III. Capital Gain:
8.1. Visa Information for the South Korean Nationals to travel for Pakistan:
Republic of Korea falls in the list of 66 countries which are declared as BUSINESS FRIENDLY COUNTRIES by Pakistan. So, Pakistani mission at Republic of Korea is authorized to grant five years validity (Multiple) visa to businessmen of Republic of Korea on the production of any of the following documents along application form. Duration of each stay is for three months.
Recommendation letter from CC&I of the respective country of the foreigner.
Invitation letter from Business organization duly recommended by the concerned Trade Organization/Association in Pakistan.
Recommendatory letter by Honorary Investment Counselor of BOI/Commercial Attaché posted at Republic of Korea.
Further information regarding visa can be obtained from the following websites.
http://www.interior.gov.pk/
http://www.dgip.gov.pk/
8.2.
UTILITIES COST:
The utilities tariff rates are being revised every month and latest informations are available on the relevant authorities’ webpages as;
RELATED WEBSITES:
Electricity tariff : http://www.nepra.gov.pk
Petroleum products and Gas: http://www.orga.gov.pk
8.3. LOCAL TRAVELLING WITHIN PAKISTAN:
In all the main cities of Pakistan, taxi service is readily available and the fares are quite reasonable, although in most case the fare has to be negotiated in advance. Most hotels and guesthouses in Pakistan provide complimentary airport pick-up service if they are informed in advance. All the major airports in Pakistan offer radio cab service at a fixed, non-negotiable rate.
Page | 75 The main metropolitan cities of Pakistan are connected through different bus services like Sammi’s Daewoo bus services, Niazi Express Bus Services Pvt. Ltd. and Skyways bus service. These bus services provide travel service between Islamabad, Lahore, Peshawar, Faisalabad, Multan and Karachi and other major cities of the country. The website sources for these bus services are given as under:
Sammi’s Bus Daewoo Service: http://www.daewoo.com.pk/
Niazi Bus Service: http://www.niaziexpress.com.pk/
Skyways Bus Service: http://www.skywaysbusservice.com.pk/
For air travel, no Republic of Korea air carriers fly to Pakistan directly; however, there are several connecting flights from Abu Dhabi, Doha, Bangkok, European and Asian cities to Karachi, Lahore and Islamabad. The Pakistan International Airlines offers the largest network of domestic and international destinations to Pakistan. In addition to PIA, there are three other private airlines - namely Airblue, Shaheen Air International and the recently introduced Air Indus etc. To travel within Pakistan or internationally from Pakistan the services of these Pakistani airlines can be used. The website sources for Pakistani airlines are given as under:
Pakistan International Airlines: www.piac.com.pk
Air Blue: www.airblue.com
Shaheen Airlines: www.shaheenair.com
Air Indus: www.airindus.com.pk
JS Air: www.jsair.com.pk
Princely Jets: www.princelyjets.com
8.4. HOTELS:
International class hotels are easily available in all the major cities of Pakistan. The rates of the hotels vary as per their class from three-star to five-star. The approximate rates are given as under:
HOTEL WITH TENTATIVE ROOM RATE FOR 2013-14:
3-Star 4-Star 5-Star
Islamabad Rupees US$ Rupees US$ Rupees US$
Single bed 10,000 95.02 17,000 161.54 22,000 209.05
Double bed 12,500 118.78 22,000 209.05 24,000 228.05
Lahore
Single bed 9,000 85.52 10,000 95.02 21,698 206.18
Double bed 10,000 95.02 14,500 137.78 24,336 231.24
Page | 76
HOTELS IN MAJOR CITIES OF PAKISTAN:
Islamabad/Rawalpindi
ISLAMABAD MARRIOTT *****
Agha Khan Road, Shalimar 5, Islamabad
UAN: 111 AVARIS (111 282 747) Toll-Free: 0800-88888
Tel: +92 (21) 3568-5021 [50 lines], 111-505-505
Fax: +92 (21) 3568-1835, 3568-2655 Email: pchk@hashoogroup.com
9 Abdullah Haroon Road Karachi 10444 (92-21) 35680111,35680111- 111-223334 Fax:35681610,35680981,35670111
KARACHI SHERATON HOTEL &
TOWERS *****
Club Road, P.O. Box 3918, Karachi Tel:35681021-60,
Page | 77
Majority of the commercial banks in Pakistan offer bank account services in local and main international currencies. The international businessmen and firms which are doing business in Pakistan can open bank accounts in Pakistani banks. For this they will have to provide the necessary requirements.
