HOW TO
DO
BUSINESSINPAKISTAN?
Trade & Investment Guide

TRADE DEVELOPMENT AUTHORITY OF PAKISTANMINISTRY OF COMMERCE
November, 2023

Disclaimer
This booklet provides basic knowledge to potential investors and exporters. The aim of this guide is
to highlight the striking features of Pakistan’s emerging economy, liberal investment regime, export
potential, newly amended Companies law (2017), revised Corporate tax legislation andinitiatives/incentives introduced by Government of Pakistan for entrepreneurs and exporters.
Information and statistics used are correct as of November 2023 and may be subject to change. For
detailed and updated information regarding doing business in Pakistan, readers are advised to visit
the official site of the concerned authorities.
For any query or feedback regarding this document please contact at:
Malik Ismail Haider
Assistant Manager
Trade Development Authority of Pakistan
ismail.haider@tdap.gov.pk~ ii ~

Table of Contents
Pakistan: In General................................................................................... 1
Geography and Connectivity....................................................................................................................................................... 2
Demography ...................................................................................................................................................................................... 2
Language............................................................................................................................................................................................. 2
Currency.............................................................................................................................................................................................. 3
Religion................................................................................................................................................................................................ 3
Constitution ....................................................................................................................................................................................... 3
Government Structure .................................................................................................................................................................. 3
E-Government Initiative ............................................................................................................................................................... 3
Energy Prices .................................................................................................................................................................................... 3
Policy Rate.......................................................................................................................................................................................... 3
Labour employed and Wage rate.............................................................................................................................................. 4
Expanding Wholesale and Retail market .............................................................................................................................. 4
International Relations ................................................................................................................................................................. 4
Free Trade Agreements ........................................................................................................................................................... 5
Major Economic Indicators ......................................................................................................................................................... 6

Pakistan’s Investment Climate ............................................................... 7
Foreign Direct Investments’ Statistics ............................................................................................................ 8
Promoting Agency: Board of Investment .............................................................................................................................. 9Investment Incentives ................................................................................................................................................................... 91.

Non-Discrimination for foreign investors ............................................................................................................. 92.

No Minimum-Maximum capital requirement ...................................................................................................... 93.

Flexible financing requirements ............................................................................................................................. 10

4.

Protection for property rights................................................................................................................................. 10

5.

Right to due process of Law ..................................................................................................................................... 10

6.

Allowed foreign exchange and remittances....................................................................................................... 10

Business Facilitation ................................................................................................................................................................... 11
Investor Friendly Visa Policy .................................................................................................................................................. 12
Corporate Tax Incentives .......................................................................................................................................................... 12~ iii ~

Infrastructure Facilities Towards FDI ................................................................................................................................. 13
1.

Export Processing Zone.............................................................................................................................................. 13

2.

Special Economic Zones ............................................................................................................................................. 13

Incentives under Finance Bill 2020 ...................................................................................................................................... 17
Public Private Partnerships (PPPs) ...................................................................................................................................... 18
PPP at federal level ................................................................................................................................................................. 18
Scope and nature of PPP in Pakistan ............................................................................................................................... 18
Modes of PPPs allowed in Pakistan ................................................................................................................................. 19

Pakistan’s Trade Progress & Facilitation ....................................... 20
Pakistan’s Trade Performance ......................................................................................................................21
Export Profile ............................................................................................................................................................................ 22
Import Profile ........................................................................................................................................................................... 22
Trade Promoting Agency: Trade Development Authority of Pakistan .................................................................. 23
Activities...................................................................................................................................................................................... 23
Recent Publications ................................................................................................................................................................ 23
Export Facilitation ....................................................................................................................................................................... 23

A. Export Facilitation Schemes by Federal Board of Revenue (FBR) ................................................................... 23i.

Manufacturing Bonds Scheme ................................................................................................................................. 24

ii.

Export Oriented Units(EOU) and SMEs ............................................................................................................... 24iii.

Duty and Tax Remission for Export (DTRE) Scheme..................................................................................... 25

iv.

Temporary Importation Scheme............................................................................................................................ 25v.

Export Processing zone rules .................................................................................................................................. 25

B. Export Refinancing Schemes by State Bank of Pakistan (SBP).......................................................................... 26i.

Export Refinance Scheme.......................................................................................................................................... 26

ii.

Islamic Export Refinancing Scheme ...................................................................................................................... 26

iii.

Long Term Financing facility for Plant and Machinery (LTF) .................................................................... 27

iv.

Islamic Long Term Financing Facility for Plant and Machinery(ILTFF) ................................................ 27

C. Duty Drawback Schemes by Ministry of Commerce .............................................................................................. 27i.

“SRO. 711(I)/2018” dated June 8th, 2018 for non-textile sector ............................................................. 27ii.

Notification No.1(42-B) TID/18-TR-II” for textile sector ...............................................................27

D. Import Tariff Rationalization ........................................................................................................................................... 28
E.

Imported items exempted for Sales tax............................................................................................................... 28~ iv ~

F.

Imported items exempted for Federal Excise duty ........................................................................................ 28

Doing Business in Pakistan ................. Error! Bookmark not defined.
Steps to Start Business in Pakistan ....................................................................................................................................... 30
Step 1: Register a business .................................................................................................................................................. 30
Step 2: Apply for construction permit ............................................................................................................................ 30
Step 3: Apply for electricity connection ......................................................................................................................... 31
Step 4: Register a property.................................................................................................................................................. 31
Step 5: Register and pay taxes ........................................................................................................................................... 31
Step 6: Customs Clearance................................................................................................................................................... 31
Pakistan’s Doing Business performance in DB 2020...................................................................................32
6th EODB Reform Plan for DB 2022 ...................................................................................................................................... 33

Pakistan’s Companies Act. .................................................................... 34
Companies Act, 2017 .................................................................................................................................................................. 36
Mode of forming a company .................................................................................................................................................... 36
Incorporation ................................................................................................................................................................................. 36
Documentation .............................................................................................................................................................................. 37
Meeting and Procedures ........................................................................................................................................................... 37
Key Personnel ................................................................................................................................................................................ 38
Compliance ..................................................................................................................................................................................... 40
Restrictions and prohibitions.................................................................................................................................................. 40
Related party transactions ....................................................................................................................................................... 41
Company accounts....................................................................................................................................................................... 42
Dividend ........................................................................................................................................................................................... 42
Power of registrar ........................................................................................................................................................................ 42
Amalgamation of wholly owned subsidiaries in holding company ......................................................................... 43
Winding up by court.................................................................................................................................................................... 43

Pakistan’s Corporate Tax Regulation .................................................45
Corporate Income Tax ................................................................................................................................................................ 46
Capital Gain Tax ............................................................................................................................................................................ 47
Withholding Tax ........................................................................................................................................................................... 47
Withholding tax paid in relation to exports ................................................................................................................. 48~v~

Pakistan’s Trade and Investment Facilitation Missions in theWorld ........................................................................................................ 49
Important Links........................................................................................ 73~ vi ~

List of Tables
Table 1: City hours ahead or behind Pakistan.............................................................................................................. 2
Table 2: Age structure in Pakistan .................................................................................................................................... 2
Table 3: FDI inflows by origin of countries- USD Millions....................................................................................... 8
Table 4: FDI inflows according to sectors- USD Millions ......................................................................................... 8
Table 5 : Highlights of the Investment incentives in Pakistan ............................................................................. 10
Table 6: List of countries having Bilateral investment treaties with Pakistan.............................................. 11
Table 7: Enterprise/activity specific tax incentives................................................................................................. 12
Table 8: Yearly Trade overview of Pakistan ............................................................................................................... 21
Table 9: Reforms for DB 2022 to be completed in year 2020 .............................................................................. 33
Table 10: Rate applicable for Capital gain.................................................................................................................... 47
Table 11: Withholding Tax rates for resident and non-resident companies ................................................. 47
Table 12: WHT in relation to exports ............................................................................................................................ 48

List of Figures
Figure 1: Pakistan at a Glance ............................................................................................................................................. 4
Figure 2: List of Trade Agreements signed by Pakistan ........................................................................................... 5
Figure 3: Economic indicator for the period July-June FY20.................................................................................. 6
Figure 4: Priority sectors for FDI ....................................................................................................................................... 9
Figure 5: Trends in Pakistan's Trade Year-wise........................................................................................................ 21
Figure 6: Steps to start business in Pakistan .............................................................................................................. 30
Figure 7: Corporate tax structure in Pakistan ............................................................................................................ 46~ vii ~

ACRONYMS
ADB

Asian Development Bank

BOI

Board of Investment

BOT

Build Operate Transfer

DB

Doing Business

DTRE

Duty and Tax Remission for Exports

ECO

Economic Cooperation Organization

EFS

Export Finance Scheme

FED

Federal Excise Duty

FDI

Foreign Direct Investment

FBR

Federal Board of Revenue

GDP

Gross Domestic Product

IERS

Islamic Export Refinance scheme

IMF

International Monetary Fund

ILTFF

Islamic Long term financing facility

LDA

Lahore Development Authority

LESCO

Lahore Electric Supply Company

LTFF

Long term financing facility

NAPHDA

Naya Pakistan Housing and Development Authority

NEPRA

National Electric Power Regulatory Authority

MoU

Memorandum of understanding

OIC

Organization of Islamic Cooperation

PITB

Punjab Information Technology Board

PPE

Property Plant and Equipment

SAARC

South Asian Association for Regional Cooperation

SBCA

Sindh Building Control Authority

SECP

Securities and Exchange Commission

SMEs

Small and Medium Enterprises

SEZ

Special Economic Zone

UNCTAD

United Nation Conference on Trade and Development

UNO

United Nation Organization

WHT

Withholding tax

WTO

World Trade Organization~ viii ~How to do business in Pakistan?

Section 1:

Pakistan: In General~1~How to do business in Pakistan?

London(UK)Sydney (Australia)
New York (USA)
Ottawa (Canada)

Pakistan, with a total area of more than
750,000, square kilometers, is the 33rd largest
country in the world.
Its neighboring countries includes Iran, India,
China and Afghanistan. Pakistan is also blessedwith 1,046 km long coastline along the Arabiansea with three well established sea ports:
Karachi port (Sindh), Muhammad Bin Qasim
Port (Sindh) and Gwadar port (Balochistan).
Pakistan’s
geographyisstrategicallysignificant given its connectivity with different
regions including Western China, Afghanistan
and Central Asian Republicans such as
Turkmenistan, Tajikistan, Kazakhstan andUzbekistan. Hence, all the above mentioned
ports hold strategic importance.
Pakistan comprise of four provinces (subadministrative units): Balochistan, Khyber
Pakhtunkhwa, Punjab and Sindh. Major cities
of Pakistan are: Islamabad, Karachi, Lahore,
Sialkot, Faisalabad, Multan, Quetta, Hyderabad
and Peshawar.
Pakistan’s geographical coordinates put its
time scale 5 hours ahead of “Greenwich MeanTime” GMT, table below shows the timedifference between Pakistan and major world
cities.

-4
+5
-9
-9

Pakistan: In
GeneralGeography and Connectivity

Demography
With a population of 241.5 million Pakistan isthe fifth most populated country in the world1
and forth most populated country in Asia after
China, India and Indonesia. With the current
population growth rate of 2.5% per annum,
population of Pakistan by 2030 shall be 260
million. Currently, the most populated cities
are: Karachi (11.62 million), Lahore (6.3
million), Faisalabad (2.5 million), Rawalpindi(1.7 million) and Multan (1.4 Million).
Pakistan has mostly young and working class
population. The median age in Pakistan is 20.6
years2. Demographically, more than 62%3 of
the population over 10 years of age is literate
and 34.7% total population4 resides in cities.
Table 2: Age structure in Pakistan
Age group<10 years
10-24 years
25-50 years>50 years

Table 1: City hours ahead or behind
Pakistan%of
population
17%
36.76%
36.91%
9.25

total

Source: Author’s estimate based on PBS data

Language
City (Country)
Beijing (China)
Dubai (UAE)
Delhi(India)
Dhaka(Bangladesh)
Tokyo (Japan)

Pakistan’s official languages are Urdu andEnglish. All the official documents which are to
be submitted with public sector authorities
must either be in Urdu or English. However,English is widely used and understood in tradeand business circles all over Pakistan.

Time Diff.
+3
+1
+0.3
+1
+4

1 UN data United Nations, Department of Economic and Social Affairs, Population Division
2 ibid3 PBS (Percentage distribution of population by age, sex, literacy and level of education 2017-18)
4 ibid~2~

How to do business in Pakistan?

Currency

electoral college comprising members of thelower and the upper houses as well as themembers of assemblies of provinces also for aterm of 5 years.
The current Prime Minister of Pakistan is Mr.
Anwar-Ul- Haq Kakar who 8th caretaker Prime
Minister of Pakistan on 14th August 2023. The
incumbent president is Mr. Arif-ur-Rehman
Alvi. The next general election in Pakistan shalltake place by the late 2023.

The domestic currency is Pakistani Rupee.

Religion
Pakistan is an Islamic republic. However,freedom of worship for all religions isprotected under the constitution.

Constitution
The legal framework of republic of Pakistan isbased on 1973 constitution

E-Government Initiative

Government Structure

E-Government Directorate was established in2020 under Ministry of Information &Technology with a view to deliver better
public services to enhance government
efficiency with more digitally, economicallyand bring the public closer to the government.
As in the developing countries, government ofPakistan also has taken initiatives and started
e-Government projects in the whole country toprovide better e-services in a more convenientand cost-effective way to not only the citizens
of Pakistan but foreign investors andbusinessmen and government dignitaries who
work in Pakistan. The foremost priority is toincrease the transparency and responsibility
within government.

Pakistan has been a parliamentary democracywith dichotomy of power between Executive,
Legislature and Judiciary.
The Legislature comprises two houses: The
National Assembly (the lower house) and the
Senate (the Upper house). Members ofnational and the provincial assemblies areelected through a direct vote. However, someseats are reserved for females, ministries
which are nominated by the parties5. Membersof the upper house are elected through anindirect voting comprising electoral college ofmembers of national and provincial
assemblies. However, some seats are reserved
for females and minorities which arenominated by the parties. 6
The apex judicial authority of Pakistan is theSupreme Court headed by Chief Justice ofPakistan. The High Courts, District Courts andthe lower courts at sub division level function
under administrative authority of supreme
court of Pakistan. The courts are independentand have judicial powers.
The Executive authority of country is Cabinetof Pakistan headed by the Prime Minister.
Members of both houses of legislature electthe Prime minister for a term of 5 years while
the President, Head of State, is elected by

Energy Prices
The price of electricity (March 2023) is 0.088
U.S. Dollar per kWh for households and 0.137
U.S. Dollar for businesses which includes allcomponents of the electricity bill such as thecost of power, distribution and taxes. The
average price of electricity in the world for thesame period is 0.159 U.S. Dollar. 7 However,special rates are applicable to various exportoriented and service industries.

Policy Rate
The current policy rate in Pakistan is 7%

5 www.na.gov.pk
6 www.senate.gov.pk7 Globalpetrolprices.com~3~

Labour employed and Wage rate

population (73% under 35 years) and growing
middle class income.

In Pakistan the total labour employed is over
67.2 million 8 . According to the ILO data,
Pakistan is amongst the few Asian countries
where the minimum wage rate earns a meagre
amount (US$120 per month). The minimum
wage is less than the minimum wage rate in
China where the rate is USD 217 per month. 9International Relations
Pakistan believes in peaceful coexistence andcooperation with the world. As an importantand active member of various internationaland regional organizations and agencies/institutions,i.e.,
UnitedNations
Organization(UNO),
World
Trade
Organization (WTO), South Asia Association ofRegional Cooperation (SAARC), OrganizationofIslamic
Countries(OIC),
Economic
Cooperation Organization (ECO), Shanghai
Cooperation Organization (SCO) 10 , World

Expanding Wholesale and RetailmarketRetail is a prominent sector in Pakistan after
agriculture and manufacturing. Strengths ofthe country for an expanding retail market
includes increasing population, majorly young
Figure 1: Pakistan at a Glance

Population
220 million
Currency
Pak
RuppeeArea:
796,096sq.km
Capital city
Islamabad
Location• SouthAsia

Major Industries
Textile, Cements, Fertilizers,
Steel, Sugar, Shipbuilding
and Electric goods

Fiscal Year:
01 July - 30
June

Major Crops
Wheat, Rice, Sugarcane,
Cotton and Maize

Major Exports
Textile, Garments, Rice,leather items, carpets, sports
goods, Handicrafts, Fish andFish preparations and Fruits

8 Labour Force Survey 2022-239 ILO, Global Wage report 2022-2310~4~

Major energy resources
Petroleum, Thermal, Gas,
Coal, Nuclear

Major Imports
Industrial Equipments,
Chemicals, Vehicles, Steel,Iron Ore, Petroleum, Edibleoil, Pulses and tea

Pakistan: In
General

How to do business in Pakistan?

