105-652: Left Bank Outfall Drain is a drainage canal in Pakistan . Built between 1987 and 1997 using funding from the World Bank , the canal collects saline water, industrial effluents and Indus river basin floodwater from more than two million hectares of land of Shaheed Benazirabad, Sanghar, Mirpurkhas and Badin districts located in Nara River basin into the Arabian Sea . The canal overflowed in 2003 and 2011, causing widespread flooding it
210-450: A Pew Research Center (PEW) poll, favor Sharia law as the official law, and 94 percent of them identify more with religion than nationality compared to Muslims in other nations. Pakistan, a federal parliamentary republic , consists of four provinces : Punjab, Khyber Pakhtunkhwa, Sindh, and Balochistan, along with three territories : Islamabad Capital Territory , Gilgit-Baltistan , and Azad Kashmir . The Government of Pakistan governs
315-542: A military coup in 1977 against the leftist PPP, which saw General Zia-ul-Haq become the president in 1978. From 1977 to 1988, President Zia's corporatisation and economic Islamisation initiatives led to Pakistan becoming one of the fastest-growing economies in South Asia. While building up the country's nuclear program , increasing Islamisation , and the rise of a homegrown conservative philosophy, Pakistan helped subsidise and distribute US resources to factions of
420-761: A supermajority in elections in 1997, Nawaz Sharif authorised nuclear testings , as a retaliation to the second nuclear tests conducted by India in May 1998. Military tension between the two countries in the Kargil district led to the Kargil War of 1999, and turmoil in civil-military relations allowed General Pervez Musharraf to take over through a bloodless coup d'état . Musharraf governed Pakistan as chief executive from 1999 to 2002 and as president from 2001 to 2008 —a period of enlightenment , social liberalism , extensive economic reforms , and direct involvement in
525-481: A 2019 Forest Landscape Integrity Index mean score of 7.42/10, ranking 41st globally out of 172 countries. Pakistan operates as a democratic parliamentary federal republic , with Islam designated as the state religion . Initially adopting a constitution in 1956 , Pakistan saw it suspended by Ayub Khan in 1958, replaced by a second constitution in 1962. A comprehensive constitution emerged in 1973, suspended by Zia-ul-Haq in 1977 but reinstated in 1985, shaping
630-408: A blend of socialism , conservatism , and the third way , with the three main political parties being the conservative PML (N), socialist PPP, and centrist PTI. Constitutional amendments in 2010 curtailed presidential powers, enhancing the role of the prime minister. Pakistan, the only country established in the name of Islam, had overwhelming support among Muslims, especially in provinces like
735-463: A centre for finance in the Middle East , including for Islamic finance . The rapid rise of India has enabled Mumbai to become an emerging financial centre. India is also making an International Financial Centre GIFT City from scratch. GIFT city is now functional and has already won the crown of fastest emerging International Finance Centre of South Asia. Linked to the rise of these new IFCs, has seen
840-569: A cool, dry winter from December through February; a hot, dry spring from March through May; the summer rainy season, or southwest monsoon period, from June through September; and the retreating monsoon period of October and November. Rainfall varies greatly from year to year, with patterns of alternate flooding and drought common. The diverse landscape and climate in Pakistan support a wide range of trees and plants. From coniferous alpine and subalpine trees like spruce , pine , and deodar cedar in
945-604: A devastating cyclone in East Pakistan resulting in 500,000 deaths. In 1970, Pakistan conducted its first democratic elections since independence, intending to transition from military rule to democracy. However, after the East Pakistani Awami League emerged victorious over the Pakistan Peoples Party (PPP), Yahya Khan and the military refused to transfer power. This led to Operation Searchlight ,
1050-524: A financial city: "a pool of capital to lend or invest; a decent legal and taxation framework; and high-quality human resources". New York, London, and Tokyo are in every list of major IFCs. Some of the major RFCs (see below), such as Paris, Frankfurt, Chicago, and Shanghai appear as IFCs in some lists. These centres appear in all FSF–IMF lists of OFCs and, bar the Caribbean OFCs of the Cayman Islands,
1155-542: A leading international financial centre since the 19th century , acting as a centre of lending and investment around the world. English contract law was adopted widely for international finance , with legal services provided in London. Financial institutions located there provided services internationally such as Lloyd's of London (founded 1686) for insurance and the Baltic Exchange (founded 1744) for shipping. During