For individual businessman: one will have to provide his passport and visa copy to the bank officer. In addition, he will have to provide the documents which may show his source of income for which he/she needs to open bank account.
To open bank account for some international business firm in Pakistan, the firm will have to provide the following documents:
Banking Accounts Opening for a Limited Company:
Certified copies of:
Memorandum and Articles of Association.
Certificate of Incorporation.
Certificate of Commencement of Business, wherever applicable.
Form-A / Form-B as applicable.
Form-29, wherever applicable.
Valid ID card/ A valid passport and Visa ( in case of foreigner) of all the directors and authorized person
Board Resolution for opening of account specifying the person(s) authorized to open and operate the account.
List of Directors
For a Sole-Proprietorship:
Copy of Valid ID card/ A valid passport and Visa( in case of foreigner) of Proprietor
Copy of NTN Certificate
Page | 78
Account Opening Request & Proprietorship Letter on Letterhead as per Bank's prescribed format.
Registration certificate for registered concerns
Certificate or proof of membership of trade bodies etc, wherever applicable
For a Partnership:
Copies of valid ID card A valid passport and Visa ( in case of foreigner) of all the partners and authorized signatories.
Attested copy of ‘Partnership Deed’ duly signed by all partners of the firm.
Attested copy of Registration Certificate with Registrar of Firms.
Account Opening Request Letter on Firm's Letter Head
Authority letter from all partners, authorizing the person(s) to operate firm’s account.
8.6. BANKS OPPERATING IN PAKISTAN:
Public Sector Banks:
NATIONAL BANK OF PAKISTAN Tel: +92 21 9212100 (50 lines) www.nbp.com.pk
Page | 79 Foreign Banks:
BARCLAYS BANK Tel: +92 21 111-225-587 www.barclays.pk
DEUTSCHE BANK Tel: +92 21 111 555 777 www.db.com/pakistan INDUSTRIAL AND COMMERCIAL BANK OF
CHINA LIMITED www.icbc-ltd.com
Islamic Bank
ALBARAKA BANK (PAKISTAN) LIMITED Tel: +92 21 343 158 51
www.albaraka.com.pk
BANKISLAMI PAKISTAN LIMITED Tel: +92 21 111 475 264
www.bankislami.com.pk MEEZAN BANK LIMITED
Tel: +92 21 111 331 331 www.meezanbank.com
DUBAI ISLAMIC BANK Tel: +92 21 348 105 19 www.dibpak.com
Page | 80
8.7. BUSINESS RELATED GOVERNMENT OFFICES:
Ministry of Commerce, Pakistan Block-A, Pakistan Secretariat Islamabad, Pakistan
Tel: 92-51-921-0277 and 910-3949 Fax: 92-51-920-3104
Website: www.commerce.gov.pk
Ministry of Finance and Revenue Q-Block, Pakistan Secretariat Islamabad, Pakistan
Tel: 92-51-920-2373; 920-3424 Fax: 92-51-920-1857
Website: www.finance.gov.pk Ministry of Industries and Production
Block-A, Pakistan Secretariat Islamabad, Pakistan
Tel: 92-51-921-1709 and 921-0192 Fax: 92-51-920-7748
Website: www.moip.gov.pk
Ministry of National Food Security & Research Block-B, Pakistan Secretariat
Islamabad, Pakistan
Tel: 92-51-920-3307 and 921-0351 Fax: 92-51-920-6689
Punjab Board of Investment & Trade (PBIT) 23-Aikman Road, GOR-1
Lahore, Pakistan
Tel: 92-42-9920-5201 Ext 102; 92-42- 9920-4114 Fax: 92-42-9920-5171
Website: http://www.pbit.gop.pk Federal Board of Revenue
FBR House
Constitution Avenue, Sector G-5 Islamabad, Pakistan
Ph: 92-51-920-1938; 920-8827 Fax: 92-51-920-5307; 920-5308 Website: www.fbr.gov.pk
Sindh Board of Investment (SBI) 1st Floor, Tower B
Finance & Trade Center Shahra-e-Faisal, Karachi Tel: 92-21-9920-7512 up to 4 Fax: 92-21-9920-7515
Website: http://www.sbi.gos.pk Securities and Exchange Commission of
Pakistan (SECP)
NIC Building, Jinnah Avenue Islamabad-44000, Pakistan
Tel: 92-51-920-3609 4; Ext 203 /920-7598 Fax: 92-51-920-4915
5th Floor, Block A, Finance & Trade Centre Shahrah-e-Faisal, Karachi, Pakistan.
