Pakistan

Economic indicators

The government of Pakistan has been making significant macroeconomic reforms for several years now, which includes privatizing of the state-subsidized utilities, instituting an anti-money laundering law, cracking down on piracy of intellectual property, and quickly resolving investor disputes. Pakistan has been receiving substantial financial aid from the USA after 11^th September 2001 for its support to fight terrorism which is becoming an important factor in country's economic growth. The GDP growth rate was 6.6% in 2006/07, 6% in 2007/08, and expected to further slow down to 4.4% in 2008/09. High international oil prices, inflation (expected to average at 14.9% a year in 2008/09 by IMF) and a widening current-account deficit remain the biggest threats to the economy.

Political stability is likely to worsen in 2008 as cracks in the governing coalition deepen and the country’s security problems remain unresolved, which is going to have a negative effect on foreign investors. The economy is also likely to suffer from a lack of effective policymaking, owing to the political uncertainty. Nearly 30% of the population lives below the poverty line.

Foreign trade in figures

Despite its economic and political difficulties, Pakistan has taken steps to liberalize its trade and investment in the context of commitments made with the WTO, IMF, and the World Bank. Weak global demand for its exports has resulted into high trade deficit. The share of foreign trade in country’s GDP is around 35%.

The top three export partners of Pakistan are: the USA, the UAE, and Afghanistan. The commodities mainly exported are cotton, textiles, apparel, and cereals. The top three import partners are: Saudi Arabia, the UAE and China. Pakistan mainly imports mineral fuels & oils, machinery, electric & electronic equipment, vehicles, and iron & steel.

Sources of economic information

Ministries

http://www.pakistan.gov.pk">Government ministries and departments
http://www.commerce.gov.pk">Ministry of Commerce
http://www.finance.gov.pk">Ministry of Finance
Ministry of Economic Affairs & Statistics

Statistical Office

Statistics office

Central Bank

State Bank of Pakistan

Stock Exchange

Islamabad Stock Exchange
Karachi Stock Exchange
Lahore Stock Exchange 

Search Engines

http://www.google.com.pk/intl/en">Google ! Pakistan
http://dir.yahoo.com/Regional/Countries/Pakistan/">Yahoo! Pakistan
http://www.pakisearch.net/">Paki Search
Pakistan Services
Pakistan Webs Directory
Pak Avenue
Pak.org
http://www.dmoz.org/Regional/Asia/Pakistan/">OPD - Pakistan

Economic portals

http://www.economywatch.com/world_economy/pakistan/">Economy watch

Political outline

Executive Power

President is the chief of state and is elected by the parliament for a five-year term. President is the commander-in-chief of the armed forces. Though President is supposed to have a largely ceremonial role but military Presidents have played an influential role in country's mainstream politics throughout Pakistan's history. Prime Minister is elected by the lower house of the parliament through a vote for a five-year term. Prime Minister is the head of the government and enjoys the executive powers which include implementation of the law and running the day-to-day affairs of the country. The council of ministers (cabinet) is appointed by the President on the advice of the Prime Minister.

Legislative Power

The legislature in Pakistan is bicameral. The parliament consists of: Senate (the upper house) having 100 seats, with its members indirectly elected by provincial assemblies to serve six-year terms; and National Assembly (the lower house) having 342 seats, with its members elected by popular vote to serve five-year terms. President can be impeached and removed from its office by two-third majority vote of the National Assembly, but the constitution of the country also gives the President the unique power to dissolve the National Assembly and also to dismiss the Prime Minister. Prime Minister cannot dissolve the parliament . The people of Pakistan still have limited political rights.

Main political parties

Pakistan has a multi-party system in which no one party often has a chance of gaining power alone, and parties work with each other to form coalition governments. Some of the major political parties in the country are:
- PML(Q) (Pakistan Muslim League-Quaid-e-Azam) - centrist conservative political party derived from the original Pakistan Muslim League which had laid foundation of the state of Pakistan;
- PPPP(Pakistan People's Party Parliamentarian) – a mainstream political party derived out of Pakistan Peoples Party, MMA (Muttahhida Majlis-e-Amal Pakistan) - a coalition of Islamic religious parties;
- PLM-N (Pakistan Muslim League - Nawaz group) – also derived from the original Pakistan Muslim League;
- MQM (Muhajir Qaumi Movement) - originally an ethnic student’s organization but now more known for its terrorist activites.

Note: Name and alliances of political parties in Pakistan keep on changing frequently.

Current political leaders

President: Asif Ali ZARDARI (since September 2008)
Prime Minister: Syed Yousuf Raza GILANI (since March 2008)

Next election dates

Presidential: Year 2013
Senate: Year 2009                                                                                                                                                                                                       National Assembly: 2013