How to do business in Pakistan?

Bank, International Monetary Fund, AsianDevelopment Bank and others, Pakistan
always promotes its interests throughcooperation, compliance of international law,treatiesandmutualrespect
andunderstanding.
Besides, Pakistan has bilateral arrangement
treaty: Trade and Investment Framework
Agreement (TIFA), with the United States ofAmerica.

world. Pakistan has thus signed Barter Trade
Agreement with Afghanistan, Iran and Russia
and Quadrilateral Traffic in Transit Agreement(QTTA) with China, Kyrgyzstan andKazakhstan, for facilitating transit traffic andtrade11.
Figure 2: List of Trade Agreements signed
by Pakistan.

Free Trade Agreements

Pak-Sri Lanka Free Trade
Agreement (PSFTA)

Pakistan is firm believer in blessings ofglobalization and economic integration which
are important for eliminating trade barriersand creation of enabling environment throughcooperation and competition. Market access isvital for export development, industrial
growth, job creation and fighting poverty. The
Free Trade Agreements are critical for tradedevelopment especially for the developingworld because they help increase volume oftrade and eliminate unhealthy and trade
restrictive measures. To achieve theseobjectives, Pakistan has been looking for Free
Trade Agreements (FTAs) with partnercountries in the world.
Pakistan has successfully concluded FTAs with
People’s Republic of China(PRC), Democratic
Socialist Republic of Sri Lanka (DSRSL) andPersekutuan Malaysia. Pakistan is negotiating
FTAs with Thailand and Turkey. Pakistan ismember of another Free Trade Agreement:
South Asia Free Trade Agreement. In addition
to FTAs, Pakistan has signed Preferential
Trade Agreements (PTAs) with the Islamic
Republic of Iran and the Republic of Indonesia.
Pakistan is located at strategic position inSouth Asia. Landlocked countries like
Afghanistan and Central Asian States utilize
Pakistan routes and ports for trading with the

Pak-Malaysia Closer Economic
Partnership Agreement

Pak-Mauritius Preferential Trade
Agreement

Pak-Indonesia Preferential Trade
Agreement

Pak-Iran Preferential Trade
Agreement

Pak-USA Trade & Investment
Framework (TIFA)

Pak-China Free Trade Agreement

South Asian Free Trade Area.

~5~

Major Economic Indicators
Pakistan is a resilient economy, its real GDP,showing positive growth in recent years
despite significant challenges like the global
recession. With abundant natural resources,
huge and mainly young population, growing
industrial, agriculture, and services andincreasing trade the country is on the path ofstabilization.
For the fiscal year FY21, the outbreak of
COVID-19 devastated global trade andthreatened food security among many
countries, IMF’s world economic outlook in its
October 2023 update estimated that global
economic growth had reduced by 3.5% in
FY22. In Pakistan the pandemic largely
hampered the activities of manufacturing,retail, transport and trade and reduced thereal GDP growth percentage to 0.3% .12
In a bid to revive the economy, Pakistan cameup with economic stimulus package and social
safety program to avoid major economic andhuman crisis. Prudent monetary and fiscal
policies and improving current accountbalance supported the economy in the Post
COVID period. In the last wave of FY23
Consumer confidence has shown an upward
trajectory in a row which shows that the
pandemic’s impact on the economy andconsumer is slowly tapering off.

Figure 3: Economic indicator for the period
July-June FY20
Indicators

FY22

FY23

GDP Current
price(Rs./Billion)

66.62384.657

ConsumerPrice Inflation(average)

8.5

11.5

Workers’
Remittances(USD Billion)

29.87

27.03

Foreign Direct
Investments(USD Billion)

1.85

1.45

Current
account
Balance (% ofGDP)
Export (USD
Billion)

-3.22

-0.7

28.32

30.94

80.13

55.29

Import (USD
Billion)Source: SBP, PBS

12 Source: International Monetary Fund, SBP (annual report 2019-20)~6~Pakistan: In
General

How to do business in Pakistan?

How to do business in Pakistan?

Section 2:

Pakistan’s Investment
Climate~7~

Foreign Direct Investments’ Statistics
A relatively convivial legal environment for
FDI 13 , abundance of cheap labor, lucrative
investment policies and a strategic
geographical position of Pakistan has madethe country a suitable candidate forinternational investors in the industrial andmanufacturing sector. Pakistan seeks greater
foreign direct investment in order to boost its
economic growth, particularly in the Power,
financial, information and communications
and industrial sectors.
In Pakistan, FDI has improved from year 2015
to year 2018 and then majorly fell in year 2019because of the rupee depreciation. In FY22 net
FDI inflows in Pakistan surged 21% to USD
1.82billion from USD 1.4 billion as received in
FY21.

2020-21 2021-22

China
UK
USA
Hong Kong
•

751.6
141.0
66.4
157.2

531.6
31.8
249.6
137.7

61.7
115.7
36.3
96.9
1.0
(13.0)
13.4
305.7

146.2
143.9
34.8
104.1
0.0
(12.3)(0.03)
500.7

134.0
180.1
8.6
71.9
(0.3)
1.83.0
17.6
173.4

Total

1820.51867.81455.8Source: BOI

Table 4: FDI inflows according to sectorsUSD Millions
SectorOil & Gas
FinancialBusiness
TextileTrade
Construction
Power
Chemicals
Transport
Communication
Others
Total

Table 3: FDI inflows by origin of countriesUSD Millions

Country

Switzerland
UAE
Italy
Netherlands
AustriaJapan
TurkeyOthers2022-23

432.2
65.0
89.3
101.0

2020-21 2021-22

251.0
236.4

195.3
405.3

2.6
115.9
31.1
911.7
0.9
(93.6)
117.1
247.4
1820.5

3.6
11.5
79.9
45.3
36.5
19.0
737.6
622.6
29.3
49.7
34.8
40.2
118.9
59.3
226.6
198.0
1867.8 1455.8

Source: BOI

13 FDI: Foreign direct investment involves establishing a direct business interest in a foreign count

~8~

202
2-23

135.1
275.1

Pakistan’s
Investment

How to do business in Pakistan?

How to do business in Pakistan?

Figure 4: Priority sectors for FDI

Food Processing

TextileLogistics

Housing &Construction

Oil and Gas

Automobiles

Communication

IT & ITes

Financesegments of the country, except those
restricted for reasons of national security andPromoting Agency: Board of
Investment

public safety like arms and ammunitions; highexplosives; radioactive substances; securities,
currency and mint; and consumable alcohol.

The specialized investment promotion agency
of Pakistan is the Board of Investment (BOI).
BOI is responsible for the promotion of
investment, assists companies and investors
who intend to invest in Pakistan, facilitates theimplementation and operation of theirprojects and enhance Pakistan’s international
competitiveness. BOI work in coordination
with SBP, SECP, Ministry of Finance topromote foreign investment in insurance,banking and financial sectors.
Official website: https://invest.gov.pk/home2.
No Minimum-Maximum capitalrequirement
There is no minimum requirement for theamount of foreign equity investment in any
sector. Investment policy of 2023 has also
relaxed the limit of equity caps for most of thesectors. Foreign investors will be allowed tohold a 60% stake in agriculture and can have
100% equity (ownership) except for banking,airline, agriculture and media sectors.
• For banking sector, State bank of Pakistan
is the sole supervisory and regulatory
authority.14• For services sector, foreign investors may
have 100% equity, after having a noobjection certificate from the concerned
agency/sector.
• In education, health and infrastructure
sectors full ownership is allowed.
• A slab of maximum 60% equity is set for
agriculture projects while for corporate

Investment Incentives
1. Non-Discrimination for foreign
investors
The existing investment policy of Pakistanoffers non-discriminatory regulations forforeign investors. Foreign investors canestablish and own, operate and dispose ofinterest in most type of the businesses inPakistan. The existing FDI policy is open for all

14 The authorization/issuance of a commercial banking license has been vested in State bank of Pakistan (SBP under

section 27 of the Banking Companies ordinance,1962~9~

agriculture farming 100% ownership isallowedifthesubsidiaries
areincorporated into Pakistan.

Investors are allowed to go for international
arbitration in case of disputes arising from anagreement (if that provision is provided in thecontract) and after exhaustion of local
remedies for a period of 6-months. In addition
to these, the expanding network ofinternational investment and free trade
agreement also ensures smooth and efficient
provisions for dispute settlement.

3.
Flexible financing requirements
In order to address the financing needs foreign
investors are allowed to acquire loan, for any
business activity, from domestic (subject toprevailing rules/ regulations of SECP and SBP
and observance to Debt-Equity ratio) as well
as foreign private entities. Currency exchange
option is available for Pakistani currency into
other foreign currency15.

6.
Allowed foreign exchange andremittances
Bringing in of foreign currencies is permitted
without any limit. Travelers leaving Pakistan
are allowed to physically carry a maximum of$10,000 in cash. For domestic currency,
travelers can carry maximum of Rs. 3000 for
India a maximum of Rs. 500 is permitted.
Cross-border payments of interest, profits,dividends, and royalties are allowed without
submitting prior notification, banks are
required to report loan information so SBP canverify remittances against repayment
schedule

4.
Protection for property rights
Pakistan’s legal and investment climate
supports the enforcement of property rights
and both local and foreign owner interest.
Foreign companies can lease farmland for up
to 50 years, with renewal options. Foreign
Private Investment Promotion and Protection
Act 1976 guarantees the remittance of profits
earned through the sale or revaluation ofproperty.
5.

Right to due process of Law

Table 5 : Highlights of the Investment incentives in Pakistan
Policy Parameter
Manufacturing
Non-Manufacturing Sector
SectorAgricultural
Infrastructure
Servicesand Social
Govt. Permission
Not Required
Not Required except specific licenses from
16
(Except some )concerned agencies
Remittance ofAllowedAllowedcapital, profits,dividends, etc.
Upper Limit of
100%
60%, 100%
100%
100%
foreign equity
for CAF17
allowed

15 Foreign Exchange regulations of SBP and Investment policy 2023
16 (Except for Arms and Ammunitions, High Explosives, Radioactive substances, Security Printing, Currency, alcohol

manufacturing)
17 CAF is the corporate Agriculture farmin~ 10 ~

Pakistan’s
Investment

How to do business in Pakistan?

How to do business in Pakistan?

Customs duty on
import of PME18
Tax relief (IDA19, %of PME cost)
Royalty & Technical
Fee

5%

0%

5%

5%

25%

25%

No restriction

Allowed as per guidelines - Initial lump-sum up to$100,000 - Max Rate 5% of net sales - Initial period 5
years

Source: BOI

Business Facilitation20
Government of Pakistan is working with theWorld Bank to improve Pakistan’s businessclimate. Pakistan ranked 108 out of 190
countries in the World Bank Doing Business2020 report’s “Starting a Business” category.
The procedures for registration have been
simplified. Board of Investment has also
instituted an online registration procedure forforeign companies entering and operating inPakistan. In addition to this, land records areautomated, requirements for obtaining
construction and utility permits are madeeasy, online/electronic tax payments method
is introduced and cross-border trade isfacilitatedbyimproving
electronic
submissions and processing of trade
documents.21
Furthermore, till date Government of Pakistan
has signed 53 Bilateral Investment treaties, ofwhich 32 are in force2

Table 6: List of countries having Bilateral investment treaties with Pakistan
Austria
Korea
UAE
Bahrain

LebanonUK

Bosnia

Mauritius

Uzbekistan

China

Romania

Portugal

Denmark

Singapore

Spain

FranceSri Lanka

Netherlands

Germany

Sweden

Italy

Iran

Switzerland

BLEU23Japan

Tajikistan

Laos

Kazakhstan

Turkey

Oman

Syria

KuwaitAzerbaijan

18 Property, Plant and Equipment
19 Initial Depreciation Allowance
20 Section 5 of the report explains the current and upcoming reforms in business facilitation in Pakistan
21 Starting a business in Pakistan normally involves 5 procedures and takes at least 16.5 days. For more information, seesection: doing business in Pakistan22 https://investmentpolicy.unctad.org/international-investmentagreements/countries/160/pakistan23 BLEU (Belgium-Luxembourg Economic Union)~ 11 ~

Investor Friendly Visa Policy

managerial personnel are allowed for multiple
entry 1-year work visa. The duration can beextended on yearly basis subject to approvals.
The processing time of work visa is 4 weeks.
No registration with the police is required forthe work visas.
Online application is allowed for both the firsttime (new visa) and extension of existing valid
visa.

The existing visa policy of Pakistan is quite
comfortable for foreign business persons.
Under the visa policy of Pakistan, businessmen
from countries listed under the category of“BVL countries” (see: BVL countries
https://visa.nadra.gov.pk/business-visa-listbvl/ )are allowed for:
1. A 5-year multiple entry visa within 24
hours
(for
“Non-BVL
countries”
processing time is 4 weeks)
2. A single entry 30 days on arrival visa
In addition to this, foreign technical andCorporate Tax Incentives
Government of Pakistan has announced
various tax incentives including tax
exemptions, tax holidays and tax credits

Table 7: Enterprise/activity specific tax incentives
Source: 2nd schedule of Income tax ordinance,2001 (amended up to 30th June 2020)

Type of Enterprise/Activity

Tax Exemption/reductions

Employing fresh graduates

Tax credit equal to the amount of salary paidin the year of employment
Profits and gains are fully exempt

Electric power generating company
Exporter of Computer software, IT services,
IT enabled services
Refineries, set btw1 July 2018- 30 June 2023

Exempt till 30th June 2025, where 80% of
export proceeds are brought into the
Pakistan
Exemption for 20 years (contingent)

Low-Cost housing projects

50% exempt (contingent)

Projects under NAPHDA24 and Ehsaas25
Program
Enterprises set up in ‘special Economic Zones’

90% exempt

Liquefied natural gas terminal operators andownersSmall companies26

Fully exempt for 10 years or 5 years(conditions apply)
Fully exempt for 05 years
Reduced income tax rate of 23%

24 Naya Pakistan Housing and Development Authority
25 Ehsaas is the biggest and boldest programme ever launched in Pakistan to uplift marginalized people. Detail of projects

https://www.pass.gov.pk/home
26 Small companies: registered on and after 1 July 2005, has paid up capital plus undistributed reserves not exceeding Rs. 5
million, has employees not exceeding 250 at any time during the year, has annual turnover not exceeding Rs. 250 million
and is not formed by splitting up or the reconstitution of business already in existence.

~ 12 ~

Pakistan’s
Investment

How to do business in Pakistan?

How to do business in Pakistan?

to promote investment and industrializationin the country.
Furthermore, over 66 bilateral tax treaties
have been signed by Government of Pakistan,
the number is still growing. (see list of fullscope bilateral treaties
https://fbr.gov.pk/bilateral-full-scopetreaties/152329 )8. Domestic market available to the extent of
20%. Exceptions may be available
9. Presumptive tax @ 1%
10. Only EPZA is authorized to collect
Presumptive Tax at the time of export ofgoods which would be final tax liability
11. Obsolete/old machines can be sold indomestic market of Pakistan after
payment of applicable duties & taxes
12. Defective goods/waste can be sold indomestic market after payment ofapplicable duties, maximum up-to 3% of
total value
13. EPZ units allowed to supply goods toCustom manufacturing bonds
Relevant Agency
ExportProcessing
Zone
Authority:
https://epza.gov.pk/

Infrastructure Facilities Towards FDI
1.

Export Processing Zone

Established in 1980, the EPZA is one of the
fast-growing projects undertaken by thegovernment. Export Processing Zones
Authority is a Pakistan Government venture
conceived and designed to increase andimprove the exports of the country. Its main
objectives are accelerating the pace ofindustrialization in the country and enhancing
the volume of exports by creating an enabling
environment for investors to initiate
ambitious export-oriented projects in theexport processing Zones27 which would, as acorollary, create job opportunities, bring in
new technology and attract foreign
investment.

2.

Special Economic Zones

The Investment policy Act 2013 necessitate
the provision of setting up of Special Economic
Zones28 throughout the country to meet global
competitiveness efficiently and effectively.
The Federal Government and Provincial
Governments may establish special economic
zones by themselves or in collaboration withprivate parties under various modes ofcollaboration including public- private
partnership or exclusively through the private
parties as provided under the special
economic zone act ,2012 (amended 2015).
Under SEZ act private sector can also establish
SPZs with the approval of the Government.
Minimum land requirement for establishing
SEZ is fifty (50) acres.