Tel: 92-21-9920-6806 Fax: 92-21-9920-2718
Website: http://www.tdap.gov.pk
Pakistan International Airlines (PIA) PIA Head Office, Jinnah International Airport Karachi-75200, Pakistan
Ph: 92-21-3457-5900; 111-786-786 Fax: 92-21-3457-2225
Website: www.piac.com.pk
8.8. MAIN CHAMBERS OF COMMERCE AND INDUSTRY:
Federation of Pakistan Chambers of Commerce and Industry
Federation House, Main Clifton Road Karachi, Pakistan
Tel: 92-21-3587-3691, 93, 94;
Fax: 92-21-3587-4332;
Email: info@spcci.com.pk Website: www.fpcci.com.pk
Overseas Investors Chamber of Commerce and Industry
Talpur Road, P.O. Box 4833 Karachi-74000, Pakistan Tel: 92-21-3241-0814 and 15 Fax: 92-21-3242-7315 Email: Janet@oicci.org Website: www.oicci.org Karachi Chamber of Commerce and Industry
Aiwan-e-Tijarat Road, Off Shahrah-e-Liaquat
Islamabad Chamber of Commerce and Industry Chamber House
Rawalpindi Chamber of Commerce and Industry Lahore Chamber of Commerce and Industry
Page | 81 Sarhad Chamber of Commerce and Industry
G.T. Road
Quetta Chamber of Commerce and Industry Zarghoon Road, P.O. Box 117
8.9. MANUFACTURING ASSOCIATIONS IN PAKISTAN
Pakistan Automotive Manufacturers Association (PAMA)
1st Floor, Block-C, Finance & Trade Centre, Sharea Faisal, Karachi. Pakistan.
Phone: (92-21) 35630992, 35630993 Fax: (92-21)35630995
Email: pamaftc@hotmail.com Website: www.pama.org.pk
Pakistan Association of Automotive Parts and Accessories Manufacturers
PAAPAM Head Office, 16-B, Westwood Colony, Thokar Niaz Baig, Lahore. Surgical Instrument Manufacturers Association of
Pakistan
Near Sublime Chowk, Marala Road, Sialkot, Pakistan.
Ph: +92-52-3562940, 3563014 & 3554890 Fax: +92-52-3554217
Website: www.simap.org.pk
All Pakistan Textile Mills Association APTMA House, 44-A,Lalazar, Off: Moulvi Tamizuddin Khan Road, Karachi-74000, Pakistan.
