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The corporate sector remained to expand in Prime minister Benazir Bhutto's government who promoted the nationalization and privatization at once. In 2004, in a programme initiated by Prime minister Shaukat Aziz, the corporate sector further enhanced and matured; it had built a strong and sizeable sector in the financial hubs of the country.
In the first four years of the twenty-first century, Pakistan's KSE 100 Index was declared the best-performing stock market index in the world by the international magazine "Business Week". [ 46 ] [ citation needed ] The stock market capitalization of listed companies in Pakistan was valued at $5,937 million in 2005 by the World Bank . [ 47 ]
According to the Economic complexity index, Pakistan is the 67th largest export economy in the world and the 106th most complex economy. [10] During the fiscal year 2015–16, Pakistan's exports stood at US$20.81 billion and imports at US$44.76 billion, resulting in a negative trade balance of US$23.96 billion. [11]
Pakistan State Oil: Rs. 206.89 billion (US$720 million) Karachi: Petroleum [2] 17: Standard Chartered Pakistan: Rs. 205.19 billion (US$710 million) Karachi: Banking [2] 18: Systems Limited: Rs. 181.10 billion (US$630 million) Lahore: Information technology [2] 19: Pakistan Oilfields Limited: Rs. 179.29 billion (US$620 million) Rawalpindi ...
In line with its status as a major port and the country's largest metropolis, it accounts for most of Pakistan's revenue generation. According to the Pakistan Federal Board of Revenue's 2006-2007 year-book, tax and customs units in Karachi were responsible for 70.75% of direct taxes, 33.65% of federal excise tax, and 23.38% of domestic sales tax. [3]
More attention was given to private sector industrial development and agricultural industries; the second five-year plans aimed to increase the national income by 20%. [10] The unemployment was tackled with the industrialisation of the country, and overall major industrial development was carried out in West Pakistan while few in East. [10]
The State Bank of Pakistan gained autonomy, and United Bank Limited, which had collapsed, was recapitalized under central bank management. [1] In 1997, Pakistan initiated banking reforms to address long-standing issues within major state-owned banks, such as the National Bank of Pakistan (NBP), Habib Bank Limited (HBL), and United Bank Limited ...
[10] [11] July 17: Angry investors attacked the Karachi Stock Exchange in protest at plunging Pakistani share prices. [12] [10] July 16: KSE-100 Index dropped one-third from an all-time high hit in April, 2008 as rising pressure on shaky Pakistan's coalition government to tackle Taliban militants exacerbates concern about the country's economic ...