Incentives for EPZ includes:
1. Developed land on competitive rates for
30 years
2. Duty-free import of machinery, equipment
and materials
3. Freedom from national import regulations
4. Exchange control regulations of Pakistan
not applicable
5. Repatriation of capital and profits
6. No sales tax on input goods including
electricity/gas bills
7. Duty-free vehicles allowed under certain
conditions

27 Means an economic zone which is establishes under the EPZA ordinance, 1980 (for economic, industrial and commercial

activities)
28 “Special Economic Zone” or “(SEZ)” means a geographically defined and delimited area which has been approved and notified by the
Board of Approval.

~ 13 ~

How to do business in Pakistan?

Incentives for SEZ includes

machinery ( the scope of Property Plant and Machinery has been
expanded to include IT sector, Storage communication, andinfrastructurein development in Finance bill 2020) imported into
the SEZ (except items of Chapter 87 of Pakistan Custom Tariff)• Income Tax Exemption for five years from the date ofdevelopment agreement

For Developer• One-time custom duties exemption on plant and machinery(except Chapter 87)• Income tax exemption for 10 years for units starting production
and 5 years for the units starting production thereafter

For Zone
Enterprises

Co-developers• Same incentives as provided for developers as per the Finance

Other facilities• One- Window facilities by BOI• Dry port facilities• Security arrangments by provincial governments• All utilitie and infrastructure till zero point of zone

bill 2020

Approved /Notified SEZs

Name of SEZ

Location

Khairpur SEZ

Sindh

AllamaIqbal
Industrial City SEZ

Punjab

Bostan SEZ

Balochistan

Developer29

Type of Industry

PublicAgro Food Processing, light
Engineering and Manufacturing
Faisalabad Industrial Textile, Engineering, Electrical
Estate Development and Electronics,
Chemical,andManagement Paints, Agriculture and Food
Company
Processing, Steel and Packaging
Industries
Fruit Processing, Agricultural
Department, Gov. of Machinery, Minerals and Gems,
Balochistan
Ceramic Industries, Ice and Cold
Storage, Electrical Appliances,
Motor
Bike
assembly,
Pharmaceutical and Halal foodindustry

29 Developer means an enterprise which has entered into a development agreement with a SEZ Authority~ 14 ~

Pakistan’s
Investment• One-Time exemption of all custom duties and taxes on Plant andHow to do business in Pakistan?

Hub SEZ

Balochistan

Bin Qasim SEZ

Sindh

Korengi
Creek
Industrial Park

Sindh

Quaid-e-Azam
Apparel Park

PunjabNaushehro
FerozeIndustrial Park

Sindh

HattarSpecialEconomic Zone

Khyber
Pakhtunkhwa

M-3industrial City

PunjabRachnaPark

PunjabIndustrial

LasbelaIndustrial Textile, Pharmaceutical, Cement
Estates Development manufacturing,Food&
Authority (LIEDA)
Confectionary
Industries,
Chemical Industries, Plastic,
Paper Manufacturing, Printing &Packaging, Ceramics, Marble
Processing, Mineral Grinding
National
Industrial Light Engineering, Auto & Allied,
Parks Development & Foundry
andFabrication,
Management
Warehousing & Logistics, Mixed
Company (NIP)
Used
National
Industrial Low Density Zone: Light
Parks Development & Engineering, Food Processing,Management
Consumer
Food&
Company (NIP)
Pharmaceutical
Products,
Garments / Value added
Textiles, Packaging & Printing &Warehousing/Logistics
High
Density Zone: Commercial andBusiness Centers, Information
Technology, Gems & Jewelry
PunjabIndustrial Textile and Apparel related
Estates Development industries&
Management
Company (PIEDMC)
National
Industrial Agro Food Processing, Agro
Parks Development & Non-Food Processing, Light
Management
Engineering, Mixed Used
Company (NIP)
Food and beverage, Khyber Pakhtunkhwa Economic
Agro-processing,
Zones
Development
andTextile,Crockery, Management
Company
Paper
printing, (KPEZDMC)
Chemical,Cement,Engineering
Faisalabad Industrial Textiles, Engineering, Electrical
Estates Development & Electronic, Chemical & Paints,&
Management Food
Processing,Company (FIEDMC)
Pharmaceuticals, Automobiles,
Packaging and Building Material
National
Industrial Auto Parts, Leather Products,
Parks Development & Packaging and Food Processing~ 15 ~

Management
Company (NIP)
PunjabIndustrial
Estates Development&
Management
Company (PIEDMC)

BhalwalEstateIndustrial

Punjab

VehariEstateIndustrial

PunjabPunjabIndustrial
Estates Development&
Management
Company (PIEDMC)

Rahim Yar Khan
Industrial Estate

RYK, Punjab

PunjabIndustrial
Estates Development&
Management
Company (PIEDMC)

Rashakai
Nowshera

Khyber
Pakhtunkhwa

Khyber Pakhtunkhwa
Economic
Zones
Development
andManagement
Company (KPEZDMC)
Faisalabad Industrial
Estates Development&
Management
Company (FIEDMC)

SEZ

Value Addition City

Faisalabad,
PunjabOil Village SEZ

Rawalpindi,
PunjabIslamabad

National Science &Technology Park
(NSTP)

Frontier Oil Company
National University of
Science & Technology~ 16 ~

units besides other auxiliary,
industries, Mixed Used
Citrus Processing Industry,
Frozen Concentrated Juice
Industry, Pharmaceuticals, Seed
& Crops Unit, Packaging
Industry, Storage Industry,
Paper Industry, Flour Mills,
Plastic Products, Footwear,
Textile, Warehouse
Handicrafts, Chemical Industry,
Ginning Mills, Agro Based
Industry,
Shoe
Industry,
Pesticides,
Pharmaceuticals,
Packaging Industry, Storage
Industry, Paper Industry, FlourMills, Plastic Products, Textile,
Cold Storage, Warehouse
Oil Mills, Chemical Industry,
Ginning Mills, MDF Production,
Wood
Plastic
Composite
Production,
Pesticides,
Polypropylene Woven Bags,
Pharmaceutical,
Packaging
Industry, Storage Industry,
Paper Industry, Flour Mills,
Plastic Products, Textile, Cold
Storage, Warehouse
Light Engineering, Automotive,
Construction
andFood
Processing

Textiles, Engineering, Electrical& Electronic, Chemical & Paints,
Food
Processing,
Pharmaceuticals, Automobiles,
Packaging and Building Material
Storage for Oil Marketing
Companies
National Science & Technology
Park (NSTP) is the first fully
integrated science and technology
park (STP) and the first STP of the

Pakistan’s
Investment

How to do business in Pakistan?

How to do business in Pakistan?
country

Service Long March
Jamshoro,
Tyre Special Economic Sindh
Zone

Service group

Siddiqsons Tin Plate
SEZ

Siddiqsons Group

Hub,
Balochistan

Source: BOI~ 17 ~

Service Long March Tyres, acollaborationofChina’s
Chaoyang Longmarch Tyre, andPakistan’sService
Group,
inaugurated Pakistan’s first allsteel radial Truck/Bus tyre plant
Pakistan’s first Sole Enterprise(SEZ) is situated on 50 acres inNooriabad, an industrial town
Siddiqsons Tin Plate Limited
is the first and only Tin Plate
Industry in Pakistan.
Established in 1999, in
collaboration with SOLLAC ofFrance and MITSUBISHICORPORATION of Japan.

How to do business in Pakistan?

Incentives under Finance Bill 202030
For SEZs
Concessions and Exemptions available
to the developers of SEZs may be
extended to co-developers.
Expansion in scope of items exempt
from customs duty, that are imported
for setting up of a Special Economic
Zone (SEZ) by zone developers and for
installation in that zone by Zone
Enterprises has been proposed. In the
PCT Code 9917, Para (2), the words‘plant and machinery’ are proposed tobe replaced with ‘capital goods’.
Whereas the definition of ‘capital
goods’ in Part-1 of the Fifth Schedule to
the Customs Act, 1969, has been
expanded to include IT sector, storage
communication and infrastructuredevelopment of SEZs by Zone
Developer.

on the value assessed on the Goods
Declaration for import.
Machinery, equipment, materials andgoods imported either for exclusive
use within the limits of Gwadar Free
Zone, or for making exports therefrom,subject to the conditions that suchmachinery, equipment, materials andgoods, are imported by investors of
Gwadar Free Zone, and all theprocedures,
limitations
andrestrictions as are applicable on such
goods under the Customs Act, 1969
(Act IV of 1969) and rules madethereunder shall, mutatis mutandis,
apply. Provided also that if any of such
goods is taken out of the Zone forpurpose other than the -export, the tax
on the same shall be paid by theimporter.
Zero rating of sales tax on supplies of
locally manufactured plant andmachinery to manufacturers in the
Gwadar Free Zone.

For Gwadar Free Zone31
Inclusion of China Overseas Ports
Holding Company and its operatingcompanies namely Pakistan (Private)
Limited,GwadarInternational
Terminal Limited, Gwadar Marine
Services Limited and Gwadar Free
Zone Company Limited in the list of thefinancing agreement companies.
Tax concessions and exemptions to beextended to Gwadar free zone.
Zero rating of sales tax on supplies ofraw materials, components and goods
for further manufacture of goods in the
Gwadar Free Zone and export thereof,
provided that in case of supply to tariffarea of Pakistan, tax shall be charged

30

For Construction SectorThedefinitionofindustrial
undertaking has been amended toinclude construction sector, which will
enable the sector to avail tax benefits
available to an industrial undertaking.
The slab of minimum turnover tax
under section 113 and alternative
corporate tax applicable on accounting
profits under section 113c (income tax
ordinance,2001) shall not apply toturnover, income, profits and gains ofa builder or developer.

https://invest.gov.pk/budget-brief-fy-2020-21#gallery-2

31 Sixth Schedule of Sale Tax Act~ 18 ~

Holding period for taxation of capitalgains on disposal of immovable
property is being restricted to 4 years.
Federal Excise duty on cement has been
reduced to Rs. 1.75 per kg from Rs. 2
per kgWithdrawal of advance tax from steelmelters and composite steel units.
Excluding Engineering services fromthe list of specified services attracting
withholding tax of 3% in case of aresident person providing suchservice
An optional “Fixed Tax Regime’ from tax
year 2020 and onwards for eligible
builders and developers on a projectby project basis has been introducedon the income, profits and gains

construction projects in the form ofmoney or land, either as an individual,
as an association of persons or acompany,subjecttocertainconditions.
First purchaser of building or unit ofbuilding shall also be immune from theprovisions of section 111 where
subject to fulfilment of otherconditions, the payment is routed
through crossed banking instrument
for both new and existing incomplete
projects.
Income Tax ordinance,2001 amended up to
30th
June,
2020
of
Pakistan:
https://download1.fbr.gov.pk/Docs/202011
414113915861I.T.OrdinanceAmendedupto(30-06-2020).pdf

derived from the sale of buildings orsale of plots, from a new or incomplete
existing project to be completed by
30th September, 2022.
Dividend income paid to a person by abuilder or developer shall be exempt
from income tax and tax withholding
obligations under section 150.
Reduced rate of advance tax of 5% has
been introduced for sales ofimmovable property through auction.
Any tax payable on income, profits orgains of project of low-cost housing
under NAYA Pakistan Housing &Development Authority or EHSAAS
program shall be reduced by 90%.
Eligible Developers and Builders shallbe exempted from withholding taxes
on purchase of building materials
under section 153, subject to certain
exclusions.
No questions to be asked under
section 111 of the Ordinance from theinvestors, regarding source of funds,
making capital investment in new~ 19 ~

Public Private Partnerships (PPPs)
Currently, Government of Pakistan is fullycommitted to enhance the attractiveness ofthe country for the private sector. On theworld bank’s index for quality infrastructure
Pakistan is being nominated as the mostimproved country, for improving its rank from58th position to 13th rank. The most improved
indicator was for Private Infrastructure
investment.
PPP at federal level
In 2016-2017, Public Partnership Authority
Act was drafted to establish a regulatory
framework to execute Public Private
Partnerships. The act has set up transparent
and effective procurement processes andinstitutional arrangements for PPPs in
Pakistan
Scope and nature of PPP in Pakistan
The sectors eligible for PPP mode of
procurement and development includes:• Transport and logistics; including• Mass Urban Public Transport;

Pakistan’s
Investment

How to do business in Pakistan?

How to do business in Pakistan?

• Local Government Services;• Energy Projects;• Tourism Projects;• Industrial Projects;• Irrigation Projects;• The Social Infrastructure.
A number of PPPs exist in the country invarious sectors, particularly in the traditional
PPP area of infrastructure development,
energy and telecommunication. More recently
the use of PPP approach has been extended tophysical infrastructure in social sectors, suchas education and health facilities. Other
examples include the Gwadar deep sea port
and various container terminals (Qasim andKarachi) that have been implemented using a
PPP model. In the railway sector, concessions
exist in freight handling and maintenance as a
PPP model. In the aviation sector only one PPP
exists, i.e. Sialkot Airport Authority. Various
toll roads in the country currently use the PPP
model, such as the Islamabad Lahore and theLahore-Faisalabad motorways. Moreover, a
PPP feasibility study (financed by the AsianDevelopment Bank [ADB]) for a new ring roadin Rawalpindi combined with commercial andresidential zones has recently been concluded.
In the agriculture and agribusiness sector, alimited number of PPPs exist, most of whichhave been informally institutionalized under
Ministry of Food Security and Research andthe Ministry of Commerce. Most have been in
operation for less than a decade. Some
examples include a PPP for market
infrastructure development between the
Punjab Agriculture Department and theprivate partners TolLink. The Small andMedium Enterprises Development Authority(SMEDA) under the Ministry of Industry has
also been involved in the development andimplementation of various PPPs both in thefood and non-food sectors. In the food sector,
SMEDA has participated in developing a meat

processing plant, a mango pulp factory and an
agro-food processing plant (not yet fully
operational). PPPs have also been in operation
under various donor projects and a national
agribusiness program. Gilgit-Baltistan in year
2020 has inked its first Public-Private
Partnership deal with AKDN (industrial
Promotion Services Asia) for new hydropower
project.
Modes of PPPs allowed in Pakistan
a. Federal PPP ACTNo specific provision(s) under theFederal PPP Act
b. Punjab PPP Act
Build–Transfer; Build–Lease–Transfer;
Build–Operate-Transfer; Build–Own–Operate; Build–
Own–Operate–Transfer;
Build–Transfer–Operate; Contract–Add–
Operate; Develop–Operate–Transfer;
Joint Venture; Management Contract;
Rehabilitate–Operate–Transfer; Rehabilitate–
Own–Operate and Service Contractc. Sindh PPP Act
Build–Operate– Transfer; Design–Build–
Finance–Operate; and Any other variant of
PPP. Additionally, the following modes
identified in Part IV of the Sindh Public
Procurement Rules, 2010: Service Contract;
Management Contract; Lease Contract; Build–
Own–Operate; Build–Own–Operate, transfer;
Build–Lease–Transfer; Build–Transfer;
Rehabilitate–Operate– Transfer; and Any
combination or variation of the above modes
or any other arrangement under PPP mode
approved by the Sindh Public Procurement
Regulatory Authority
d. KPK PPP Act
Build–Operate– Transfer; Build–Own–
Operate– Transfer; Design–Build– Finance–
Operate; and Any other variant of PPP.

~ 20 ~

How to do business in Pakistan?

Section 3:

Pakistan’s Trade
Progress & Facilitation~ 21 ~

How to do business in Pakistan?

Pakistan’s Trade Performancetrade of Pakistan was US $ 71.1 billion in 2022.
As compared to corresponding last year,
imports have decreased while exports haveslightly increased. However, Pakistan has
faced huge trade deficit with a negative tradebalance of US$ 39.8 billion for 2022. In FY22,
the trade deficit decreased by USD 4.4 billion.

Strategically located between the Middle East,
East Asia, Central Asia, and South Asia,
Pakistan has a great potential to become
regional trade and investment hub with moreconnectivity through land, sea, and air routes.
Pakistan’s trade with the world has gradually
increased from year 2015 to year 2020. Global

Table 8: Yearly Trade overview of Pakistan
Indicator

FY18

FY19

FY 20

FY 21

FY 22

Export (B US$)

23.77

23.81

22.24

28.88

31.1

Import (B US$)

60.3

50.13

45.84

73.1

71.1

Balance (B US$)

-36.6

-26.3

-23.5

-44.2

-39.8

Source: Trade map

Figure 5: Trends in Pakistan's Trade Year-wiseTrends in Pakistan's trade(2018-2022)
80

0

70

-5
-10

60

-15

50

-20

40

-25

30

-30
-35

20

-40

10

-45

0

-50
2018

2019
Export (B US$)

2020
Import (B US$)~ 22 ~

2021
Balance (B US$)

2022

How to do business in Pakistan?

