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Bhutto's government faced with many difficult problems experienced by Pakistan's economy including the low productivity combined with a high rate of monetary in circulation. [6] [7] As response to this, Bhutto devalued the national currency and announced the new labour policy at an instance. [6]
The figures below are simplex data rates, which may conflict with the duplex rates vendors sometimes use in promotional materials. Where two values are listed, the first value is the downstream rate and the second value is the upstream rate. The use of decimal prefixes is standard in data communications.
Data from 1971 to 1991–92 are based on official exchange rates. Data from 1992 to 1993 onward are based on FEDAI (Foreign Exchange Dealers' Association of India) indicative rates. Data from 1971 to 1972–73 for the Deutsche Mark and the Japanese Yen are cross rates with the US Dollar. The Euro replaced the Deutsche Mark w.e.f. January 1, 1999.
In the fiscal year 1949–50, Pakistan recorded a national savings rate of 2%, a foreign savings rate of 2%, and an investment rate of 4%. Manufacturing contributed 7.8% to the GDP, while services, trade, and other sectors accounted for a significant 39%, reflecting a policy centered around import-substituting industrialization .
Taxation in Pakistan is a complex system of more than 70 unique taxes administered by at least 37 agencies of the Government of Pakistan. [1] According to the FBR, in 2021, the number of registered tax filers had grown to 7.1 million out of which only 2.5 million were active tax filers. [ 2 ]
During his rule of 3 years still today Pakistani external debt increased from US$75.3 billion to US$110.6 billion an increase of 35.3 billion USD (214 percent). [3] According to a report by the International Monetary Fund, Pakistani owes China 30% of its $100 billion foreign debt. [4]
Pakistan: South Asia Lower middle income 21.9% 2018 Panama: Latin America & Caribbean High income 21.8% 2021 Peru: Latin America & Caribbean Upper middle income 27.5% 2022 Philippines: East Asia & Pacific Lower middle income 18.1% 2021 Palau: East Asia & Pacific High income N/A Papua New Guinea: East Asia & Pacific
Pakistan was the first stop of the Crown Prince's journey to Pakistan and India. While there, the Crown Prince received a gold-plated submachine gun from members of the Pakistani Senate. [ 10 ] The most important part of the visit was to sign an agreement to establish a $10 billion refinery and petrochemicals complex in Gwadar .