Pakistan is the 25th largest economy in the world and is a country that has many industries including the textile industry, chemicals, food processing, and agriculture. Pakistan’s economy has been going through many political problems, the rapid growth of population, inflation, and law and order situation. In past years since 1960 2005 the gross domestic product (GDP) at market prices was in 19960, 100 million Pakistani rupees, in 1980 it was 283460, in 1985 it was 560114 million rupees, in 1990, 1029093, in 1995, 2268461, in 2000 it was 3826111 and in 2005 it was 6581103. All the figures are estimated by the IMF International Monetary Fund. Pakistan industrial sector is very vast including textile industry which is 8. 5% of the GDP, fertilizers, cement, oil refineries, dairy products, food processing, beverages, construction material, clothing, paper products, shrimps, etc. with the industrial production growth rate of 10. 7% in 2005 and large scale manufacturing growth rate of 18% in 2003. In Pakistan, foreign investors are free to establish their businesses and own business enterprises in all sectors of the economy except four sectors which include arms and munitions, high explosive, currency/mint operations, and radioactive substances.
No restrictions on technology transfer with that the government investment policy also the repatriation of capital, capital goods, dividends, and profit with the approval of the State Bank of Pakistan. In the E-Commerce sector there are no trade restrictions but still, the government has the rights to block certain websites that conflict with the Pakistani religion and culture. All the above trade restrictions are based on the political bases, economical condition of the country as well as on the trade and foreign policy which are also beneficial for the people of Pakistan. Pakistan does not protect anyone industry but does support its agriculture and textile industry which are bigger than others and helps to generate revenue.
Reference
www.issi.org.pk/journal/2007_files/no_1/article/a1.htm
www.ideas.repec.org/a/pid/journl/v42y2003i4p795-807.html
Central Board of Revenue Pakistan: www.cbr.gov.pk
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