Marketing in Pakistan Market
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Responsible for Pakistan's monetary policy is the Ministry of Finance and the Central and State Banks. All kinds of investment banks and financial development institutions and all kinds of investment funds are responsible for transferring money and capital flows in the country.
In the field of money transfer, since 1994, Pakistan has set new principles for currency conversion. In other words, importers do not need prior authorization to withdraw foreign currency and make their payments through FEBC foreign exchange remittances, which can be purchased in Pakistani currency (rupee) and can be easily converted into foreign currency. Of course, opening a credit account for the transfer of remittances requires various assessments such as the quality and type of imported products. Export-dependent currencies must be stored at the Central Bank of Pakistan and received in exchange for currency.
To convert currency, the Central Bank of Pakistan calculates the exchange rate of rupees to various currencies in US dollars and adjusts it based on the following.
- Relative changes in the currencies of Pakistan's main foreign trade partners against the dollar
- The extent of Pakistan's inflation gap with these foreign partners
Pakistan tax laws
Taxes in the Government of Pakistan are collected following the laws of the central government from all sources of direct taxes and consumption and sales taxes, including customs duties, consumption and sales. However, state governments levy land taxes, agricultural income taxes, real estate taxes, and other sharp local taxes. Direct taxes usually include wages, real estate income, business income, capital gains, and other sources of income. Pakistan's tax year ends on June 30 every year for 12 months.
But the central government also considers December 31 of each year as the end of the fiscal year. The taxpayer includes a natural or legal person.
Export to Pakistan
Pakistan's total imports of goods in 2017 were $ 55.6 billion, making it the 47th largest exporter in the world.
The article "Exports to Pakistan" contains complete information about the top imports of Pakistan, exporting countries to Pakistan, the largest source of imports from the continents to Pakistan, along with practical diagrams and..
Imports from Pakistan
Pakistan's total exports in 2017 were $ 24.8 billion, making it the 68th largest exporter in the world.