Phones :0092-21-111-700-000
Office No. 03, 2nd Floor, Al- Babar Center, F-8 , Markaz, Islamabad , Pakistan
Phone: (051) 2850300 – 2818251 Fax: (05) 2818252
E-mail: info@ppma.org.pk Website: www.ppma.org.pk
Pakistan Steel Melters Association
30-S, Gulberg Centre, 84-D/1Main Boulevard , Gulberg III-Lahore
Tel: 042-35759284/35712608 Fax: 042-35712608
E-mail: steelmelters@angelfire.com Website: www.steelmelters.com
8.10. FOREIGN BUSINESS OFFICES:
KOTRA PAKISTAN
Address: 10th Floor, Technology Park, ST-8, Shahrah-e-Faisal, Karachi, Sindh, Pakistan
Tel: +92-21) 3081~83 / Fax : +92-21) 3280-3086~7
E-mail : khiktc@cyber.net.pk Website: http://www.kotra.org.pk/
JETRO PAKISTAN
Address: 2nd Floor Block "B", Finance & Trade Centre
Address: 1st Floor, 89-B-II, Hussain Chowk, Gulberg III, Lahore.
Tel: (92 42) 35771985 (EXT: 2304) Website: http://abf.com.pk/
8.11. EMERGENCY & USEFUL CONTACT POINTS:
Page | 82 Service name Karachi (021) Lahore (042) Islamabad (051) Peshawar
(0521)
Quetta (081)
Faisalabad (0411)
Ambulance 115 115 115 115 115 115
Fire Brigade Center 16 16 16 16 16 16
Police Emergency 15 15 15 15 15 15
PIA Flight Enquiry 114 114 114 114 114 114
PIA Reservation 111-786-786 111-786-786 111-786-786 276162-3 820861 30460
Railway Enquiry 117 117 117 117 117 117
Telephone Enquiry 1236 1236 1236 1236 1236 1236
Telephone Complaints 1218 1218 1218 1218 1218 1218
---Page | 83 BIBLIOGRAPHY AND DATA SOURCES
Government of Pakistan official website URL: www.Pakistan.gov.pk
President of Pakistan official website URL: www.president.gov.pk
Economic Survey of Pakistan, Ministry of Finance, Pakistan
Ministry of Food and Agriculture: http://www.mnfsr.gov.pk/
Culture of Pakistan, presentation report, Islamic international University Islamabad, 2009:
http://www.scribd.com/doc/28187064/project-on-pakistani-culture
ITC Trade map: http://www.trademap.org/
Pakistan Bureau of Statistics (PBS): http://www.pbs.gov.pk/
Geological Survey of Pakistan (GSP): http://www.gsp.gov.pk/
Economic survey of Pakistan 2013-14: http://finance.gov.pk/survey_1314.html
Pakistan Board of Investment (BOI): http://www.boi.gov.pk/
Engineering Development Board (EDB) Pakistan: http://www.engineeringpakistan.com/
World Bank’s Doing Business ranking data: http://www.doingbusiness.org/
---Page | 84 APPENDIX 1: MAJOR MINERAL RESOURCES OF PAKISTAN
COMMODITY RESERVE
Iron ore 925 Low to high
grade
Page | 85
facilities near to main producing areas may help in value addition.
Basalt -do- High grade 21
Building stone -do- Medium to
high grade
Ebry stone Medium Medium to
high grade
Page | 86
-do-Onyx marble -do- Medium to
high grade
Ordinary stone -do- Low to high
grade
Sand / Bajri -do- High grade 92,67
0
-do-Sand stone -do- High grade 2,25
5
Slate stone -do- High grade 108,18
2
Ball clay Small Medium to
high grade
-do-China clay Medium Deposits Medium to high grade
-do-Page | 87
Brine Medium High grade 55,903
-do-Calcite Small to Medium High grade 15
-do-Celestite Small High grade 838
-do-Chalk -do- High grade 7,945
-do-Dolomite Large High grade 276,668
-do-Feldspar Very Large
Deposits
High grade 32,012
-do-Flint stone -do- High grade 73
-do-Fluorite 0.1 Low to
Lake salt Small High grade 16,035 Fair
potentia
-do-Page | 88
Limestone Large High grade 8,697,573 Raw
limestone not
exportable but cement clinker can be exported.
Magnesite 12 Medium
to high grade
4,535 Fair to good prospects for developing known and discovering new deposits. Some export can be achieved.
