The ISO code of Pakistan is PK according to the ISO 3166 standard. The local name of the country is the same as its English name. Pakistan capital city is Islamabad. People in Pakistan speak the Urdu, and English languages. On 23 March 1956, Pakistan emerged as a sovereign political entity. In the year 03/23/1956, Pakistan emerged as a sovereign political entity. The largest cities in Pakistan are Islamabad, Karachi, Lahore, Faisalabad, Rawalpindi, Gujranwala, Multan, Hyderabad, Peshawar, Quetta.
Pakistan is located in the UTC +05:00 time zone, which is also called Pakistan Time or PKT. The internet country code top-level domain (ccTLD) for Pakistan is .pk. Other domains assigned to Pakistan are پاکستان.. The International dialing code for Pakistan is 92. People in Pakistan drive on the left side of the road. Total land area of Pakistan is 907,132 km² (approx. 350,244 mi²). Pakistan is not a landlocked country. It means that is is bordered by at least one major body of water.
Pakistan is located in Asia. Pakistan is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Pakistan faces various issues, including water pollution from raw sewage, industrial wastes, and agricultural runoff, limited natural fresh water resources, most of the population does not have access to potable water, deforestation, soil erosion, desertification.
Doing business in Pakistan
We offer various corporate services in Pakistan jurisdiction. These services can serve both, people coming from Pakistan and foreigners. If you plan on doing business in Pakistan you might be interested in contacting us.
To find out about starting your business in Pakistan click on company formation in Pakistan.
To find out how to open a bank account in Pakistan and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Pakistan.
Choose preferred service below or continue reading to find out more about Pakistan.
Demographics of Pakistan
The total population of Pakistan is 200,813,818 people. In Pakistan, the population density is 238.06 people per square kilometer (619 per square mile). Because of this statistic, this country is considered to be densely populated. The ethnic diversity is rather diverse according to a fractionalization scale which for Pakistan is 0.7098. Pakistan has approximately 3628956 foreign immigrants. The median age is approximately 22.6 years. In Pakistan, 9.96 in every 100 people use internet. Pakistan has a Human Development Index (HDI) of 0.537.
The majority religion of Pakistan is Islam, Pakistan is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Pakistan.
Culture of Pakistan
People in Pakistan speak the Urdu, and English languages. According to data on inbound tourists in Pakistan, 975,000 tourists arrive in the country each year. The first McDonalds in Pakistan was opened on September 19, 1998, and it was located in Karachi, Islamabad. One of the most popular national dishes of Pakistan is biryani. To read more click on culture of Pakistan.
Geography of Pakistan
Pakistan is considered to be a large nation because of its total area. Its total land area is 907,132 km² (approx. 350,244 mi²). Pakistan is located in Asia. Its capital city is Islamabad. Pakistan has 4 neighbouring countries. Its neighbours include Afghanistan, People's Republic of China, India, and Iran. Total length of land borders of Pakistan is 7257 kilometers (~2,802 miles).
The highest point of Pakistan is K2, with its official height being 8611 m (28,253 ft). Including land mass and EEZ, the total area of Pakistan is approximately 1,143,131 km² (~441,363 mi²). The most notable natural resources found in Pakistan are arable land, natural gas, petroleum, coal, iron ore, copper, salt, limestone.To read more click on geography of Pakistan.
Economy of Pakistan
The currency of the country is Pakistani rupee. The symbol used for this currency is ₨, and it is abbreviated as PKR. 4% of population in the country are unemployed. The total number of unemployed people in Pakistan is 8,032,553. Each year, Pakistan exports around $25.05 billion and imports roughly $39.27 billion. The Gini Index of the country is 29.6. Pakistan has a Human Development Index (HDI) of 0.537.The Global Peace Index (GPI) for Pakistan is 3.049. Pakistan has a government debt of 26.8% of the country's Gross Domestic Product (GDP), as assessed in 2012. Pakistan is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are textiles and apparel, food processing, pharmaceuticals, construction materials, paper products, fertilizer, shrimp.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Pakistan is $884,231 billion. Each year, consumers spend around $182,696 million. The ratio of consumer spending to GDP in Pakistan is 0%, and the ratio of consumer spending to the world consumer market is 0.42. The corporate tax in Pakistan is set at 35%. Personal income tax ranges from 7.5% to 35%, depending on your specific situation and income level. VAT in Pakistan is 17%, and it is known as Sales Tax. In 2013, Pakistan received 2019 million USD in foreign aid.In 2014, the foreign aid amounted to 3507.5 USD.To read more click on economy of Pakistan.
Infrastructure of Pakistan
Infrastructure quality in Pakistan is rated to be at 2.67. It indicates a satisfactory quality - roads, railroad, ports and other facilities are able to handle significant traffic at all times and are also suited to various types of transport vehicles and vessels.
In Pakistan, 93.6% of the population has access to electricity. There are 365,813 internet hosts in Pakistan. Pakistan has 151 airports nationwide.
The logistics performance index of Pakistan is 2.83. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.
Tracking possibilities for shipments are rated at 2.73. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.
To read more click on infrastructure of Pakistan.
Politics of Pakistan
Pakistan, is a federal parliamentary republic. With regard to political and civil freedoms, Pakistan is 2. Citizens in Pakistan experience partial freedom. While the majority of citizens are able to exercise their free will to a certain extent in Pakistan, some political engagement may be limited and certain population groups may be excluded from certain freedoms or expressions. The head of the government is Mamnoon Hussain.
According to the World Bank Group, the government effectiveness index of Pakistan is -0.75. This indicates that the government of Pakistan is ineffective. Public and civil services are severely handicapped, leading to potential for social and political upheaval.In Pakistan, the legislative power is vested in a Parliament of Pakistan. The Global Peace Index (GPI) for Pakistan is 3.049. The strength of legal rights index for Pakistan is 3. Overall, it is considered to be rather inadequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders to some degree; credit information may be sufficient, but hardly available, or, the oppoiste case, available but not sufficient. In 2013, Pakistan received 2019 million USD in foreign aid. In 2014, the foreign aid amounted to 3507.5 USD. Pakistan is a member of the United Nations (UN). On 30 September 1947, it joined the UN as a full member state. Pakistan is a member of the World Bank. To read more click on politics of Pakistan.
Environment of Pakistan
Pakistan emits 0.9 metric tons per capita of CO2. 42240 km² of Pakistan's territory is covered in forests. and forest land comprises 5% of all the land in the country. To read more click on environment of Pakistan.
Company formation in Pakistan
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Pakistan.
When establishing a company in Pakistan, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Pakistan that will affect the establishment and growth of one's business. Contact us or click on company formation in Pakistan to read additional information when setting up a business.
Bank account opening in Pakistan
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Pakistan. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Pakistan, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Pakistan or contact us.