Major import categories of Pakistan aremineral fuels, electric machinery and its parts,
palm oil, cotton, mobile phones, motor cars
and steel, organic chemicals and plastics. At HS
6-digit level, the leading commodities
imported in Pakistan include energy yielding
products like petroleum oil, light oils, naturalgas, medium oils, and palm oils. Other
imported commodity having imported worth
of more than 1 billion USD are telephones.
The import policy of Pakistan allows all items
to be imported to Pakistan except thosespecified in appendix A of import policy 2020.
under 73 different categories.33 Items under
the scope of Ministry of National Food Security
and Research are importable under the
restriction of inspection and permits. Thereare 354 such product headings in the importpolicy of 2020 (mentioned in Part III). Items
under 38 headings are imported only after
fulfilling some procedural requirements (partII of Appendix B of import policy 2020). These
includes petroleum oils, motor spirit, furnaceoil, finished lubricants, raw material for
pharma, used tyres, security paper, cigarettemaking paper, gold and silver in bulk,
components of agricultural tractors, bullet
proof material, second hand vehicles, solar
photovoltaic cells, slag ash and residues.

Major export products of Pakistan are textile,
Apparels, rice, Cereals, copper, Leather, Fish,
Surgical instruments, leather articles etc. At HS
6-digit level, the leading commodities
exported from Pakistan includes rice andtextile-based products. 6 out of 7 leading
commodities are textile based in nature.
The export policy of Pakistan allows all items
to be exported from Pakistan except thoselisted in Schedule-I of the policy under 22
different categories32.
Conditional permission is allowed for Wildboars, pet dogs and cats, onions, mangoes,
kino, rice, poppy seeds, vegetable ghee andcooking oil, cotton, metals, arms andammunition, materials used in biologicalweapons, Unmanned Air vehicle, Nuclear
substances, equipment for the production of
nuclear energy, precious and semi-precious
stones and gold jewelry, surgical instruments,
fruits in retail packing, Ethanol and products
from cane molasses and tobacco and tobacco
products.

Importing Partners

USA

20%

Chin
a

Netherlands

UK

5.8%

6.5%

8.2%

Germany
5.7%

Exporting Partners

China
23%

UAE
11.2%

KSA
7.2%

USA
4.4%

Indonesia
7%

32 Export Policy 2020 https://drive.google.com/drive/u/1/folders/1tDfDcXMNg4Rt6fRnyRcwALjcs-oehLXG
33 Import Policy 2020 https://drive.google.com/drive/u/1/folders/1tDfDcXMNg4Rt6fRnyRcwALjcs-oehLXG~ 23 ~

Pakistan’
Trade
Performance

Import Profile

Export Profile

How to do business in Pakistan?

content/uploads/2020/12/ExportFacilaition-Scheme-Manual-2.pdf

Trade Promoting Agency: Trade
Development Authority of Pakistan
The Trade Development Authority of Pakistan(TDAP), which was established on November
8, 2006, under a Presidential Ordinance, with
Ministry of Commerce as its administrative
ministry. TDAP is the successor organization
to the Export Promotion Bureau (EPB) and is
mandated to have a holistic view of global
trade development rather than only the‘export promotion’ perspective of its
predecessor. Designated as the premier tradeorganization of the country, TDAP is a
dedicated, effective, and an empowered
professionally managed organization
Activities
•
•
•
•
•
•

Participation in International Tradeexhibitions
Receives and arranges Trade delegations
Organizes EXPO Pakistan annually
Runs Expo Center Karachi
Implements Trade policy initiatives
Undertakes Sector development projects

Duty Drawback Manual -Textile Exports
based on MOC SRO
https://tdap.gov.pk/wpcontent/uploads/2020/12/DutyDrawback-Manual-Textile-Exports-1.pdf•

Duty Drawback on Local Taxes andLevies-Non-Textile based on MOC SRO.
https://tdap.gov.pk/wpcontent/uploads/2020/12/DutyDrawback-on-Local-Taxes-and-LeviesNon-Textile-1.pdf•

National Exporters Training Program
https://tdap.gov.pk/national-exporterstraining-program/

Export Facilitation
In order to improve and enhance exports from
Pakistan, exporters have been given calculated
facilities/incentives. The objective of thesefacilities/incentives is to make exports zerorated, which means that the impact of tax paid
is netted off by subsequently allowing refund
or input adjustments equivalent to the tax
already paid.
The major facilities/incentives available toexporters at present are:Recent Publications
To play its part in the knowledge economy,
TDAP is actively initiating research based
programs, trainings, workshops and webinar
to prepare Pakistani exporters to grab
emerging opportunities across the globe.
The recent publications of TDAP in this regard
are:•Step-by-Step Guide for Exporters (Export
Procedures)

A.
Export Facilitation Schemes byFederal Board of Revenue (FBR)
Federal Board of revenue has simplified andautomated various export facilitation regimes.
The schemes provide wide range of choices tothe commercial exporters as well as to the
manufacture-cum-exporters who could opt
the most suitable scheme as per their business
requirement.

https://tdap.gov.pk/wpcontent/uploads/2020/12/Step-by-StepGuide-for-New-Exporters-ExportProcedures.pdf••

Export Facilitation Manual based on
FBR’s Facilitation Schemes
https://tdap.gov.pk/wp-~ 24 ~

i.

rebate notifications, the FOB value forclaiming such duty drawback and rebate
shall be the value excluding value of the
duty-free goods imported under theserules.
The scheme allows 40% sale of manufactured
goods in the local market. For local sale
exporters are bound to pay the duty and taxes.
Local sale of raw materials is permissible for
leftover stock in exceptional circumstances
and are subject to prior approvals. Allprocesses from filing of export application to
the stage of final export are fully automated.

Manufacturing Bonds Scheme(SRO 450(I)2001 Dated 18.06.2001)34
This scheme is open for all sectors. The scheme
allows manufacture-cum-exporters to importduty free input material for subsequent exportof value added products. They are required tooperate in a licensed custom bonded area. The
licensee is required to obtain a certificate
called “Analysis Certificate” from theregulatory authority. Under the scheme,
procurement, manufacture export andremoval of goods is allowed in the following
manner (rule 352)I.
the input goods may be imported by thelicensee without payment of custom duty,
federal excise duty and sales tax after
declaring on the bill of entry that input
goods are being imported under
manufacturing bond for manufacture ofexport goods.
II.
the input goods produced from the local
excisable unit may be procured by thelicensee without payment of central excise
duty.
III.
the sales taxable goods meant for further
processing shall be supplied to thelicensee of the manufacturing bondagainst a tax invoice after payment of sales
tax and the licensee shall be entitled forrefund of input tax credit in accordancewith the Sales Tax Refund Rules, 2000.
IV.
the licensee may procure duty paid input
goods manufactured locally, in addition to
duty-free input goods for production offinished goods and if duty drawback andrebate of federal excise duty is admissible
on export of such finished goods on thebasis of standard duty drawback andii.

Export Oriented Units(EOU) and SMEs

(SRO 327 (I)/2008 DATED 29.03.2008) 35
This scheme promotes Small and Medium
enterprises. With the duty free inputs, thisscheme also facilitates the exporters for duty
free import of Property, plant and Equipment
as well as duty and tax free import of coal,diesel, gas, furnace oil, coke or coal and carbon
blocks used in the manufacturing process. The
schemes allow exporters to supply goods toother exporters availing other facilitation
schemes like Manufacturing Bond and DTRE.
Under the scheme, procurement, manufacture
export and removal of goods is allowed in thefollowing manner:I.
The input goods may be imported by thelicensee without payment of customs duty,
sales tax, federal excise duty and income
tax after declaring on the goods
declaration that such input goods arebeing imported for export oriented unit
for manufacture of export goods.
II.
Transfers are allowed for goods from theunits operating or DTRE Rules or a
Customs Bond to another Export Oriented

34 https://download1.fbr.gov.pk/Docs/2019124171277534SRO450(I)2001ManufacturingBond(Uptodate(1)-converted.pdf35 https://download1.fbr.gov.pk/Docs/20191241712547231SRO327(I)2008EOU(Uptodate)converted.pdf~ 25 ~

Pakistan’
Trade
Performance

How to do business in Pakistan?

How to do business in Pakistan?

Unit without payment of customs duty andother taxes against an indemnity bond.
III.
The licensee may procure customs orfederal excise duty-paid input goods
manufactured locally for production of
output goods and the licensee shall beentitled to payment of drawback of suchduties.
IV.
The exemption from customs-duty, sales
tax, federal excise duty and income tax, isgranted for plant, machinery, equipment
and apparatus, including capital goods to
be used solely within the limits of an
Export Oriented Unit.
Under the scheme, 20% of local sale is allowedon payment of duty and taxes.

garments, textile made ups and foot wears The
facility is also available for components or subcomponents for assembly of machinery,electrical equipment, bicycles, aluminum
ware, steel ware, kitchen utensils, surgicalinstruments, toys, decorative materials,
stationary items etc. meant for export.
v.
Export Processing zone rules40
All types of machinery, equipment, materials
to be used solely within the limits of a zone andthe goods for warehousing purposes can beimported duty free.
Goods from tariff area, required for further
processing in a zone, can be admitted after
completion of export formalities like Export
GD and Import GD. Local sale up to 20% has
also been allowed.
Vehicles can be imported duty free as per theentitlement given in the table below:
VehiclesSr. Quantum of
Investment
in
EPZ
allowednoUS$ 10.00 million or
1
03
more up to US$ 25
millionmore than US$ 25
205
million but less than
US$ 50 million
equal to or more than3
10
US$ 50 million but lessthan US$ 75 million
equal to or more than4
15
US$ 75 million but lessthan US$ 100 million
equal to or more than520
US$ 100 million but lessthan US$ 125 million
equal to or more than
625
US$ 125 millioniii.
Duty and Tax Remission for Export(DTRE) Scheme sub-chapter 7 of Chapter XII of
SRO 450(I)/2001 DATRED 806.200136
This scheme is available for imported inputs,
locally purchased goods and services
including gas, electricity, diesel, furnace oil,coal and coke of coal. This scheme can beavailed by wide number of businessmen i.e.
Sales Tax registered exporters, commercial
exporters, contracted vendors of foreign
manufacturers and persons engaged in value
addition, EPZs37, projects entitled to duty-free
inputs and supplies made by indirectexporter38 direct exporter.
iv.
Temporary Importation Scheme
SRO492(I)/2009 dated 13.06.200939
This scheme entails exemptions from all duties
on import of accessories used for manufactureof exportable goods. The input goods include
accessories used in ready-made36 https://download1.fbr.gov.pk/Docs/201912416125613694DTRERules-updatedversion-upto12.09.2019-

converted.pdf
37 Export processing zones
38 Indirect exporter means a manufacturer or supplier of goods or articles which are to be used as input for export
39 https://download1.fbr.gov.pk/Docs/20191241712414209Notification-Standard-492-Updatedupto31stjuly,2019converted.pdf40https://download1.fbr.gov.pk/Docs/20191241612575168ExportProcessingZonesRules(1)converted.pdf~ 26 ~

How to do business in Pakistan?

B.
Export Refinancing Schemes byState Bank of Pakistan (SBP)
In order to ensure smooth flow of credit toexporters State Bank of Pakistan has
introduced various credit schemes. Export
Finance Scheme, Islamic Export Refinance
Scheme, Scheme for Long Term Financing for
Export oriented Projects.
i.

Export Refinance Scheme

This is a short-term financing facility by Statebank of Pakistan, which provides refinancing
facility for 180 days for direct exporters and
120 days for indirect exporters at the current
mark-up rate of 4.5%. Any exporter (Direct orIndirect41) can avail the facility through any ofcommercial bank, after fulfilling collateralrequirements of the bank for commodities notlisted in “negative list” (Negative list for
ExportRefinancing
Schemehttps://www.sbp.org.pk/bpd/2003/efsnegative.pdf).
The Scheme is available under two parts.
Part-I of ERS
Financing under Part I of the Scheme is atransaction-based facility. The finance isgranted by the bank to the exporter on thebasis of a Firm Export Order / Export Letter ofCredit, for a maximum period of 180 days. The
financing facility can be availed at preshipment stage for procuring inputs andmanufacturing the goods to be exported.
Financing at Post Shipment stage is also
granted against goods already shipped to theimporter abroad, for the period up-to
realization of export proceeds or 180 days,
whichever is earlier
Part-II of ERS
Under Part-II of the Scheme, a revolving
finance limit is sanctioned to the exporterii.

Islamic Export Refinancing Scheme

The IERS caters the needs of the exporters
who wish to avail finances under Shariah
compliant modes. Exporters can avail thescheme from participating Islamic Banks or
Islamic Banking branches of Commercial
banks, if the exporter fulfills the criteria statedin the scheme for Musharika Pool (no fixedrate) and can finance their purchases for
maximum period of 180 days for a Directexporter and 120 days for indirect exporter
against eligible commodities. Musharika Pool
under the IERS is a pool consisting on
minimum 10 Blue Chip Companies withdiversified line of businesses to whom theIslamic Bank have provided financing facilities
on Shariah compliant modes.
The criteria for selection of blue chipcompanies for the Musharika Pool is as under:(a) No CIB report or export over dues that are
not realized over a period of more than one
year(b) should fulfill at least one of the following
three conditions;• good record on the stock exchange,• a credit rating of B+• an average ROE higher than the rates on
EFS

41 on the basis of Standardized Purchase Order (SPO) or the Inland Letter of Credit (ILC) to be established by the Direct

Exporter against the particular Export Order/Contract/Letter of Credit. IDE will be eligible to avail finance from banks
against ILC or SPO, to the extent of the amount mentioned therein. The period of financing by bank to an Indirect Exporter
shall be determined as per the terms of the relevant ILC/SPO, but subject to a maximum of 120 days.

~ 27 ~

Pakistan’
Trade
Performanceequivalent to 50% of his export performance
during the previous year on July -June basis.
Exporters can avail this financing facility for aperiod of 180 days. Facility once availed needs
to be repaid in totality. Exporters having
availed Part-II facilities have to export / ship
eligible goods and realize export proceeds andsubmit the evidence of performance on theprescribed statement within two months fromclose of each financial year.

How to do business in Pakistan?

• Engineering Goods
Other sectors
Generators / Captive Power Plants, used ineligible
sectors.
Ethanol,Furniture,
Pharmaceutical, Spinning and Ginning sectors,
Regeneration of textile waste, Glass sector,
Dairy sector and Soda ash.

iii.
Long Term Financing facility for Plant
and Machinery (LTFF)
As the name indicates, this is a long term
financing scheme. Financing is available forexport-oriented projects42 to an extent of Rs. 5
billion for purchase of imported and locallymanufactured new plant and machinery for a
maximum period of 10 years (inclusive of
grace period). For this scheme, State Bank has
fixed an annual mark-up rate of 5 percent.

Other relief measures to fight the COVID-19 byState Bank of Pakistan
Government of Pakistan has announced a“Temporary Economic Refinance Facility” tostimulate investments in post COVID period.
Under the scheme the banks will facilitate theinvestor for investment in new industrial units
by financing purchase of new imported or
locally manufactured plant and machinery at
the maximum rate of 7% (SBP refinance rate is3%) for 10 years. This scheme is available forall manufacturing industries, with the
exception of power sector.

iv.
Islamic Long Term Financing Facility
for Plant and Machinery(ILTFF)
State bank of Pakistan facilitates the exporters
for long term financing based on Shariah laws.
The scheme provides 10 years of currency
finance facility for imported as well as locallymanufactured Plant and machinery by exportoriented projects.
Sectors eligible ILTFF scheme are:
Core categories• Textile and Garments (Fabric, garments,
made-ups, Towels, Art Silk and synthetic)• Rice Processing• Leather and leather products• Sports goods• Carpets and wools• Surgical instruments
Development categories• Fisheries(boat
manufacturing/
modification and chilling equipment)• Meat and Poultry (hatching purposes andequipment for preservation / packing /canning chicken & meat)• Fruits/Vegetable & Processing, Cereals• IT software and services (Hardware &equipment for IT & Services sector
exports)• Marble & Granite (cutting and polishing of
marble & granites and of handicrafts)• Gems and Jewelry

C.
Duty Drawback Schemes by
Ministry of Commerce
To facilitate exporters, Ministry of Commerce
has provided the facility of duty drawback on
local taxes and levies to both textile and nontextile sector.
Ministry has issued, in this regards:i.
“SRO. 711(I)/2018” dated June 8th,2018 for non-textile sector
The categories eligible for DTRE includes:
gloves; footballs and other sports goods; leather
garments; footwear; cutlery; electrical fan;transport equipment; auto parts andaccessories; machinery including electricalmachinery; furniture; stationary; fruits andvegetables and meat and meat preparations.

ii.
Notification No.1(42-B) TID/18-TR-II”
for textile sector
The scope of the notification extends to textile
based products under three broad categories

42 Allowed as per Export Policy order issued by MoC~ 28 ~

How to do business in Pakistan?

namely Garment, Made-ups, and Processed
fibers.
The duty drawback under the aforementioned
SROs and notifications is allowed for the
shipments made from 1st July, 2018 to 30th June,
2021. The scope of the facility has been extended
to include even the export processing zones of
the country. Under the facility, 50% of the
drawback is directly given to the exporter whilecertain conditions are put in place for theremaining 50% of the drawback. An incrementof 10% or more in the export performance fromthe previous year is required in order to beeligible for the remaining 50% of the drawback.
In case the exporter has targeted non-traditional
markets an additional 2% drawback is allowed.
Non- traditional markets in this regard includes:
58 African markets, 40 Latin American markets
and 8 Commonwealth of independent states.

