PAKISTAN

The most important sector in the country’s economy is agriculture. In addition, half of the workforce is employed in agriculture. Agriculture supplies raw materials to the industry sector of the country and contributes to foreign exchange inflow. Among the most grown crops in Pakistan agricultural sector, chickpeas, cotton, rice, cane, oily seeds, potatoes, onions, garlic, peppers, and cereals are very important. The world’s fourth-largest cotton grower. Half of the agricultural income is derived from animal husbandry. Because sufficient irrigation can not be done, agriculture cannot be done in a large part of the arable areas.

Pakistan, which has a limited industrial structure before independence, has achieved a growth of 9% in the industrial sector in twenty years after declaring its independence. Sectors such as yarn weaving and sugar refineries that were supported by the state contributed to exports by developing.

In the early 1990s, financial services liberalized, and new banks obtained licenses. Money and credit policies have become market-oriented. Due to the increasing demand in the banking sector with the initiation of privatization, lending rates of banks have increased rapidly. Credit demands are usually from the textile sector. In the years when cotton production is low, credit demand is increasing. Consumer loans have also increased in recent years.

In Pakistan, the government makes various initiatives for the building sector. The new housing policy aims to close the housing gap in the country. Migration from the border regions to large cities supports this trend. The government has encouraged banks to lend more loans in the building sector to support housing financing. The customs duties on the paint have been abolished and the materials used in housing construction have been reduced. The government also attaches importance to the improvement of roads and railways.

The country’s most important mineral resources are gold and copper. 20,000 tons of copper are produced per year. Mineral Resources are located in “Belucistan” region. The government has introduced a variety of incentives to improve and increase the production of mines and has made numerous investment partnerships with China.

Freight transport by railway is very weak compared to road transport. The country does not pay much attention to railways. No progress has been made in the construction of a railway that will connect Pakistan and China. 96% of freight transport is carried out by highways. 60% of the total road length in Pakistan constitutes stabilizing roads. The government has taken control of its own to hire groups that can operate the roads under the control of regional governments and has been given control of the highways to an organization that manages the military pension funds. Transport is privatized but lack of incentives leads to various problems.