances to Pakistan. Since 1973 Pakistani workers in the oil Arab states are rich sources of billions of dollars of remittances.
The seven million strong Pakistani diaspora, contributed U.S. $ 8 million to the economy in 2008. The major source of remittances to countries in Pakistan include the United Arab Emirates, United States, Saudi Arabia, GCC countries (Bahrain, Kuwait, Qatar and Oman), Australia, Canada, Japan, UK and EU countries such as Norway, Switzerland, etc.
An IMF research revealed that remittances workers contribute 4% of GDP in Pakistan and are equivalent to about 22 percent 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 dollars (2005 est.)
Economic aid – recipient: $ 2 billion (FY97/98)
The income and tax
This section needs attention an expert on the subject. See the talk page for details. WikiProject Economics or the Economics Portal may be able to help recruit an expert. (October 2009)
Pakistan has a low tax / GDP, which is 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 an environment favorable 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 the 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 section longer time is expected to be sold around 7.875 percent, the upper end of the indicative range of 7.75 to 7.875 yield percent.
The bonds, with 10 years and sections of 30, had generated $ 1.5 billion in orders and a total size of as much as 1.25 billion U.S. dollars that had been planned so there would be Pakistan ranks 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 worthwhile
2007 – $ 750 Bonus Percent million@6.875 Euro penalty, which were highly 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)
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, Rashid Viqar and Amjad. 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: University Press, Oxford.
Ali, Imran. 2001a. that historical lineages of Poverty and Exclusion in Pakistan. Paper presented at Conference of the Kingdom, society and nation in South Asia. National University of Singapore.
Ali, Imran. 2001b. BUSINESS and power in Pakistan, AM Weiss and SZ Gilani (eds), Power and Civil Society in Pakistan. Karachi: Oxford University Press.
Ali, Imran. 2002. l past and present: state formation in Pakistan in Imran Ali, Mumtaz S. And JL Racine (eds), Pakistan: Contours of State and Society. Karachi: Oxford University Press.
Ali, Imran, A. Hussain. 2002. Pakistan Report National Human Development. 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. The private industrial investment in Pakistan, 1960-1970. London: Cambridge University Press.
Andrus, JR and AF Mohammed. 1958. The economy Pakistan. Stanford: Stanford University Press.
Barber, GN 1966. Punjab Alienation of Land Act 1900. Durham, NC: Duke University of the South Asia series.
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 in Pakistan. New Delhi: Oxford University Press.
LaPorte, Jr, Robert and MB Ahmad. 1989. Public Enterprises in Pakistan. In 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. Political economy Pakistan. London: KPI.
Papanek, GF 1967. Pakistan Development: social goals and private incentives. Cambridge, Massachusetts: Harvard University Press.
Raychaudhuri, Tapan and Irfan Habib (eds). 1982. The Cambridge Economic History of Spain, 2 vols. Cambridge: Cambridge University Press
White, LJ 1974. Concentration industrial and economic power. Princeton, NJ: Princeton University Press.
Ziring, Lawrence. 1980. Pakistan: The Enigma of Political Development. Boulder, Colorado: Folkestone.
Ali, Imran. 1987. line growth? Agricultural colonization and the roots of backwardness in the 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. Economy of Pakistan 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 and Contemporary Issues 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 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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