D.

mentioned in Sixth Schedule of the Sales tax
act, 1990 (amended up to 30th June,2020).
(See: exempted imports along with the PCT
codes)
https://download1.fbr.gov.pk/Docs/202081
2168165722SalesTaxAct,1990updatedupto(30.06.2020)--.pdf

Goods imported in Pakistan are subject tofederal excise duty. Finance act 2007 has
exempted imported goods from suchcompulsion. Currently only a limited numberof items face FED in Pakistan. The list of suchitems is included in the First Schedule ofFederal Excise Act, 2005 (amended up to 30th
June,2020).
(See: list of excisable imports along with duty
rate)
https://download1.fbr.gov.pk/Docs/202081
2168190190FEDAct,2005updatedupto30-062020--.pdf

Import Tariff Rationalization

In order to enhance the competitiveness of thedomestic industry and to facilitate the
manufacturers-cum-exporters Government ofPakistan has gradually liberalized tariffs. The
number of general tariff slabs are gradually
reduced.
In the Finance Act FY2019-20, tariff on 1,635
tariff lines comprising raw materials andcapital goods was reduced from 3% to 0%. The
current four duty slabs are 3%, 11%, 16% and20%, with a large number of tariff lines subject
to additional duty of 2%, 4% to 7%.
E.
tax

Imported items exempted for Sales

All goods imported into Pakistan are liable tosales tax at the time of import, except goods
specifically exempted under section 13 as~ 29 ~

Pakistan’
Trade
Performance

F.
Imported items exempted forFederal Excise duty

How to do business in Pakistan?

Section 4:

Doing Business inPakistan~ 30 ~

How to do business in Pakistan?

Steps to Start Business in Pakistan
New to doing business inPakistan?

Register a business
Apply for construction permit

Apply for Electricity connection

Doing Business
in Pakistan

Register a property
Register and pay taxes
Customs clearance
Figure 6: Steps to start business in Pakistan
Step 1: Register a business
Relevant agencies
1. Register Limited Liability company: Security & Exchange Commission of Pakistan43
2. Register Unlimited Liability Company:
a. Ease of doing business, Government of Sindh44
b. Ease of doing business, Government of Punjab45
Step 2: Apply for construction permit
Relevant agencies
1. Apply permit in Sindh: Sindh Building Control Authority46
2. Apply permit in Punjab:
43 https://eservices.secp.gov.pk/eServices/
44 http://business.sindh.gov.pk/
45 https://register.business.punjab.gov.pk/
46 https://sbca.gos.pk/~ 31 ~

How to do business in Pakistan?

a. E-Khidmat Centers47
b. Lahore Development Authority48
Step 3: Apply for electricity connection
Relevant agencies
1. Apply connection in Sindh: Karachi Electric (K-electric)49
2. Apply connection in Punjab: Lahore Electric Supply Company (LESCO)50
Step 4: Register a property
Relevant agencies
1. Register a property in Sindh: Board of Revenue Sindh51
2. Register a property in Punjab: Punjab Land record Authority52
Step 5: Register and pay taxes
Relevant agencies
1. Register, File and pay taxes online: FBR IRIS Porta53l
2. Register and file sales tax online: FBR eFile Portal54
Step 6: Customs Clearance
Relevant agencies
1. FBR’s WeBOC Portal55

47 https://fc.punjab.gov.pk/
48 https://www.lda.gop.pk/
49 https://www.ke.com.pk/

50 http://www.lesco.gov.pk/
51 https://sindhzameen.gos.pk/
52 https://www.punjab-zameen.gov.pk/
53 https://iris.fbr.gov.pk/public/txplogin.xhtml
54 https://e.fbr.gov.pk/AuthLogin.aspx
55 https://www.weboc.gov.pk/(S(3tqg1ppt5rxd3mqksrj54gcs))/Login.aspx~ 32 ~

How to do business in Pakistan?

Pakistan’s Doing Business in DB 2020of electricity tariff changes. This reform
applies to both Karachi and Lahore.

Pakistan is constantly making efforts toimprove business environment in the country incollaboration with World Bank, International
Finance Corporation and UKaid. Since 2016,
almost 300 reforms have been implemented to
improve investment climate in the country.
During last year, Pakistan advanced 28 places
to 108th place on ease of doing business global
ranking. On the measure of absolute progress
towards best practice, Pakistan has improved
its score from 55.31to 61.00 and was recognized
as the top reformer in South Asia and sixthreformer in the world. The improved
performance indicators for year 2020 are:

5. Paying Taxes: Pakistan made paying
taxes easier by introducing online
payment modules for value added tax andcorporate income tax, and less costly by
reducing the corporate income tax rate.
This reform applies to both Karachi andLahore.

1. Starting a business: Pakistan madestarting a business easier by expanding
procedures available through the online
one-stop shop. This reform applies to both
Karachi and Lahore. Furthermore,
Pakistan has abolished the Labor
Department registration fee for Lahore.

6. Trading across Borders: Pakistan madetrading across borders easier byenhancing the integration of various
agencies in the Web-Based One Customs(WEBOC)
electronicsystemandcoordinating joint physical inspections at
the port. This reform applies to both
Karachi and Lahore.

2. Dealing with Construction Permits:
Pakistan made obtaining a construction
permit easier and faster by streamlining
the approval process and also madeconstruction safer by ensuring thatbuilding quality inspections take place
regularly in Karachi. While in Lahore theoperational efficiency has been improvedby establishing one-stop shop forconstruction permitting.
3. Getting Electricity: Pakistan made getting
electricity easier by enforcing service
delivery time frames and by launching an
online portal for new applications.
Pakistan also increased the transparency~ 33 ~

Doing Business
in Pakistan

4. Registering Property: Pakistan (Karachi)
made property registration faster bymaking it easier to execute and register adeed at the Office of the Sub-Registrar.
Pakistan (Lahore) made registering
property easier by increasing thetransparency of the land administration
system.

How to do business in Pakistan?

6th EODB Reform Plan for DB 2022
6th reform plan has been devised, in consultation with all federal and provincial stakeholders, private
sectors and world bank local team for the doing business report 2022, containing more than 90
reform actions across all 10 business indicators.
The 6th plan for DB 2022 involves:
Table 9: Reforms for DB 2022 to be completed in year 2020
Reforms for DB 2022 to be completed in
DB indicator
year 2020✓ PITB56 is integrating Punjab BusinessStarting a business
Registration Portal with FBR✓ LDA57 is making it mandatory to obtainan insurance policy to cover possible
structural flaws or problems in thebuilding once it is in use.
Dealing with construction permit✓ SBCA58 and LDA is introducing GIS for
eliminating initial physical inspection ofsite.
✓ LDA is also trying to introduce online
payment system through all banks✓ K. E59 is updating interactive interface
Getting Electricity
for more proactive and transparent
communication✓ BOR/PIBT are fully automating theprocess of issuance of stamp duties.
✓ BOR60 Sindh is launching an online
Registering property
application for issuance of Sale
Certificate.
✓ E-registry has been operationalized thiswill improve the strength of legal rights
index for Pakistan✓ SBP is expanding e-CIB capacity to
Getting credit
maintain overdue/default history for aperiod of 2 years.
✓ SBP is also sharing of data from utilities
and retail companies with the Private
Credit Bureaus

56 Punjab Information Technology Board
57 Lahore development Authority
58 Sindh Building Control Authority
59 K-electric
60 Board of Revenue~ 34 ~

Protecting Minority investor

Paying Taxes

Trading across borders

Enforcing Contracts

Resolving Insolvency✓ Related party regulations have been
amended to enhance disclosure andtransparency✓ FBR has simplified tax regulations,
reduced VAT return filing time to 49
hours, reduced withholding tax
transactions, and started issuing
corporate tax refunds through directbank transfers.
✓ FBR/Customs is trying to introduce theidea of packing and repacking of goods
by single agency as per theinternational practice.
✓ Smart Examination systems at ports is
to be improved to reduce clearancetime
In order to operationalize commercial courts
with legal support, Commercial law is underreview and approval in Punjab. Other reforms
include:✓ E-filling of claims, reduction of filingand service timeframe to 6 days, trial
and judgement time frame to 118 days,
enforcement of judgement timeframe
to40 days✓ Introduction of case management
practices to address delays during thetrial period✓ Introducing financial incentives for theparties to attempt mediations✓ Introducing e-filling of initial
complaints in commercial cases✓ Introducing pretrial conferences as a
critical element of case management
SECP is creating awareness about insolvency
related laws amongst corporate entities andlegal practitioners.

Source: https://pakistandoingbusiness.com/~ 35 ~

Doing Business
in Pakistan

How to do business in Pakistan?

How to do business in Pakistan?

Section 5:

Pakistan’s Companies
Act~ 36 ~

How to do business in Pakistan?

Mode of forming a company

Companies Act, 2017•

Three or more persons may form a publiccompany• Two or more persons may form a privatecompany• One person may form a single member
company
A company formed may be a company with orwithout limited liability, that is:a) a company limited by shares;b) company limited by guarantee; orc) An unlimited company

Pakistan had adopted its first Companies Act
of 1913 right after its creation in 1947. The
Companies Act, 1913 remained in operationand existence until the Companies Ordinance,
1984 was promulgated to regulate thecorporate entities in Pakistan. The Companies
Ordinance, 1984 was a major breakthrough interms of streamlining of corporate laws
keeping in view the local businessenvironment and it governed the corporate
regime for more than three decades.
To incorporate the changes of the moderntime, another act promulgated in, 2017 which
replaced the Companies Ordinance, 1984. In
continuation of those efforts, the most recent
development is the promulgation ofCompanies (second Amendment) Ordinance.
These amendments have been made in thecontext of Ease of Doing Business. At the sametime, certain powers previously given
conferred on the Minister in Charge to ease out
the process have now been taken away, inmost of the cases.
The Companies act 201761, with 515 sections
and 8 schedules, facilitates corporatizationand promotes development of corporate
sector, encourages use of technology andelectronic means in conduct of business andregulation thereof, regulates corporate
entities
forprotecting
interestsofshareholders, creditors, other stakeholders
and general public, inculcate principles ofgood governance and safeguard minority
interests in corporate entities and provide analternatemechanismforexpeditious
resolution of corporate disputes and matters.
Main facilities provided in the law includes:

Incorporation is made easier as:• Process of company registration is
simplified by filling one form with model
memorandum62 and article of association.
• The memorandum should state theprinciple line of business and any change.
subsequently to be notified within 30 days.
• The company can engage in any lawful
business as per section 26.
• Directors and CEO to be appointed at thetime of incorporation and no separate
filling is required subsequently.
• Registered address is not required at thetime of incorporation and application canbe filed using correspondence addressonly.
• Share money to be deposited within 30
days of incorporation.
• Receipt of subscription money to becertified by a chartered accountant or a
cost or management accountant within 45
days of incorporation.
• Registered office to be intimated within 30
days of incorporation.

61Companies Act, 201762 ―memorandum‖ means the memorandum of association of a company as originally framed or as altered from time totime inpursuance of company law or of this Act;~ 37 ~

Pakistan’ sCompanies Act

Incorporation

How to do business in Pakistan?

Commencement of business by a publiccompany (section 19)

with the Registrar on or before the date of its
publication.

Public limited company is required to obtain
Certificate of Commencement of businessbefore starting business. For private
businesses acceptance of documents by theregistrar is the conclusive evidence for acompany to start business and no certificatesare required.

Certificate of Shares66
The Act reduces the time limit for every
company for the issue of certificates from 90
days to 30 days after the allotment of any of its
share and other securities and ensure deliveryof the certificates to the person entitledthereto at his registered address.

Documentation

Meeting and Procedures

Memorandum and Articles

Statutory Meeting

As per the Act the process of alteration in
Memorandum of Association63 and Articles64
is simplified as:
Alteration would take effect by special
resolution• Change in principle line of business does
not require approval from commission,
only amended memorandum to be filledwith the registrar within 30 days.
• Where change is related with change inplace of registered office or adoption of
any business activity or any change
therein which is subject to license,
registration, permission or approval
under any law require approval from
Commission.
• A copy of the altered articles of association
shall within 30 days of from the date ofpassing of resolution, be filled with theregistrar for registration as articles ofassociation of company.
Prospectus65
The Act requires the company to get its
prospectus duly signed by every person who isnamed therein as a director or proposed
director of the company and has been filed

The meeting shall be convened within a periodof 180 days from the date at which company isentitled to commence business or within ninemonths from the date of its incorporation
whichever is earlier.
Under the Ordinance the statutory meeting
was required to be held within a period of notless than 3 months nor more than 6 months,
from the date of commencement of business.
Where first annual general meeting of acompany is decided to be held earlier nostatutory meeting shall be required. Further
statutory report is required to be certified by
the Chief Executive Officer and at least one
Director, and in case of listed company also by
the Chief Financial Officer.
Annual General Meeting / Extraordinary
GeneralMeeting within period of 16 months from thedate of its incorporation a company isrequired to hold its first annual general
meeting. Previously it was required to be held
within a period of 18 months from the date ofincorporation. Subsequent meetings are
required to be held every year within a periodof 120 days from the date of closure of

63 Section 32
64 Section 38
65 Section 57
66 Section 71~ 38 ~

How to do business in Pakistan?

financial year. The requirement of holding thesubsequent annual general meeting within 15
months after the holding of its last preceding
annual general meeting is no longer
applicable. Single member company is
exempted from the requirements to holdannual general meeting. Previously it was
expressly stated that notice of an
extraordinary general meeting be sent to themembers at least 21 days before the date of
the meeting and in case of an emergency
affecting the business of the company, theregistrar on application of directors authorize
such meeting be held at such shorter notice as
specified. However, such requirement is nolonger specified. Further for companies otherthan listed companies if all members entitled
to attend and vote at any extra ordinary
general meeting so agree the meeting may beheld at a shorter notice. listed companies are
required to hold AGM only in the town whereregistered office is situated. Commission canallow to hold AGM in any other city.

under the articles were not available in the
Ordinance

Key Personnel
MEMBERS67
A complete and comprehensive definition of“member” has been inserted in the statute,with clarity that on the registration of acompany, the subscribers of the memorandum
shall become its members.

(a) Now, foreign persons who are notrequired to hold NTN68 are no more ineligible
to become director of a company. The Clauseof ineligibility of a person, who is or whose
spouse is engaged in business of brokerage is
extended to include Future Market Brokers
and their spouses.
(b) A person representing a creditor or otherspecial interests by virtue of contractual
arrangements and a person representing amember which is not a natural person are
eligible to be a director even if he is not amember of the company.

Quorum of General Meeting(1) The quorum requirement of a general
meeting also takes into account members
attending through video-link in addition tomembers present personally.
(2) The quorum of a company not having sharecapital shall be as provided in its articles.

Minimum number of directors
Minimum number of directors in case of
public limited company is 7 while it is 2 in caseof private limited company. Additionally,
public interest companies shall be required tohave female representation on their Board as
may be specified by the Commission, and only
natural person shall become a director.

Proxies
The provision on proxies shall continue to be
not applicable in the case of a company nothaving a share capital unless the articles of thecompany provide otherwise. These powers

Disqualification of Director
Through second amendment ordinance 2020
in July 2020, SECP has been empowered todisqualify a director in the following cases:

67 Section 118

68 Section 153 of companies’ amendment act, May 2020

https://cdn-cms.crowe.com/pk/-/media/Crowe/Firms/AsiaPacific/pk/CroweHorwathPK/1Updates/Companies-Act-2017--Significant-Amendments-May2020.pdf?la=enGB&modified=20200627142942&hash=574BDC760EA5D9C2B2126D938FAA370014E28DF9~ 39 ~

Pakistan’ sCompanies Act

DIRECTORSHow to do business in Pakistan?

