Background
The separation in 1947 of British India into the Muslim state of Pakistan (with two sections West and East) and largely Hindu India was never satisfactorily resolved. A third war between these countries in 1971 resulted in East Pakistan seceding and becoming the separate nation of Bangladesh. A dispute over the state of Kashmir is ongoing. India-Pakistan relations have been rocky since the November 2008 Mumbai attacks. In February 2008, Pakistan held parliamentary elections and in September 2008 elected Asif Ali ZARDARI to the presidency.
Pakistan, an impoverished and underdeveloped country, has suffered from decades of internal political disputes and low levels of foreign investment. Between 2001-07, however, poverty levels decreased by 10%, as Islamabad steadily raised development spending. During 2004-07, GDP growth in the 5-8% range was spurred by gains in the industrial and service sectors - despite severe electricity shortfalls - but growth slowed in 2008-09 and unemployment rose. Inflation remains the top concern among the public, climbing from 7.7% in 2007 to more than 13% in 2010. In addition, the Pakistani rupee has depreciated since 2007 as a result of political and economic instability. The government agreed to an International Monetary Fund Standby Arrangement in November 2008 in response to a balance of payments crisis, but during 2009-10 its current account strengthened and foreign exchange reserves stabilized - largely because of lower oil prices and record remittances from workers abroad. Record floods in July-August 2010 lowered agricultural output and contributed to a jump in inflation, and reconstruction costs will strain the limited resources of the government. Textiles account for most of Pakistan's export earnings, but Pakistan's failure to expand a viable export base for other manufactures has left the country vulnerable to shifts in world demand. Other long term challenges include expanding investment in education, healthcare, and electricity production, and reducing dependence on foreign donors.
Holidays
Jan 21* - Eid ul-Azha (Feast of the Sacrifice)
Feb 20* - Ashoura
Mar 23* - Pakistan Day
Apr 21* - Eid-e-Milad-un-Nabi (Birth of the Prophet)
May 1 - Labor Day
Aug 14 - Independence Day
Sep 6 - Defence of Pakistan Day
Sep 11 - Anniversary of the Death of Qaid-i-Azam
Nov 9 - Birthday of Allama Iqbal (National Poet)
Nov 14-16* - Eid al-Fitr (End of Ramadan)
Dec 25 - Birthday of Qaid i-Azam & Christmas Day (Christians only)
Dec 26 - Boxing Day (Christians only)
Ps: (a) Muslim festivals(*) are timed according to local sightings of various phases of the moon and the dates given above are approximations. (b) Christian holidays are observed by the Christian community only.
Phone Codes
Country Code: 92
Outgoing International Code: 00
Resources
Market Research
CIA - The World Factbook - Pakistan
This website indicates a wide range of detail information about Pakistan by introducing under 8 different fields as its geography,people, government, economy, communications, transportation, military, transnational issues.
About Pakistan
There is available to find out Pakistan's general outlook on the issues of its social and business profile, passport/visa, money, accomodation, government, duty free, health...etc.
Pakistan Times Online News
It is the national news portal available online to get not only business news but also politics, social and so forth related to Pakistan.
Business Directory for Pakistan
Kasbah.com makes the list of the companies which assist to potential investors for their business networks and financial resources in Pakistan.
Pakistan Business Reports - Doing Business in Pakistan
This webpage supplies not only comprehensive & critical information for evaluating risks and opportunities when trading or investing in Pakistan but also making analysis on the trade environment in Pakistan.
Trade Information
US - Pakistan Business Council
This organization mainly aims to advance the expansion of investment opportunities, trade and commerce, and enhance the business relationship between the United States and Pakistan.
Federation of Pakistan Chambers of Commerce & Industry(FPCCI)
The Federation of Pakistan Chambers of Commerce & Industry (FPCCI) is established to promote, encourage and safeguard the interest of private sector in Pakistan and to serve as a bridge between the business community and the government.
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