About Pakistan

Pakistan's economy has undergone considerable diversification over the years, yet the agricultural sector is still the largest sector. The major exports of Pakistan are rice, cotton and cotton products. The industrial sector is dominated by textile, cement, auto parts manufacturing and assembly, and consumer products. The service sector is dominated by finance, including commercial banks, with some of the major foreign banks operating in the country. Other financial sector entities include development financial institutions, leasing companies, modarabas (Islamic mode of financing) and brokerage houses.

In recent years, with government's emphasis on deregulation and privatization, private power generation projects and mobile phone operators have commenced operations. These sectors are expected to expand at a significant rate.

The primary source of expansion in power generation and transmission will likely come from privatization and corporatization of the Water and Power Development Authority's (WAPDA) units. The telecommunication sector is already expanding, with more impetus to come through abolition of Pakistan Telecommunication Company's monopoly.

The transportation and communication sector is also expanding with the involvement of the private sector. Emphasis is on infrastructure, including ports, roads and highways, and so on. The private sector is also participating in air transport and shipping, but lack of capital and certain government measures are impeding the expected growth.

The mining, exploration and natural resources sector is also major contributor to the economy, led by natural gas. In recent years, some oil reserves have been discovered and both domestic and foreign companies are looking for oil and gas in a large area of the country.

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