NON METALLIC CHEMICAL, FERTILIZER& INDUSTRIAL
Nephline Synite -do- Low to
medium
Orpiment Small Low to
medium
Quartz -do- High grade 485 Low cost
mineral with limited development potential.
Quartzite Small to medium Medium
to high
Page | 89
Soap stone Medium to large Medium
to high
Page | 90 APPENDIX 2: SECTOR WISE FDI INFLOWS (IN USD MILLION)
Sectors
2007-08
2008-09
2009-10 2010-11
2011-12 2012-13 2013-14
2014-15 (Jul-Sep)
Oil & Gas 634.8 0 0.6 0.2 0.4 0.6 465.1 86.2
Financial Business 1864.9 707.4 163 310.1 64.4 314.2 156.8 36.8
Textiles 30.1 36.9 27.8 25.3 29.8 10 3.7 7.8
Trade 175.9 166.6 117 53 25.3 5.7 -7.6 10.5
Construction 89 93.4 101.6 61.1 72.1 46 24.4 6.3
Power 70.3 130.6 -120.6 155.8 -84.9 28.4 46.6 18.7
Chemicals 79.3 74.3 112.1 30.5 96.3 71.6 88.4 23
Transport 74.2 93.2 132 104.6 18.7 44.1 -8.1 -1.9
Communication(IT&Tel
ecom) 1626.8 879.1 291 -34.1 -312.6 -385.7 583.3 -32.8
Others 764.5 763.4 586.3 416.3 282.6 872.6 278.7 14.9
Total including Pvt.
Proceeds 5409.8 3719.9 2150.8 1634.8 820.7 1447.3 1631.3 169.5
Privatisation Proceeds 133.2 0 0 0 0 0 0 0
FDI Excluding Pvt.
Proceeds 5276.6 3719.9 2150.8 1634.8 820.7 1447.3 1631.3 169.5
I.e.
26.7% decrease in Net FDI in 2014-2015 September) as compared to 2013-14 (July-September).Note: Pakistan’s Fiscal Year runs from 1st July till 30th June. The figures in brackets are in negative.
Page | 91 APPENDIX 3: COUNTRY WISE FDI INFLOWS (USD MILLION)
Country 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14
2014-15 (Jul-Sep) USA
1,309.3
0 869.9 468.3 238.1 227.7 223 206.4 41.5
UK 460.2 263.4 294.6 207.1 205.8 632.3 115.9 36.6
U.A.E 589.2 178.1 242.7 284.2 36.6 19.9 8.8 -8.7
Japan 131.2 74.3 26.8 3.2 29.7 30.7 18 10.8
Hong Kong 339.8 156.1 9.9 125.6 80.3 242.6 226.9 43.4
Switzerland 169.3 227.3 170.6 110.5 127.1 149 226.3 22.5
Saudi Arabia 46.2 -92.3 -133.8 6.5 -79.9 3.2 -47.8 -14.6
Germany 69.6 76.9 53 21.2 27.2 5 -0.5 0
Korea (Rep) 1.2 2.3 2.3 7.7 25.4 25.8 25.2 -2.3
Norway 274.9 101.1 0.4 -48 -275 -258.4 -21.6 17
China 13.7 -101.4 -3.6 47.4 126.1 90.6 700.3 -3.9
Others
2,005.2
0 1,964.20 1,019.60 631.3 289.7 283.6 173.4 27.2 Total including
Pvt. Proceeds
5,409.8
0 3,719.90 2,150.80 1,634.80 820.7 1447.3 1631.3 169.5 Privatisation
Proceeds 133.2 0 0 0 0 0 0 0
FDI Excluding Pvt. Proceeds
5,276.6
0 3,719.90 2,150.80 1,634.80 820.7 1447.3 1631.3 169.5 26.7% decrease in Net FDI in 2014-2015 (July-September) as compared to 2013-14 (July-September).
Note: Pakistan’s Fiscal Year runs from 1st July till 30th June. The figures in brackets are in negative.