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#17328513667741260-527: A major financial centre in the 1980s as the Japanese economy became one of the largest in the world. Hong Kong and Singapore developed soon after leveraging their links with London and Britain. In the 21st century, other centres have grown including Toronto, Sydney, Seoul, Shanghai and Astana . Astana International Financial Centre has become the fastest growing financial hub in Central Asia. Dubai has become
1365-716: A military crackdown, and eventually sparked the war of liberation by Bengali Mukti Bahini forces in East Pakistan, described in West Pakistan as a civil war rather than a liberation struggle. Independent researchers estimate that between 300,000 and 500,000 civilians died during this period while the Bangladesh government puts the number of dead at three million, a figure that is now nearly universally regarded as excessively inflated. Some academics such as Rudolph Rummel and Rounaq Jahan say both sides committed genocide; others such as Richard Sisson and Leo E. Rose believe there
1470-495: A population of over 241.5 million, having the second-largest Muslim population as of 2023. Islamabad is the nation's capital, while Karachi is its largest city and financial centre . Pakistan is the 33rd-largest country by area . Bounded by the Arabian Sea on the south, the Gulf of Oman on the southwest, and the Sir Creek on the southeast, it shares land borders with India to
1575-460: A result of a coalition between PML (N) and PPPP. Pakistan's diverse geography and climate host a wide array of wildlife . Covering 881,913 km (340,509 sq mi), Pakistan's size is comparable to France and the UK combined. It ranks as the 33rd-largest nation by total area , but this varies based on Kashmir's disputed status. Pakistan boasts a 1,046 km (650 mi) coastline along
1680-800: A united Islamic bloc, called Islamistan, wasn't supported by other Muslim governments, though figures like the Grand Mufti of Palestine, Al-Haj Amin al-Husseini , and leaders of the Muslim Brotherhood were drawn to the country. Pakistan's desire for an international organization of Muslim countries was fulfilled in the 1970s when the Organization of Islamic Conference (OIC) was formed. East Pakistan's Bengali Muslims, opposed to an Islamist state, clashed with West Pakistanis who leaned towards Islamic identity. The Islamist party Jamaat-e-Islami backed an Islamic state and opposed Bengali nationalism . After
1785-420: A wide range of financial services , for example relating to mergers and acquisitions , public offerings , or corporate actions ; or which participate in other areas of finance , such as private equity , hedge funds , and reinsurance . Ancillary financial services include rating agencies , as well as provision of related professional services , particularly legal advice and accounting services. As of
1890-1212: A working paper on OFCs, but which also proposed a taxonomy on classifying the various types of global financial centres, which they listed as follows (with the description and examples they noted as typical of each category, also noted): The IMF noted that the three categories were not mutually exclusive and that various locations could fall under the definition of an OFC and an RFC, in particular (e.g. Singapore and Hong Kong were cited). International Financial Centres, and many Regional Financial Centres, are full–service financial centres with direct access to large capital pools from banks, insurance companies, investment funds, and listed capital markets, and are major global cities . Offshore Financial Centres, and also some Regional Financial Centres, tend to specialise in tax-driven services, such as corporate tax planning tools , tax–neutral vehicles, and shadow banking / securitisation , and can include smaller locations (e.g. Luxembourg ), or city-states (e.g. Singapore). Since 2010, academics consider Offshore Financial Centres synonymous with tax havens . The IMF noted that OFCs could be set up for legitimate purposes (listing various reasons), but also for what
1995-458: Is a diverse range of financial centres worldwide. While New York and London often stand out as the leading global financial centres, other established financial centres provide significant competition and several newer financial centres are developing. Despite this proliferation of financial centres, academics have discussed evidence showing increasing concentration of financial activity in the largest national and international financial centres in
2100-686: Is a location with a significant concentration of participants in banking asset management , insurance , and financial markets , with venues and supporting services for these activities to take place. Participants can include financial intermediaries (such as banks and brokers), institutional investors (such as investment managers, pension funds , insurers, and hedge funds ), and issuers (such as companies and governments). Trading activity can take place on venues such as exchanges and involve clearing houses , although many transactions take place over-the-counter (OTC), directly between participants. Financial centres usually host companies that offer
