Changes in Pakistan after 2001
The most common Asian countries where outsourcing is practiced are Indonesia, Malaysia, Philippines, China, Taiwan, India, Pakistan, Bangladesh, Sri Lanka and many more. The most significant are only two which are India and China.
From the past twenty five years, Pakistan is coming up in the outsourcing market. After the terrorist attack, Pakistan has been a key ally in war with United States. Due to that reason many economic sanctions have been eased for Pakistan. Since then, Pakistan's economy has been rising.
The major financial and economic cities of Pakistan are Karachi, Lahore, Islamabad, Faisalabad, and many more. Faisalabad provides textile mills and factories which serves Wal-Mart Stores, Inc., TJ MAX, Target, and other departmental stores in USA. Sialkot provides sporting goods such as footballs or soccer balls for World Cup Soccer 2006 which was played in Germany.
Karachi is the largest and most populous city in the country. It accounts for 65% of provincial revenue. It houses major financial institutions and their headquarters such as ABN Amro Bank, HSBC, CitiBank NA, American Express Bank, Standard Chartered Bank, Deutsche Bank AG, Fidelity Investment Bank Limited, Franklin Investment Bank Limited, JP Morgan, and many more.
The recent trends in Information and Communications Technology (ICT), electronic media, call centers has become a significant part of Karachi. The recent addition of CNBC Pakistan and MTV Pakistan shows signs of westernization in Karachi. Karachi also offers largest manufacturing industry in the country. It offers from traditional textile factories to local and foreign automobile factories.
Adam Motor Company is the first local automobile company that manufactures 4X4 off road vehicles, light trucks, and cars. With many technical and science universities on rise, the percentage and quality of business and technical graduates have increased. Mostly these universities have foreign educated, qualified, and experienced faculties. The most influential university is Lahore University of Management Sciences (LUMS), backed by Harvard University, based at Lahore. In Karachi, Institute of Business Administration (IBA) is the major business and technical university which offers high quality of graduates.
There have been several projects outsourced to Pakistan. These are mainly done by Pakistani-American businesses with collaboration of Pakistani American Business Council. Many Pakistani-Americans have returned after 2001 and have started up their own IT corporations. Mainly are The Resource Group (TRG) Pakistan Limited, NetSol (Private) Limited, Si3 (Private) Limited.
Karachi has always been more westernized than following a traditional way of lifestyle. Many foreign companies have invested in various parts of Pakistan. The new coffee culture is amazing. Costa Coffee has several outlets in Karachi. People crave for different flavors and the crowds on these outlets shows the sign of coffee lovers. Besides coffee culture, there have been western fast food companies such as Pizza Hut, Dominos, KFC, Papa John’s have opened their restaurants.
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