Market prices Essay

Pakistan is a 25th largest economy in the world and is a country which has many industries including textile industry, chemicals, food processing and agriculture. Pakistan economy has been going through many political problems, 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 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 established their businesses and own business enterprises in all sectors of the economy except four sectors which includes 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 of the State Bank of Pakistan. In E-Commerce sector there are no trade restrictions but still government have rights to block certain websites which conflicts 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 any one industry but do support its agriculture and textile industry which are bigger than other and helps to generate revenue.

Refrences • Pakistan and Malaysia-Economic and trade relations, 2007: www. issi. org. pk/journal/2007_files/no_1/article/a1. htm – 84k • MU Din, Openness and Economic Growth of Pakistan: www. ideas. repec. org/a/pid/journl/v42y2003i4p795-807. html – 16k • Central Board of Revenue Pakistan: www. cbr. gov. pk