Corporate sector of Pakistan
Open-knowledge reference entry
The Corporate sector of Pakistan (otherwise attributed as the Corporatization; or/ simply referred to as the Pakistan Inc.) is an elite business sector expanded in financial cities of Pakistan, and a policy measure programme in the economic period of Pakistan. This programme is also regarded as "Pakistan Inc.", which is a common term used by the mass-media of Pakistan to refer to the corporate sector of the nation. The current policy measure programme is the Companies Ordinance 2016 that legally allows a variety of formations in the mixed economy of Pakistan.
The programme was originally based on the Indian Companies Act, 1913, which was replaced by the Companies Ordinance 1984, finally being replaced by the current Companies Ordinance 2016 in a vision to promote a Western-styled corporate sector, and business activities development in Pakistan. The corporate sector came in direct response to nationalization programme of executed Prime Minister Zulfiqar Ali Bhutto and the Pakistan Peoples Party to promote corporate business. This programme was integrated in Privatization programme of Prime Minister Nawaz Sharif in 1990 who gave a free hand to the private sector to expand the economic activities in the country. The corporate sector continued to expand in Prime Minister Benazir Bhutto's government who promoted the nationalization and privatization at once. In 2004, in a programme initiated by Prime Minister Shaukat Aziz, the corporate sector further enhanced and matured; it had built a strong and sizeable sector in the financial hubs of the country.
Under Aziz, many of state-owned megacorporations along with private sector had been registered in stock exchanges of the country in order to promote business competition in the country.
Growth trend
The Securities and Exchange Commission of Pakistan has registered 920 new companies in the first quarter of 2005.
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This entry incorporates text from “Corporate sector of Pakistan” on English Wikipedia. Contributors are listed in the page history. Text is available under the Creative Commons Attribution-ShareAlike 4.0 License. Selected authority identifiers and statements are retrieved from Wikidata under CC0; their references and qualifiers remain part of the verification path.