Global Business Management: Pakistan - Term Paper Example

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Pakistan August 1947 demarcates three major events in the world history and political scenario. End of British rule in South Asian subcontinent, independence of India and creation of an independent Islamic Country in the world map since known as “The Islamic Republic of Pakistan”, popularly known as Pakistan…
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Download file to see previous pages About 8000 years BC, Indus Civilization was prominent in this region with rise of famous cities like Mohenjo-Daro and Harappa. Gandhara civilization started with the exploration of Alexander the great and spread of Buddhism by 326 BC. Islamic period started by 712 AD with the visit of Arab General Muhammad Bin Qasim followed by Mahmud Ghaznavi by 10th century AD. Islamic civilization and culture dominated other beliefs resulting in wider and deeper adoption which influenced the culture, architecture and lifestyle of people. After the death of Mughal Emperor Aurangzeb in 1707, the Sikhs established an empire uniting Punjab under the leadership of famous Sikh ruler Maharaja Ranjit Singh. Sikh religion is a combination of the Sufi and Bhakti school of thought developed due to few of the illogical practices by Brahmins. Unstable political and economic situations provided opportunities for the British East India Company to set foot and expand the empire. Influenced by the western culture and architecture many educational institutes and railroads developed. Anti-British mentality due to British administration resulted in mass revolts led by Mahatma Gandhi paving the way for creation of the modern country Islamic Republic of Pakistan. Geography Pakistan lies between 23-35 to 37-05 north latitude and 60-50 to 77-50 east longitude touching the Hindukush Mountains in the north. Pakistan spreads across to 796,095 Sq. Kilometers and carries approx 132.35 million human beings. Pakistan is divided into four provinces and mostly has cold and pleasant climatic conditions. Pakistan has an agriculture based economy with irrigation systems and cultivated land. A wide variety of fruits and crops are grown with abundance of natural gas, coal, salt and iron. The current global economic conditions have paved the way for industrial development. Economic System The economy of Pakistan has gone through turbulent times in the past and latest world economic developments and activities. In terms of purchasing power Pakistan’s economy is placed 28th and placed at 45th rank in dollar terms. Pakistan has a semi-industrial economy mostly driven by the agricultural output. Other industries with growth potential are textiles, chemicals, food processing, and agri-based industries. The internal political instability, eco-political and socio-economic conflicts between the neighboring states have impacted the economy, with mixed levels of foreign investment. Power (Energy) generation is another sector which has been impacted and affected the industrial growth of Pakistan. During the latest economic recession (2008), Pakistan faced major economic crisis where it reached a state of “balance of payment” situation. IMF bailed out Pakistan in November 2008 with a loan amount of $11.3 Billion. The nation’s role in the “War on Terror” has also created significant instability which affected the FDI to $3.5 Billion from expected $8 Billion. Unclear political and military agenda has put Pakistan into various challenging situations attracting financial sanctions from United States and other Countries. A stable government with clear internal and external affair policies would help Pakistan to grow its economy better. Legal System Legal system in Pakistan has evolved over centuries with influence from the social and economic condition of the nation during the Hindu era, the Islamic dominion and the British era. Essence of the Pakistani judicial system is ...Download file to see next pagesRead More
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