1. against a person who entered into plea
bargain arrangements with NAB;
2. that it is expedient in the public interest soto do.

of the board and ensure that the board plays
an effective role in fulfilling its responsibilities.
Every financial statements of the company isrequired to contain a review report by thechairman on the overall performance of thecompany and effectiveness of the role playedby the board in achieving the company’s
objectives.

CHIEF EXECUTIVE
Appointment of subsequent chief executive
The subscribers to the memorandum
determine the name of the first chief executive
and the particulars, submitted along withincorporation documents. The first chief
executive hold office till the 1st AGM of thecompany. The Federal Government has been
empowered to appoint Chief executive of a
Public Sector Company in such a manner as
may be specified under this Act. The
subsequent chief executive for the next term of
3 years be appointed by the directors within
14 days from the date of elections. The Chief
Executive appointed on casual vacancy holdthat office till the directors elected in the next
election appoint a chief executive.

SECRETARY
Requirement for appointing a company
secretary having the specified qualifications
has been extended to all public companies
instead of listed companies only mentioned in
the Ordinance 1984. SMCs have been
exempted from appointing company secretary.
AUDITORS
Appointment, removal and fee of auditors
The first auditors now to be appointed within
ninety days of incorporation against 60 days inprevious Ordinance. The requirement ofsending the representation of retiring
auditors, (when they are not proposed to bereelected) to the members has been abolished.
Reading of the representation of retiring
auditors in the meeting shall serve thepurpose. Time frame of 30 days has beenprescribed to fill the casual vacancy of auditor.
In case of removal, the auditor shall only beremoved with the approval of the Commission.
In addition to it, the law also permits amember (of listed company) having not lessthan 10% shareholding of the company topropose any auditor or auditors forappointment whose consent has beenobtained by him and a notice in this regard has
been given to the company not less than 7 days
before the date of the annual general meeting.
Such a notice is also to be posted on thecompany’s website
Qualification and disqualification ofauditors

Removal of chief executive
Notwithstanding anything contained in thelaw, the Government or an authority or aperson authorized by it have the power toremove chief executive of a company wheremore than seventy-five percent of the voting
rights are held by the Government.
Chairman in a listed company
The board of listed companies appoints thechairman from amongst the non-executive
directors within 14 days from the date ofelection of directors, who holds office for aperiod of three years unless he earlier resigns,
becomes ineligible or disqualified under any
provision of the Act or removed by the
directors. The chairman and the chief
executive shall not be the same individual
except where provided for under any otherlaw and the board is required to clearly define
their respective roles and responsibilities. The
chairman shall be responsible for leadership~ 40 ~

Conditions have been prescribed for thequalification and disqualification of auditors,
such as the qualification of an auditor for
public company or a private company which is
subsidiary of a public company or a privatecompany having paid up capital of Rs 10,000000 or more is a chartered accountant having
valid certificate of practice from the Instituteof Chartered Accountants of Pakistan or a firmof chartered accountants. Audit of privatecompany having paid up capital of less than Rs.
10,000,000 can be conducted by either aChartered Accountant or Cost Management
Accountant. Previously it was not defined andanyone could conduct audit of privatecompanies having paid up capital below Rs.
3,000,000. The auditor will continue to beappointed by the firm name. Majority of thepartners of such firm should hold a valid
practice license. Previously this requirement
was for all the partners. As regards
disqualification of auditors, these conditions
now include inter alia a person who has given
a guarantee or provided any security inconnection with the indebtedness of any third
person to the company other than in theordinary course of business of such entities; aperson or a firm who, whether directly or
indirectly, has business relationship with thecompany other than in the ordinary course ofbusiness of such entities; a person who is not
eligible to act as auditor under the code of
ethics as adopted by the Institute of Chartered
Accountants of Pakistan and the Institute of
Cost and Management Accountants ofPakistan

the law obligates the company’s auditor,
within 14 days of appointment to submit a
copy of the consent letter given to thecompany, to the registrar. A company’s auditor
shall conduct the audit and prepare his reportin compliance with the requirements ofInternational Standards on Auditing as
adopted by the Institute of Chartered
Accountants
ofPakistan.
Additional
requirements - A company’s auditor mustcarry out such examination to enable him toform an opinion as to: whether adequate
accounting records have been kept by thecompany and returns adequate for their audit
have been received from branches not visitedby him; and whether the company’s financial
statements are in agreement with theaccounting records and returns. The auditor
shall express unmodified or modified opinion
in his report in compliance with therequirements of International Standards on
Auditing as adopted by the Institute ofChartered Accountants of Pakistan. The
Commission may by general or special order,
direct, that the statement of compliance, shallbe reviewed by the auditor who shall issue areview report to the members on the format
specified by the Commission
Audit of cost accounts The audit of costaccounts shall not be mandatory but shall bedirected by the Commission subject to therecommendation of the regulatory authority
supervising the business of relevant sector

Compliance
Code of Corporate Governance

Rights of auditor
Additional rights have been given to theauditors to call for and obtain informationfrom officers and employees of the company aswell as from the subsidiary companies and its
officers and employees

The Commission is expected to provide aframework to ensure good corporate
governance practices, compliance and matters
incidental and axillary for companies or classof companies in a manner as may be specified.

Restrictions and prohibitions

Duties of auditor~ 41 ~

Pakistan’ sCompanies Act

How to do business in Pakistan?

How to do business in Pakistan?

Alteration of Share Capital71
Condition of a special resolution to increase /consolidate / divide share has been mademandatory in the law.

Restriction on transfer of shares by themembers of a Private Company69
The law restricts the right of transfer of sharesin a private company by members andprovides a process to enable members totransfer their shares in a private company. The
main points of in this regard are highlighted
below:(1) A member of a private company desirous
to sell any shares held by him shall intimate to
the Board his intention through a notice.
(2) On receipt of such notice, the Board, withina period of ten days, shall offer those shares forsale to the members in proportion to their
existing shareholding.
(3) The letter of offer for sale specifying thenumber of shares to which the member isentitled, price per share and limiting a time,within which the offer, if not accepted, bedeemed as declined, shall be dispatched to themembers through registered post or courieror through electronic mode.
(4) If the whole or any part of the shares
offered is declined or is not taken, the Board
may offer such shares to the other members inproportion to their shareholding.
(5) If all the members refuse to accept the offer
or if any shares are left over, such shares may
be sold to any other person as determined by
the member, who initiated the offer.

Related party transactions
The expression ―’related party’ includes
i. A director or his relative: ii. A key managerial
personnel or his relative; iii. A firm, in which a
director, manager or his relative is a partner;
iv. A private company in which a director or
manager is a member or director; v. A publiccompany in which a director or manager is adirector or holds along with his relatives, any
shares of its paid up share capital; (vi)Anybody corporate whose chief executive or
manager is accustomed to act in accordancewith the advice, directions or instructions of adirector or manager; (vii) Any person onwhose advice, directions or instructions a
director or manager is accustomed to act:
Provided that nothing in sub-clauses (vi) and(vii) shall apply to the advice, directions or
instructions given in a professional capacity;(viii) Any company which is— (a) A holding,
subsidiary or an associated company of suchcompany; or (b) A subsidiary of a holding
company to which it is also a subsidiary; (xi)Such other person as may be specified. A
company may enter into any contract orarrangement with a related party only inaccordance with the policy approved by theboard, subject to such conditions as may be
specified, with respect to- (a) Sale, purchase or
supply of any goods or materials; (b) Selling orotherwise disposing of, or buying, property of
any kind; (c) Leasing of property of any kind;(d) Availing or rendering of any services; (e)Appointment of any agent for purchase or saleof goods, materials, services or property; andProhibition on acceptance of deposits
from public70
Only specialized companies (i.e. Banking
companies and such other company or class ofcompanies or such deposits as theCommission may notify) are allowed to raise
deposit from public. A company shall bepunishable in the event it accepts or invites
any deposit.

69 Section 76

70 Section 84 71 Section 85~ 42 ~

How to do business in Pakistan?

(f) Such related party's appointment to any
office or place of profit in the company, its
subsidiary company or associated company:

other case by the registrar. The condition foraudit is not applicable to a private company
having paid up capital not exceeding Rs.
1,000,000 (Except Public Interest company,
subsidiary of a public company, holding
company of a subsidiary company as provided
in 1st amendment 2020).
For a listed company, the provision forsending the financial statements electronicallyand posting it on Company’s website havebeen added. This rule is not applicable for toSingle Member Company, however, audit offinancial statements having paid up capital
exceeding Rs. 1,000,000 is mandatory.

Company accounts
Maintenance of Books of account
Every company is required to prepare andkeep at its registered office books of account,relevant books and papers, financial
statements for every financial year which givea true and fair value of the state of affairs of thecompany and that of its branch office.
Where a company has a branch office in or
outside Pakistan, proper books of accountrelating to the transactions effected at thebranch office are required to be kept at theoffice and proper summarized returns are
required to be sent periodically by the branch
office to the company at its registered office.
In the case of financial information, if any,
maintained outside the country, copies of suchfinancial information shall be maintained andproduced for inspection by any director.
The responsibility of maintaining andproducing books of accounts lies with every
director, chief executive, chief financial officerof the company.

A new provision has been added in law
whereby companies are allowed to pay thedividends in kind. Any dividend may be paidby a company either in cash or in kind only outof its profits. The payment of dividend in kindshall only be in the shape of shares of listedcompany held by the distributing company.
Directors are not allowed hold declared
dividend.

Power of registrar
The Act empowers the registrar, inspector orinvestigation officer to obtain permission from
Commission, without warrants, instead of
Magistrate of Court, as Companies Ordinance1984 directed, to freeze, seize or takepossession of and retain any document, object,article, material, thing, account books,
movable or immovable property or any
account, property or thing, if he has reasons tobelieve that documents, books and papers or
anything relating to any company or any chief
executive or officer of such company or any
associate of such person or is useful or
relevant to any proceedings or investigation
under this Act which is required or may bedestroyed.

Inspection of books of accounts by
Commission
The law allows any officer making theinspection of the books of accounts, to interalia take possession of such documents andretain them for thirty days if there arereasonable grounds for believing that they areevidence of the commission of an offence.
Financial statements
The first financial statement must be laid at theAGM within 16 months (previously this was 18
months) from the date of incorporation of thecompany, thereafter, within 120 days following
the close of financial year. This can be extended
by 30 days, by the Commission for listedcompany and in any~ 43 ~

Pakistan’ sCompanies Act

Dividend

How to do business in Pakistan?

Amalgamation of wholly owned
subsidiaries in holding company

or if a listed company suspend its business fora whole yea
Court may ascertain wishes of creditors orcontributories. In addition to this Court may
ascertain wishes of creditors or contributories
in all matters relating to the winding up of acompany if it thinks fit for the purpose ofascertaining their wishes, order meetings ofthe creditors or contributories to be called,
held and conducted in such manner as may bedirected; and appoint a person to act aschairman of any such meeting and to submit areport in this regard. Further, weightage towishes shall be based on the value of debt andvoting power.

The law allows amalgamation of wholly owned
subsidiaries, directly or indirectly, into holding
companies without the involvement ofCommission to facilitate amalgamation,subject to the conditions that: a) the scheme of
amalgamation is approved by the board ofeach amalgamating company; and b) eachresolution provides that i. The shares of eachtransferor company, other than the transfereecompany, will be cancelled without payment
or other consideration; and ii. The board issatisfied that the transferee company will beable to pay its debts as they fall due during theperiod of one year immediately after the dateon which the amalgamation is to become
effective and a declaration verified by anaffidavit to the effect will be filed with theregistrar; and iii. The person or persons
named in the resolution will be the director or
directors of the transferee company. Any
contravention or default in complying withrequirements of this rule is an offence liable toa penalty.

Appointment of official liquidator
The Commission shall maintain a panel for
appointment of provisional manager andofficial liquidator of a company or a company
to be wound up. Panel shall consist ofchartered accountants, advocates, company
secretaries,
cost
andmanagement
accountants, retired public servants having
relevant experience and such other persons as
specified by the Commission, having at leastten years’ professional experience.

Winding up by court

Removal of official liquidator
The Court may, on a reasonable cause being
shown including but not limited to lack of
independence or lack of impartiality, remove
the provisional manager or the official
liquidator, as the case may be, on any of thefollowing grounds, namely: a) misconduct; b)
fraud or misfeasance; c) professional
incompetence or failure to exercise due careand diligence in performance of the powers
and functions; d) inability to act as provisional
manager or official liquidator, as the case maybe; e) conflict of interest during the term of his
appointment that will justify removal. Where
the Court is of the opinion that any liquidator
is responsible for causing any loss or damage
to the company due to fraud or misfeasance or

In the circumstances in which a company may
be wound up by court following additional
provisions have been added.
if the company has made a default in filing withthe registrar its financial statements or annual
returns for immediately preceding two
consecutive financial years; or if the company
is carrying on business prohibited by any law
for the time being in force in Pakistan; or
restricted by any law, rules or regulations forthe time being in force in Pakistan; or if thesole business of the company is the licensed
activity and it ceases to operate consequent
upon revocation of a license granted by theCommission or any other licensing authority;~ 44 ~

How to do business in Pakistan?

failure to exercise due care and diligence in theperformance of his powers and functions, theCourt may recover or cause to be recovered
such loss or damage from the provisional
manager or official liquidator.
Powers and duties of official liquidator
Following additional powers have been given
to liquidator: to sell whole of the undertakingof the company as a going concern; to appointan Advocate entitled to appear before the
Court or such person as may be prescribed toassist him in the performance of his duties.

Conversion of a company of any classinto a company of other class andrelated matters72

Pakistan’ sCompanies Act

The process for change from public to private,
private to single member company, unlimited
to limited liability, limited by guarantee tolimited by shares and vice versa, for each of thecategories requires the Company to pass a
special resolution and seek prior approval of
the Commission.

72 Section 46 to 50~ 45 ~

How to do business in Pakistan?

Section 6:

Pakistan’s Corporate
Tax Regulation+~ 45 ~

How to do business in Pakistan?

Corporate Income Tax
Pakistan has the lowest corporate tax rate in the region, the corporate tax rate is 29% for the tax year
2020 and is imposed on the net taxable income of a company. Whereas, Small companies are taxed
at 23% rate that gradually will reduce by 1% annually till tax year 2023.
The federal corporate tax rates applicable on taxable income for year 2021 are given in table below:

Company TypeTaxable Income

Resident Company73

Tax Rate

Worldwide income
29%

Non-Resident Company

Pakistani Income

If the tax payable by a company is less than 1.5% of the turnover
Worldwide income (except
builder or developer)

Non-Resident Company

Pakistani Income (except
builder or developer)

The tax liability in that casewill be higher of alternative
corporate tax, 17% ofaccounting income, or the
total of corporate tax(including tax on net taxable
income, minimum tax andfinal taxes

Tax rate related with type of Company
Banking company

35%

Public company other than banking
company29%

Any other company

29%

Small company

20%

Figure 7: Corporate tax structure in Pakistan

73 A company is termed as resident if it is incorporated under the laws of Pakistan or if its management and controls are

situated wholly in Pakistan. In this context, branches of foreign companies are considered non- residents.

~ 46 ~

Pakistan’ s
Corporate Tax

Resident Company

How to do business in Pakistan?

Capital Gain Tax
Capital gain derived from the sale of immovable property are taxed under the normal tax regime at
rates that depends on the amount of gains, and to the extent of a prescribed percentage of the gains
that is computed based on the length of time the property was held.
The gain on open plot with holding period of one year is fully taxable. If the holding period is between
one to ten years 75% of the gain is taxable while after ten years, there is no tax on capital gain.
The capital gain tax rates for sale of immovable property are:Amount of gains

Rate of capital gain tax applicable

PKR 5 Million

5%

PKR 5 Million up to PKR 10 million

10%

PKR 10 Million up to PKR 15 million

15%

Exceeding PKR 15 Million

20%

Table 10: Rate applicable for Capital gain

Withholding Tax
Withholding is an act of deduction or collection of tax at source. In Pakistan, withholding provisions
relate to salary, imports, exports, commission and brokerage, dividend, contracts, profit on debt,
utilities, vehicles tax, stock exchange-related provisions and non-residents, etc., with varying rates.
Table 11: Withholding Tax rates for resident and non-resident companies
Type of Payment

Residents

Non-Residents

Dividends

7.5% or 25%

15%

Interests

10%, 15%

10%

Royalties

15%

15%

Fees for technical services

3%, 8%

15%~ 47 ~

How to do business in Pakistan?

