Zarak Financial Pakistan
Office F-1/A, Plaza 105, Walayat Complex, Phase 7, Bahria Town, Islamabad, Pakistan Phone: 03458517238
The Ministry of Commerce deals with the exchange of goods and services from producer to final consumer. It comprises the trading of something of economic value such as goods, services, information or money between two or more entities.
What is the Role and function of the ministry of Commerce?
What is an Export Processing Zone (EPZ) ?
Export Processing Zones Authority is a Pakistan Government venture conceived and designed to increase and improve the exports of the country. Its main objectives are accelerating the pace of industrialization in the country and enhancing the volume of exports by creating an enabling environment for investors to initiate ambitious export-oriented projects in the Zones which would, as a corollary, create job opportunities, bring in new technology and attract foreign investment.
Established in 1980, the EPZA is one of the fast-growing projects undertaken by the government and carries a great appeal for both local and overseas investors. At EPZA we believe in providing quality services to achieve the goal of "export for progress." The reason for our success in this venture is simple: we provide service with a mission. And this success would not have come about without active cooperation and participation of some other sectors which worked closely with us and helped us stand where we are today.
The EPZA is pursuing an extensive programme to create a network of export processing zones in Pakistan. These EPZs are being established in close cooperation or under joint venture arrangements with the private sector. We invite you to move ahead and join hands with us for a better tomorrow.
What is the latest export and import policy?
What is Pakistan's Strategic Trade Policy to Promote Trade?
How can a Trade officer help and facilitate me in doing business in/with Pakistan?
Is there Insurance Coverage for foreign Investors/businessmen visiting Pakistan?
Yes, Insurance is provided by National Insurance Company owned by the Govt. of Pakistan. The Insurance covers visiting foreign buyers and their agents including terrorism coverage. For details regarding policy provisions, E-Mail email@example.com , firstname.lastname@example.org. Certificates of Insurance can be issued per the terms and conditions set by National Insurance Company.
What is the Competition Commission of Pakistan?
The key role of the competition commision of Pakistan is to provide a level playing field for business. (CCP) is an independent quasi-regulatory, quasi-judicial body that helps ensure healthy competition between companies for the benefit of the economy.
The Commission prohibits abuse of a dominant position in the market, certain types of anti-competitive agreements, and deceptive market practices. It also reviews mergers of undertakings that could result in a significant lessening of competition. Combined with its advocacy efforts, the Commission seeks to promote voluntary compliance and develop a ‘competition culture’ in the economy.
The Competition Commission of Pakistan (CCP) was established on 2 October 2007 under the Competition Ordinance, 2007, which was repromulgated in November 2009. Major aim of this Ordinance was to provide for a legal framework to create a business environment based on healthy competition for improving economic efficiency, developing competitiveness and protecting consumers from anti-competitive practices.
Prior to the Competition Ordinance, 2007, Pakistan had an anti-monopoly law namely ‘Monopolies and Restrictive Trade Practices (Control and Prevention) Ordinance’ (MRTPO) 1970. The Monopoly Control Authority (MCA) was the organization to administer this Law. In the fast changing global and national economic environment, the MRTPO, 1970 was inadequate to address competition issues effectively. This was because:
i) the 1970’s law was out of date for a modernizing and rapidly transforming market economy;
ii) due to several limitations in the law, the MCA was not able to meet the expectations of businesses and the consumers at large;
iii) the first generation reforms that liberalized the economy and encouraged the private sector required a competition policy framework that could promote and protect competition and innovation.
The Government of Pakistan thus launched a programme to develop Competition Policy as a key “second generation reform” initiative. Towards this end, the Ministry of Finance and the MCA worked with the World Bank and the Department for International Development (DFID), UK. As a result of these efforts, Competition Ordinance, 2007 replaced the MRTPO.After getting approve, Competition Ordinance 2007 finally transformed into Competition Act 2010.
The Competition Act, 2010 considers the current economic realities as well as corrects the deficiencies of the MRTPO related to definitional aspects, coverage, penalties, and other procedural matters.
In line with modern competition regimes, the law adopts a ‘carrot and stick” approach - the law provides for higher fines combined with imprisonment for non-compliance; on the other hand, the carrot is sweetened with sophisticated leniency provisions that may eventually lead to no fines and imprisonment, subject to certain conditions. To maintain high standard of evidence for unearthing secret cartels, the Competition Commission has legal powers to conduct searches and inspections’.
What is the International Finance Corporation?
IFC provides comprehensive solutions to clients in developing countries to address today’s greatest development challenges.
Where can I obtain information on Pakistan Trade Missions Abroad?
Pakistan Helpful Links
Awam, (Quetta and Islamabad)
Bolta Pakistan, Islamabad
City Press, Lahore
Thal Times (Bhakkar, Punjab)
Mussalman (Faizabad, Islamabad)
Daily Media, Lahore