Diplomatic representation in US: chief of mission: Ambassador Maleeha LODHI chancery: 2315 Massachusetts Avenue NW, Washington, DC 20008 telephone: [1] (202) 939-6200 FAX: [1] (202) 387-0484 consulate(s) general: Los Angeles and New York
US diplomatic representation: chief of mission: Ambassador John C. MONJO embassy: Diplomatic Enclave, Ramna 5, Islamabad mailing address: P. O. Box 1048, PSC 1212, Box 2000, Unit 6220, Islamabad; APO AE 09812-2000 telephone: [92] (51) 826161 through 826179 FAX: [92] (51) 214222 consulate(s) general: Karachi, Lahore consulate(s): Peshawar
Flag: green with a vertical white band (symbolizing the role of religious minorities) on the hoist side; a large white crescent and star are centered in the green field; the crescent, star, and color green are traditional symbols of Islam
@Pakistan:Economy
Overview: The Pakistani economy has made progress in several key areas since Benazir BHUTTO became Prime Minister in October 1993. She has been under pressure from international donors and the IMF - which gave Pakistan a $1.3 billion structural adjustment credit in February 1994 - to continue the economic reforms and austerity measures begun by her predecessor, caretaker Prime Minister Moeen QURESHI (July-October 1993). Foreign exchange reserves climbed to more than $3 billion in 1994, and the budget deficit was substantially reduced. Real GDP growth was 4% in FY93/94, up from 2.3% in FY92/93. Foreign direct and portfolio investment also have increased. Privatization of large public sector utilities began in 1994 with the sale of 12% of the Pakistan Telecommunications Corporation (PTC) and the Water and Power Development Authority (WAPDA); the sale of state-owned banks and other large units are planned for 1995. Still, the government must cope with long-standing economic vulnerabilities - high levels of debt service and defense spending, a small tax base, a huge population, and dependence on cotton-based exports - which hamper its ability to create a stable economic environment. In addition, Pakistan's infrastructure is inadequate and deteriorating, low levels of literacy constrain industrial growth, and increasing sectarian, ethnic, and tribal violence disrupt production.
National product: GDP - purchasing power parity - $248.5 billion (1994 est.)
National product real growth rate: 4% (1994 est.)
National product per capita: $1,930 (1994 est.)
Inflation rate (consumer prices): 12% (FY93/94)
Unemployment rate: 10% (FY90/91 est.)