Withholding tax paid in relation to exports

Taxable Transaction

1% of
gross
value

Export of goods

Realization of proceeds on account ofcommission to non-export indenting agent orbuying houses

5% of
gross
value

On realization of proceeds on account of saleof goods to an exporter under inland bac toback LC or any other arrangement may beprescribed by FBR

1%Exports of goods located in Export Processing
Zone (BPZ)

1% of
gross
value

Payments to Indirect Exporters as defined in
DTRE (Duty and tax remission for exporters)
rules, 2001

1% of
gross
value

Payment to indirect exporters as defined in
DTRE (Duty and Tax remission for exporters)
rules, 2001

1% of
gross
value

Clearance of goods exported

1% of
gross
value

Who will
deduct/collect/ agent
Every
Authorized
dealer in
Foreign
Exchange
Every
Authorized
dealer in
Foreign
Exchange

From Whom

Exporter

Non export
indenting agent
or buying houses

Every banking
company

Exporter

BPZ authority

Industrial
undertaking
located in Export
Processing Zone

DirectExporters/
Export houseregisteredunder DTRE
DirectExporters/
export houseregisteredunder DTRE
Collector ofcustomIndirectExporters

IndirectExporters

Exporter of goods

Table 12: WHT in relation to exports74

74

https://download1.fbr.gov.pk/Docs/2020728147649624WHTRateCard-Amended.pdf~ 48 ~

Pakistan’ s
Corporate Tax

Tax
rate

How to do business in Pakistan?

Pakistan’s Trade andInvestment Facilitation
Missions in the World~ 49 ~

How to do business in Pakistan?

Trade Missions Abroad

Country

Afghanistan /KabulContact
numbers

Addressand EmailOff:(009320)2202793,
2202773, Ext: (009320)2202745-6

Fax:(009320)2202871

Embassy of
Pakistan,
Commercial
Section, Karte
Parwan, Kabul.
mti.kabul@co
mmerce.gov.pk,
commwing@pa
kembassykabul
.com

Cell:

(0093)78-3083281

Res:(0093)77-8638833

URL:(009381)820066

Email:

OfficerDr. Kausar Ali
Zaidi/ Minister(Trade& Investment)

Email:

Off:

Afghanistan /Kandahar

Vacant / Trade &Investment
Counsellor
Fax:

www.pakemba
ssykabul.com
Consulate
General of
Pakistan,
Commercial
Section, Noroz
Shah Burj,
Ansari Mena,
Kandahar.
tic.kandahar@c
ommerce.gov.p
k,

Cell:
Res:

Algeria / Algiers

Mr. M. Qazafi
Rind / Trade &Investment
CounsellorOff:~ 50 ~

URL:(00213)23472442,(00213)23472041

www.mofa.gov.
pk/kandahar/
Villa No. 06,
CheminAbdelkader
Gadouche,
Lotissement
Pyzanne, Post
Code 16035
Hydra, Algiers

How to do business in Pakistan?

Fax:(00213)2347265
0

Cell:

(00213)798
384836

Res:

Argentina /Buenos Aires

URL:

Off:

(005411)47751294,(005411)47738081,
Dir: (005411)51975888

Fax:(005411)47761186

Mr. Jamil Ahmed
Baloch / Trade& Investment
Counsellor

Email:

Email:

tic.algiers@co
mmerce.gov.pk,
parepalgiers@mofa.gov.pk

mofa.gov.pk/al
geria-ourteam/Commercial
Section,Embassy of
Pakistan,Olleros 2130
(1426), Ciudad
Autonoma de
Buenos Aires(Argentina).
tic.buenosaires@commerce.go
v.pk,
pakcommar@g
mail.com

Cell:
Res:

Australia /SydneyURL:

Off:(00612)92205601,(00612)92205606

Fax:(00612)92230140

Cell:(0061)
438963131

Mr. Muhammad
Ashraf / Consul
General (Trade& Investment)Res:~ 51 ~

Email:

URL:

www.mofa.gov.
pk/argentina/
Consulate
General of
Pakistan,
Level-3, 109
Pitt Street,
N.S.W. Sydney
2000 (GPO Box
No. 5256),
Australia.
cg.sydney@co
mmerce.gov.pk,
acctts.admn@g
mail.com,
cg@pakconsulate.org.au

www.pakistan.
org.au/high_coHow to do business in Pakistan?

Bangladesh /
Dhaka

Off:

Dir: (00880)1997444-222

Fax:(008802)58813316

Mr. Zain Aziz/
Trade &
Investment
AttacheEmail:

mmision_sydne
y.php
High
Commission
for Pakistan,(Com. Section)
House NE (C) 2,
Road No. 71,
GulshanAvenue, Dhaka.
tia.dhaka@com
merce.gov.pk,
pakcom.bdg@t
dap.gov.pk

Cell:
Res:

Off:

Belgium /Brussels

Mr. OmarHameed /Economic
Minister

Fax:

Cell:
Res:

Belgium /Brussels

Mr.Muhammad Bilal Khan/

Off:

Trade &
Investment

URL:(00322)6759746 (Dir),(00322)6738007(Exch)(00322)6753137(0032)48351555
8(00322)3540743

Email:

URL:(00322)6632729,(0032-2)673800,(00322)6759746

AttacheFax:~ 52 ~(00322)6753137

Email:

www.mofa.gov.
pk/bangladesh/
Pakistan
Mission to theEuropean
Union,
Belgium, 57Avenue
Delleur, 1170Brussels.
em.brussels@c
ommerce.gov.pk,economic.secti
on@belgacom.
net

www.embassy
ofpakistan.beEmbassy of
Pakistan, 57
AvenueDelleur, 1170
Brussels(Belgium).
tic.brussels@co
mmerce.gov.pk,
commercialsec

How to do business in Pakistan?

retary@embas
syofpakistan.beCell:0032) 472978529

Res:

Brazil / Sao Paulo

URL:

Off:

(005511)55051981

Fax:(005511)55054934

Vacant/ Trade &Investment
Counsellor

Email:

www.embassy
ofpakistan.be
Commercial
Section,Embassy of
Pakistan,
Avenida Sao
Gabriel, 495;
Suite No. 72;
JardimPaulista; Sao
Paulo; Brazil.
CEP (Post
Code) 01435001
tic.saopaulo@c
ommerce.gov.pk,pakccsp@yaho
o.com

Cell:
Res:

Canada / Toronto

Mr. Azhar H.
Merchant /Consul General(Trade &Investment)

URL:

Off:

(001)514845229
7,(001)514845229
8Fax:(001)514845135
4

Email:

www.mofa.gov.
pk/brazil/
Consulate
General of
Pakistan, 3421
Peel Street,Montreal,
Quebec H3A
1W7, Canada.
tic.toronto@co
mmerce.gov.pk,
parepmontreal@bellnet.ca

Cell:
Res:

China / Beijing

Mr. Ghulam
Qadir/ Trade &Investment
Counsellor

Off:

URL:

(008610)65322581~ 53 ~

www.pakmissi
on.ca/
Embassy of
Pakistan,(Commercial
Section) No.1,
Dong Zhi Men

How to do business in Pakistan?
Wei Da Jie,
Beijing 100600
China.
tic.beijing.com
merce.gov.pk,(008610)65322872(Co
Fax:

Email: commercial@pak

bj.org,ticbeijing@163.c
om

Cell:

(008616)600073450

Res:

China / Hong
Kong

URL:

Off:

(00852)28271966,(00852)28270681

Fax:(00852)28276786

Cell:(0085-2)6353
2120

Mr. Bilal Ahmed
Butt / Consul
General (Trade& Investment)

Res:

China / Shanghai

Mr. Hussain
Haider / Consul
General (Trade& Investment)

Off:

Email:

URL:(008621)62377000~ 54 ~

www.pakbj.org.pk
Consulate
General of
Pakistan, 8034, Tung Wai
Commercial
Building, 109111 Gloucester
Road, Wan
Chai, HongKong.
cg.hongkong@commerce.gov.
pk,
consulate@pak
istan.hk,
parephk@bizn
etvigator.com
www.pakconhk.com
Consulate
General of
Pakistan, Suite
1111, Tower A,
SOHO,
Zohongshan
Plaza, 1055
West
Zhongshan
Road,
Shanghai,How to do business in Pakistan?

Fax:(008621)62377066

Cell:(0086)134
72617025

Res:

China /
Guangzhou

URL:

Off:

(008628)85268051,(008628)85268316

Fax:(008628)64656052

Cell:(0086)188
16791160

Mr. Muhammad
Irfan / Trade &Investment
CounselorRes:

Egypt / Cairo

Email:

Ms. Sidrah
Haque / Trade &Investment
AttacheOff:

Email:

URL:(00202)37487806,(00202)37487677

Fax:~ 55 ~

Email:

200051, P.R.
China.
cg.shanghai@commerce.gov.p
k,cgpakshanghai@yahoo.com

www.mofa.gov.
pk/shanghai/Consulate
General of
Pakistan,TongweiInternational
Center, HighTech Zone,
No.588 Middle
Section of
TianfuAvenue,8th Floor, Room No.2,
Chengdu610041,
SichuanProvince (P.R.
(China)tic.guangzhou@commerce.go
v.pk,
commercepkcg
cd@hotmail.commofa.gov.pk/guangzhouchina/
Embassy of
Pakistan, 8, El
Saluli Street,
Dokki, Giza,
Cairo
tia.cairo@com
merce.gov.pk

How to do business in Pakistan?

Cell:(0020)01021720
012

Res:

Ethiopia / Addis
Ababa

URL:

Off:

(00251)111-261492, (00251)111261-193

Fax:(00251)111-261324

Cell:(00251)9935318
44

Mr. Munir
Saddiq /Minister (Trade& Investment)

Res:

France / Paris

URL:

Off:

(00331)4563362(Dir),(
00331)45619977(Exc
h)

Fax:

(00331)45635366

Ms. Arooj
MehwishRizvi / Trade &Email:

Investment
Counsellor

Cell:~ 56 ~(0033-78)7713907

Email:

mofa.gov.pk/ca
iro-egypt/
Embassy ofIslamic
Republic ofPakistan,
House No: 146,
Arada sub city,
Woreda 7,
DejazmachWolde, Gebriel,
Street: Near
Gorgories
School. P.O.
Box No. 19795,
Addis Ababa
mti.addisababa@commerce.go
v.pk,
parepaddisaba
ba@mofa.gov.pk,parepaddisaba
ba@gmail.com

mofa.gov.pk/addis-ababaethiopia/
Embassy of
Pakistan(Commercial
Section), 32
Rue
Washington
75008-Paris,
France.
tic.paris@com
merce.gov.pk,
pak.emb.comm@wanadoo.fr,
pakcommsecti
on@gmail.com

How to do business in Pakistan?

Res:

Germany /FrankfurtOff:(0033)75881395
3(CA)(004969)6976970

Ms. Amna
Naeem/ Trade &(0091-11)26110601

Investment
Counsellor

Ext: 256

Fax:

URL:

(004969)69769720

Email:

www.pakembp
aris.com
Consulate
General of
Pakistan,(Commercial
Division)
Beethoven
StraBe 4,60325Frankfurt am
Main.
tic.frankfurt@c
ommerce.gov.pk,pakcom.frk@td
ap.gov.pk,
parep.cdf@tonline.de

Cell:
Res:

India / New Delhi

URL:

Off:

(009111)26110601,(009111)26110602(Ext-256), (009111)26871820

Fax:(009111)26872339

Vacant /(Minister) Trade& Investment

Email:

www.pakmissi
onfrankfurt.deHigh
Commission
for Pakistan,Commercial
Section, 2/50G, Shantipath,
Chanakyapuri,
New Delhi110021
mti.newdelhi@
commerce.gov.
pk,
commpakhc.in@gmail.com

Cell:
Res:

Indonesia /Jakarta

Ms. Fouzia
Perveen Ch. /Minister (Trade& Investment)Off:~ 57 ~

URL:(006221)57851723

pakhcnewdelhi.org.pk/
Embassy ofIslamic
Republic ofPakistan,
Commercial

How to do business in Pakistan?

Fax:(006221)57851726

Cell:(0062)81181041
41

Res:

Iran / Tehran

Dr. Amir
Hussain/ Trade

URL:

Off:

(009821)66944888-90,(009821)66941388-90,(009821)66913770(Dir)

Fax:(009821)66944889

Cell:(0098-90)46284835& Investment
CounsellorRes:

Italy / Rome

Mr. Khalid Hanif/ Trade &Investment
Counsellor

Email:URL:

Off:(003906)87694816

Fax:(003906)3296660~ 58 ~

Email:

Email:

Section, Jalan
Mega Kuningan
Barat, BlockE.3.9, Kav. 5-8,
Jakarta Selatan
12950
mti.jakarta@co
mmerce.gov.pk,
pakembassyjak
arta@gmail.com,Pakrepjkt@rad.net.id

www.mofa.gov.
pk/indonesia
Embassy of
Pakistan, Block
No.1, Koochae-Ahmad
Eitrnadzadeh,
Khayaban-e-Dr.
Hussein Fatimi,
Jamshedabad,
Shomali
Tehran 14118,
Iran.
tic.tehran@co
mmerce.gov.pk,
tehrancomm@gmail.com
www.mofa.gov.
pk/iran
Embassy of
Pakistan,
Commercial
Section, Via
Della
Camilluccia
682, 00135
Rome, Italy.
tic.rome@com
merce.gov.pk,

How to do business in Pakistan?
comsec@tiscali
.it
Cell:

(0039) 388
7215147

Res:

Japan / Tokyo

URL:

Off:

(00813)54213606,(00813)54217741/42

Fax:(00813)54213613

Mr. Tahir Habib
Cheema / Tradeand Investment
Counsellor

Email:

www.mofa.gov.
pk/italy
Embassy of
Pakistan(Commercial
Section), 4-617, MinamiAzabu, Minatoku, Tokyo-1060047
tic.tokyo@com
merce.gov.pk,
comsectk@yahoo.comCell:
Res:

Jordan / Amman

Kazakhstan /AlmatyOff:(009626)4622787,(009626)4624680

Fax:(009626)4611633

Mr. Khadim Ali /Trade andInvestment
AttacheMr. Muhammad
Farooque /Trade &
Investment
Counsellor

URL:

Email:

Cell:

<

Res:

URL:

Off:

~ 59 ~(007727)2938604

www.pakistanembassytokyo.com
17, Anwar Al
Khateeb Street,
North Abdoun,
Amman P.O.
Box No. 1232,
Amman11118,
Jordantia.amman@co
mmerce.gov.pk,
parepamman@
mofa.gov.pk
mofa.gov.pk/a
mman-jordan/
Embassy of
Pakistan,
Commercial
Section, 2ndfloor, Building
No. 20 A,
Kazybek Street,
Medeuskiy
district,
Almaty,How to do business in Pakistan?

Fax:(007727)2938591

Cell:(0077)77583300
6Res:

Kenya / Nairobi

URL:

Off:

(0025420)4443911,(0025420)4443912,(0025420)4447170
(Dir)

Fax:

(0025420)4446507

Cell:(00254)711421505

Mr. L D Khan /Trade andInvestment
Counsellor

Res:

Malaysia / Kuala Lumpur

Email:URL:

Off:(00603)21648158,(00603)21618877 (Ext.
113)

Fax:

(00603)21625843

Vacant / Trade &Investment

Email:

Counsellor

Email:

Kasakhstan
050010.
tic.almaty@co
mmerce.gov.pk,
parepalmaty.tr
ade@yahoo.comwww.pakistanembassy.kz/
High
Commission
for Pakistan,(Commercial
Section), St.
Michael Road,
P.O.Box 30045,
00100 GPO,
Nairobi, Kenya.
tic.nairobi@co
mmerce.gov.pk,
info@pakhc.or.
kewww.pakhc.or.
keHighCommission
for Pakistan,(Commercial
Section), 132Jalan Ampang
50450, Kuala
Lumpur,Malaysia
tic.kualalumpu
r@commerce.g
ov.pk,
pakcommercial@gmail.com

Cell:
Res:

~ 60 ~

URL:

www.mofa.gov.
pk/malaysia,

How to do business in Pakistan?

~ 61 ~

How to do business in Pakistan?

Mexico / Mexico
City

Off:

(005255)52033636

Fax:(005255)52039907

Cell:(0052)15539142
807

Ms. Shabana
Aziz / Trade &Investment
Counsellor

Res:

Morocco /Casablanca

URL:

Off:

(00212)522981864

Fax:(00212)522981950

Mr. Junaid A.
Memon / Trade& Investment
Counsellor

Cell:
Res:

Netherland / The
Hague

Email:

Rao Rizwan-ulHaq / Trade &Investment
CounsellorOff:(00212)616840305(00212)522950177(003170)3625075,(003170)3648948(Ext.: 235)

Email:

URL:

www.pakistan
hckl.com
Boulevard delos Virreyes
1015, Col.
Lomas deChapultepec,
Seccion V,
11000, Mexico
City
tic.mexicocity@commerce.go
v.pk,
parepmexico@
mofa.gov.pk

mofa.gov.pk/m
exico/
Embassy of
Pakistan,
Commercial
Section, 294
Boulevard
Yacoub EL
Mansour,
Espace Anfa,
1er etage, No 1,
Casablanca,
Morocco.
tic.casablanca@commerce.go
v.pk,
parepcasa@gm
ail.com,pakcom.mar@t
dap.gov.pk

www.mofa.gov.
pk/morocco
Embassy of
Pakistan,
Commercial
Wing,
Amaliastraat 8,2514 JC, The

How to do business in Pakistan?

