Pakistan - the land of numerous unexplored opportunities has recently earned a good name in the international market for being a vibrant and progressive developing country in the world. The Government of Pakistan has adopted a liberal investment policy to attract maximum foreign investment, where foreign investors can hold up to 100% equity in several economic sectors. As a result, the foreign direct investment in the Country has increased substantially over the past few years, thus differentiating Pakistan from many other countries of the region. Also, the vital indicators of Pakistan's economy have shown extra-ordinary improvement such as enhanced GDP and GNP, increased foreign exchange reserves, stable Pakistani currency and improved balance of payments. Per capita income has crossed US$ 1513 and is further rising progressively.
Pakistan's economy is gaining more strength with each passing year, underpinned by a buoyant private sector. The world is witnessing the real GDP of Pakistan maintaining a steady growth at one of the fastest rates in the history of the Country and among the highest in the economies of the world. The international trade is increasing owing to revolutionary changes in tariff structures, better international relations and growing domestic demands, both at the industrial as well as consumer levels. The foreign exchange reserves are maintained at a respectable level. Major investments are underway in Plastic, Packaging, Paper & Print Sector, Engineering & Automobile manufacturing sector, ports and communication infrastructure, telecommunication, information technologies, developing newer sources of energy and power generation etc, to meet the increasing demands. Plastic, Packaging, Paper & Print Asia ventures to import strength to the Plastic Industry of Pakistan.
Pakistan's economy achieved an impressive GDP growth rate during the last three decades. The co-related industries of Plastic, Printing & Packaging have registered a phenomenal growth during the past few years where printing and graphic art industries are the 2nd largest in terms of work force deployment in Pakistan.
Pakistan's plastic industry is thriving at an average annual growth rate of 15% with a total estimated production capacity of 624,200 M/T per annum. The industry-attracted investment amounted to more than US$ 260 billion, almost half of which was foreign direct investment (FDI), all contributing to an exceptional export growth by 35%. Automotive, cosmetics, toys, chemicals, stationery, paper & board, electronics, food, publishing and furniture are some of the major industries utilizing materials and state-of-the-art equipment and technology to increase output and meet increasing demands in domestic & foreign markets.
Adding further strength to the industrial progress, Pakistan has established successful export markets for its plastic goods. In foreign markets including countries like Australia, South Africa, Saudi Arabia, West Indies, UAE, Kuwait, Taiwan, Nigeria and Zimbabwe, Pakistan is strategically well placed to target the all important local and international buyers in one of the world's largest trading regions. Particular growth is observed in exports of plastic components for the automobile industry. This growth occured due to entrepreneurial efforts for simplified tax policy on local production and reduction in import tariff on plastic raw materials. The industry is contributing more than Rs 7.5 billion annually to the national exchequer in shape of custom duty, sales tax and income tax.