Fax:(003170)3106047

Email:(003171)8885004

URL:

Hague, The
Netherlands.
tic.thehague@c
ommerce.gov.pk,commercial@p
akembassy.nl

Cell:
Res:

Off:

Nigeria / Lagos

Mr. Ali Tamkin
Butt / Trade &Investment
Attache
Fax:

Cell:
Res:

Poland / Warsaw

Mr. Muhammad
Zahid / Trade &Investment
Counsellor

Off:

Email:(00234)7064000
433(00234)9030001
376

URL:

(004822)6463018,(004822)8494808,(004822)8494938

Fax:

Email:

www.embassy
ofpakistan.com
Maisonette
103, Block 1,
Cluster B 1004
Estate Victoria
Island, Lagos ,Nigeria
tia.lagos@com
merce.gov.pk,
cslagos17@gm
ail.com

www.mofa.gov.
pk/nigeria
Embassy of
Pakistan,
Commercial
Section, Ulica
Wiertnicza 63,
02-952,
Warsaw,
Poland.
tic.warsaw@co
mmerce.gov.pk,
pakcom.pol@t
dap.gov.pk

Cell:
Res:

Qatar / DohaURL:

Ms. Serrein
Asad / Trade &Investment
AttacheOff:~ 61 ~(00974)4483557
0

www.mofa.gov.
pk/poland
Embassy of
Pakistan, Plot
No. 30,
Diplomatic
Area,
Ambassador
St., West Bay,How to do business in Pakistan?

Fax:(00974)3338277
6,(00974)4483222
7 (Dip)

Email:

Doha, P.O. Box.
334.
tia.doha@com
merce.gov.pk,
pakcomsec.doh
a@gmail.com,
mhd.salman.ali@gmail.com

Cell:
Res:

Russia / Moscow

URL:

Off:

(007495)7395636

Fax:(007495)7395625

Email:(0077)9663828222

URL:

Mr.
Muhammad Sh
aukat Hayat/
Minister (Trade& Investment)

www.mofa.gov.
pk/qatar
7 Koroviy Val
Street,Entrance No. 3,
Office 75
Moscow,
119049,RussianFederation,
Moscow.
mti.moscow@c
ommerce.gov.pk,tradewingep@
gmail.com,
mintrademos@
tdap.gov.pk

Cell:
Res:

Saudi Arabia /JeddahSayed A.
Waheed Shah /Trade &
Investment
Counsellor(0096612)6691054
Off:~ 62 ~

www.mofa.gov.
pk/russia
Consulate
General of
Pakistan(Commercial
Section),
Building No.5860, Ibrahim AlTassan Street
17-N, 7E,
Mushrifa
District/3(ONEIKISH),
P.O. Box 182,
Jeddah 21411,
Saudi Arabia.

How to do business in Pakistan?

~ 63 ~

How to do business in Pakistan?

Fax:(00966)1266905
61

Email:

tic.jeddah@co
mmerce.gov.pk,
pakcom.jdh@t
dap.gov.pk

Cell:
Res:

Mr. Azhar Ali
Dahar / Minister(Trade &Investment)

URL:

Off:

(0096611)4830809

Fax:(0096611)4881064

Saudi Arabia /RiyadhCell:
Res:

Sri Lanka /Colombo(00966)53
9350502(0096611)2970464

Off:(009411)2055681-2

Fax:(009411)2055697

Cell:(009476)9060376

URL:

Ms. Asmma
Kamal / Trade &Investment
AttacheRes:South Africa /Johannesburg

Email:

Ms. Humaira
Israr / Trade &Off:

Email:

URL:(002711)6465674,

www.mofa.gov.
pk/jeddah
Embassy of
Pakistan(Commercial
Section),
Diplomatic
Quarters, P.O.
Box 94007,
Riyadh 11693,
KSA.
mti.riyadh@co
mmerce.gov.pk,
pakcom.rdh@t
dap.gov.pk,
ahsahoo@gmai
l.com

www.pakemba
ssyksa.com
The High
Commission of
Pakistan in Sri
Lanka, No.
42&44, Bullers
Lane, Colombo
7
tia.colombo@commerce.gov.p
k,comsec.colomb
o@gmail.com

www.pakistan
hc.lk
Trade Missionof Pakistan, 90Virginia

How to do business in Pakistan?
Investment
Attache(002711)6465676

Fax:(002711)6468674

Cell:(002707)37393522

Res:South Korea /
Seoul

URL:

Off:

(00822)7975015,(00822)07968252,(00822)07960312

Fax:(00822)7961141

Cell:(0082-10)77264143

Mr. ImranRazzak / Trade& Investment
CounsellorRes:

Senegal / Dakar

Mr. Muhammad
Shoaib Anwar /Trade &
Investment
AttacheEmail:URL:

Off:(00221)3382461
35

Fax:

(00221)3382461
36

Cell:

(00221)777 404
995~ 64 ~

Email:

Email:

Avenue,Parkmore
2196,
Johannesburg,
South Africa,
P.O. Box653417,
Benmore 2010.
tia.johannesbur
g@commerce.g
ov.pk,
paktrade@telk
omsa.netwww.mofa.gov.
pk/southafrica
Embassy of
Pakistan(CommercialSection), 39
Jangmun-Ro, 9
GA-Gil,Yongsan-gu,
Seoul (04392),
Republic of
Korea
tic.seoul@com
merce.gov.pk,
cc@pkembassy.or.kr

www.pkembassy.or.kr
Embassy of
Pakistan,
Dakar, Senegal,
Fann Mermoze
Rue 11 x 6,
Villa No. 2.
tia.dakar@com
merce.gov.pk,
parepdakar@mofa.gov.pk

How to do business in Pakistan?

Res:

Spain / Madrid

Sudan /
Khartoum

URL:

Off:

(003491)3504943

Fax:(003491)3504946

Cell:(0034)67716998
4Res:(0034)91041053

Off:(00249-183)
265599, (00249183) 262199

Fax:(00249-183)273777

Mr. Ahmad Affan/ Trade &Investment
Counsellor

Mr. Ataullah/

Email:URL:

Trade& Investment
AttacheEmail:

mofa.gov.pk/dakar-senegal/
Embassy of
Pakistan(Commercial
Section), Calle
Pedro deValdivia No. 16,
PIO XII,
11,28006
Madrid, Spaintic.madrid@co
mmerce.gov.pk, pakcom.esp@t
dap.gov.pk

www.embajada-pakistan.org
House No. 108,
Block-1/ E,
Doha Street, AlManshiya(Behind Qatar
Embassy), East
Khartoum,Sudan
tic.khartoum@commerce.gov.
pk,
embkhartoum@live.com

Cell:
Res:

Sweden /Stockholm

Mr. Ghulam
Mustafa / Trade& Investment
Counsellor

URL:

Off:

(0046)8203300(press 3 for CS)

Fax:(0046)8249233~ 65 ~

Email:

mofa.gov.pk/khartoumsudan/
Embassy of
Pakistan,
Commercial
Section,Karlavanden
65, SE 11449,
Stockholm,
Swedentic.stockholm@commerce.gov.
pkHow to do business in Pakistan?

Cell:(0046)07656211
69

Res:

Switzerland /GenevaURL:

Off:(004122)7487012,(004122)7487011

Fax:(004122)7487029

Cell:(0041) 77 974
4765

Dr. M .Mujtaba
Piracha/Ambassador/PR
to WTORes:

Switzerland /GenevaVacant / Trade& Investment
Counsellor

Off:

Fax:
Cell:

URL:

(004122)7487010,(004122)7487020(004122)7487029(0041)79 359
1620

Res:

Switzerland /GenevaOff:~ 66 ~

Email:URL:

Mr. Fahad
Raza / Trade &Investment
Counsellor

Email:(004122)7487019

www.pakistanembassy.se
Permanent
Mission of
Pakistan to the
WTO, 37-39,
Rue deVermont, 3rd
Floor, Case, PO
box NO 133,
1211 Geneva
20 CICambassador.ge
neva@commer
ce.gov.pk,
info@wtopakistan.org

www.wtopakistan.org
Permanent
Mission of
Pakistan to the
WTO, 37-39,
Rue deVermont, 3rd
Floor, Case
1211, Geneva
20 CIC,Switzerland
tic.geneva@co
mmerce.gov.pk

www.wtopakistan.org
Permanent
Mission of
Pakistan to the
WTO, 37-39,
Rue deVermont, 3rd
Floor, Case, PO
box NO 133,

How to do business in Pakistan?

Fax:(004122)7487029

Email:

1211 Geneva
20 CICtic2.geneva@co
mmerce.gov.pk
,
-

Cell:

(0041-79)7631412

Res:

Tajikistan /Dushanbe

Malik Abdul
Majeed / Trade

URL:

Off:

(0099237)2276255,(0099237)2230177

Fax:(0099237)2510016,(0099237)2211729

Cell:(0099293)7770169& Investment
AttacheRes:

Thailand /Bangkok

Turkey / Istanbul

Mr. Nauman
Aslam/ Consul

URL:

Off:

(0066)22552330,(0066)22530288,(0066)22530289(Ext.211, 214,
216)

Fax:

(0066)22535325

Cell:(0066)62
9495909Res:(0066)26551732

Off:(0090212)3245827

Mr. M. Farrukh
Sharif / Trade &Investment
Counsellor~ 67 ~

Email:

Email:

URL:

www.wtopakistan.org
Azizbekova
Street, House
20 “A”,
Dushanbe,
Tajikistan
tia.dushanbe@
commerce.gov.
pk,
parepdushanbe@mofa.gov.pk,

www.mofa.gov.
pk/tajikistan/
Embassy of
Pakistan(CommercialSection), 31
SOI Nana Nua,(3), Sukhumvit
Road,Bangkok
10110.
tic.bangkok@c
ommerce.gov.pk,commercialsec
tionbkk@gmail.com

www.mofa.gov.
pk/thailand
Consulate
General of
Pakistan,

How to do business in Pakistan?
General (Trade& Investment)

UAE / Dubai

Fax:(0090212)3245170

Cell:(0090552)0339803

Res:(009021)23510415

Off:(009714)3972425,(009714)3973600

Fax:(009714)3976599

Dr. Adeem Khan
/ Trade &Investment
Counsellor

Cell:~ 68 ~

Email:

URL:

Email
:

Gullusokak No.
20, 3. Levent,
Istanbul,
Turkeycg.istanbul@co
mmerce.gov.pk, consulgeneral@pakconsulate
istanbul.com (Official e-mailof Consul
General)info@pakconsu
lateistanbul.com (for general
informationand queries)
trade@pakcons
ulateistanbul.com (for Trade
Inquiries)
parepistanbul@mofa.gov.pk (for ConsularServices)www.mofa.gov.
pk/istanbul
Consulate
General of
Pakistan, PO
Box No. 340,
Khalid Bin
Waleed Road,Al Hamaria
Diplomatic
Enclave (Trade
Division),
Dubai, UAE
tic.dubai@com
merce.gov.pk,
pakdubiz@gma
il.com,paktrade@eim.
aeHow to do business in Pakistan?

UK / London

Res:(009714)3357785

Off:(004420)76649215

Fax:(004474)59850906

URL:

Mr. Shafiq A.
Shahzad / Trade& Investment
Counsellor
Email:www.mofa.gov.
pk/dubaiHigh
Commission
for Pakistan(Economic &Trade Wing),
34-36 Lowndes
Square, London
SWIX 9 JN.
s.shahzad@phc
london.org,
tic.london@co
mmerce.gov.pk,
commercialcou
nsellor@phclondon.org,
shafiqshahzad@gmail.com

Cell:
Res:

UK / Manchester

URL:

Off:

(0044161)2255885,(0044161)2243484

Fax:(0044161)2255894

Mr. Muhammad
Akhtar / Trade& Investment
AttacheEmail:www.phclondon.org
Economic &Trade Division(N-Eng, N-Ire,
Scotland),Consulate
General of
Pakistan,
Pakistan
House, 139Dickenson
Road,
Rushlome,
Manchester
M14 5HZ
tia.manchester@commerce.go
v.pk

Cell:
Res:

USA / Houston

Ms. Shaista
Bunyad / TradeOff:~ 69 ~

URL:(001281)8905532,

www.pakistanconsulatebradford.com/manchesterConsulate
General ofHow to do business in Pakistan?

& Investment
AttacheUSA / Los Angeles(001281)8944014

Fax:(001281)8944027

Cell:(001832)8731007

Res:(001713)8427134

Off:(001310)4702368,(001310)4415114(Ext: 1030)

Email
:

URL:

Ms. Quratulain
Fatima/ Trade &Pakistan,
Commercial
Section, 11850
Jones Road,
Houston TX77070,
Houston, USA
tia.houston@co
mmerce.gov.pk,
pakcom.hus@t
dap.gov.pk

www.pakistanconsulatehouston.org
Consulate
General of
Pakistan,(TradeDivision)10700
Santa Monica
Blvd. # 211,
Los Angeles, CA
90025

tic.losangeles@co
mmerce.gov.pk, ,Investment
CounsellorFax:(001310)4419256

Email:pakcom.loa@td
ap.gov.pk,
pakcom.la@tda
p.gov.pk

Cell:
Res:

USA / New YorkMr. Talat
Mahmood /Trade &
Investment
CounsellorOff:~ 70 ~

URL:(001212)8793117

www.pakconsu
latela.org
Consulate
General of
Pakistan,(CommercialDivision), 12
East, 65th

How to do business in Pakistan?

Fax:

Cell:
Res:

USA / Washington
DC(001212)5176987(001646)4968398(001914)7250152

Off:(001202)2436500

Fax:(001202)6861534

Mr. Azmat
Mahmud /Minister (Trade& Investment)

Email
:

URL:

Email
:

Street,New
York NY 10065
tic.newyork@commerce.gov.pk,pakustrade@yahoo.comwww.pakistanconsulateny.org
Embassy of
Pakistan, 3517
International
Court, NW
Washington DC
20008
ministertrade@embassyofpa
kistanusa.org, azmat.khan@co
mmerce.gov.pk

Cell:
Res:

Vietnam / Hanoi

Mr. Ali Qayyum
Raja / Trade &Investment
Attache

URL:

Off:

(00844)37262254

Fax:(00844)37262253

Cell:(008498)9594658

Res:~ 71 ~

Email
:

URL:

www.embassy
ofpakistanusa.org
Embassy of
Pakistan, Villa
44/2 Van Bao
Street, Van
Phuc
Diplomatic
Compound, Ba
Dinh, Hanoi,
Vietnamtia.hanoi@com
merce.gov.pk,
cspakhanoi@g
mail.comwww.mofa.gov.
pk/vietnam

How to do business in Pakistan?

Important Links
1. Board of Investment https://invest.gov.pk/home
2. Federal Board of Revenue https://www.fbr.gov.pk/
3. Ministry of Commerce http://www.commerce.gov.pk/
4. Ministry of Finance http://www.finance.gov.pk/
5. Pakistan Official Visa Portal https://visa.nadra.gov.pk/
6. State bank of Pakistan https://www.sbp.org.pk/
7. Securities and Exchange Commission of Pakistan
https://eservices.secp.gov.pk/eServices/
8. Trade Development Authority of Pakistan https://tdap.gov.pk/~ 72 ~

How to do business in Pakistan?

Important Links
9. Board of Investment https://invest.gov.pk/home
10. Federal Board of Revenue https://www.fbr.gov.pk/
11. Ministry of Commerce http://www.commerce.gov.pk/
12. Ministry of Finance http://www.finance.gov.pk/
13. Pakistan Official Visa Portal https://visa.nadra.gov.pk/
14. State bank of Pakistan https://www.sbp.org.pk/
15. Securities and Exchange Commission of Pakistan
https://eservices.secp.gov.pk/eServices/
16. Trade Development Authority of Pakistan https://tdap.gov.pk/~ 73 ~

TRADE DEVELOPMENT AUTHORITY OF PAKISTAN I MINISTRY OF COMMERCEFTC Building, Block - A, Shahrah-e-Faisal, Karachi - Pakistan
Tel: +92-21-99206487- 90

UAN: 111-444-1110/tdapofficial

0/tdap_official