2205-742: Is an ethnically and linguistically diverse country, with similarly diverse geography and wildlife . The country continues to face challenges, including poverty , illiteracy , corruption , and terrorism . Pakistan is a member of the United Nations, the Shanghai Cooperation Organisation , the Organisation of Islamic Cooperation , the Commonwealth of Nations , the South Asian Association for Regional Cooperation , and
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#17328513667742310-544: Is both a Persian and Urdu word... It means the land of the Paks, the spiritually pure and clean." Etymologists note that پاک pāk , is 'pure' in Persian and Pashto and the Persian suffix ـستان -stan means 'land' or 'place of'. Rahmat Ali's concept of Pakistan only related to the northwestern area of the Indian subcontinent . He also proposed the name "Banglastan" for
2415-438: Is considered a middle power nation, with the world's sixth-largest standing armed forces . It is a declared nuclear-weapons state , and is ranked amongst the emerging and growth-leading economies, with a large and rapidly growing middle class. Pakistan's political history since independence has been characterized by periods of significant economic and military growth as well as those of political and economic instability. It
2520-514: Is directly discharged into sea through 41 km long Tidal Link Canal. Drainage capacity of canal has been increased to 9000 cusecs after 2011 floods by de-silting of bed of drain, raising banks up to two feet, repairing damaged hydraulic structures and by clearing vegetative growth. The creation of the canal has been said to have a negative impact on wetlands in the area, especially in India's Great Rann of Kutch area, and by releasing LBOD's salt water into
2625-658: Is divided into three major geographic areas: the northern highlands, the Indus River plain, and the Balochistan Plateau. The northern highlands feature the Karakoram , Hindu Kush , and Pamir mountain ranges, hosting some of the world's highest peaks, including five of the fourteen eight-thousanders (mountain peaks over 8,000 metres or 26,250 feet), notably K2 (8,611 m or 28,251 ft) and Nanga Parbat (8,126 m or 26,660 ft). The Balochistan Plateau lies in
2730-850: Is the only animal found in significant numbers in Cholistan , with a few nilgai along the Pakistan–India border and in some parts of Cholistan. Rare animals include the snow leopard and the blind Indus river dolphin , of which there are believed to be about 1,816 remaining, protected at the Indus Dolphin Reserve in Sindh. In total, 174 species of mammals, 177 species of reptiles, 22 species of amphibians, 198 species of freshwater fish, 668 species of birds, over 5,000 species of insects, and over 5,700 species of plants have been recorded in Pakistan. Pakistan faces deforestation, hunting, and pollution, with
2835-747: The Anglo-Sikh Wars (1845–1849), and the Anglo-Afghan Wars (1839–1919). By 1893, all modern Pakistan was part of the British Indian Empire , and remained so until independence in 1947. Under British rule, modern Pakistan was primarily divided into the Sind Division , Punjab Province , and the Baluchistan Agency . The region also included various princely states , with the largest being Bahawalpur . The major armed struggle against
2940-1077: The Bronze Age , and the ancient Gandhara civilisation . The regions that compose the modern state of Pakistan were the realm of multiple empires and dynasties, including the Gandhāra , the Achaemenid , the Maurya , the Kushan , the Parthian , the Paratarajas , the Gupta ; the Umayyad Caliphate in its southern regions, the Hindu Shahis , the Ghaznavids , the Delhi Sultanate , the Samma ,
3045-556: The Durrani Empire of Afghanistan in 1759. The growing political power of the British in Bengal had not yet reached the territories of modern Pakistan. None of modern Pakistan was under British rule until 1839 when Karachi , a small fishing village governed by Talpurs of Sindh with a mud fort guarding the harbour, was taken , and used as an enclave with a port and military base for
3150-704: The First Afghan War that ensued. The remainder of Sindh was acquired in 1843, and subsequently, through a series of wars and treaties, the East India Company , and later, after the post- Sepoy Mutiny (1857–1858), direct rule by Queen Victoria of the British Empire , acquired most of the region. Key conflicts included those against the Baloch Talpur dynasty , resolved by the Battle of Miani (1843) in Sindh,
3255-860: The Global Financial Centres Index and the Xinhua–Dow Jones International Financial Centres Development Index . The Global Financial Centres Index ("GFCI") is compiled semi-annually by the London -based think tank Z/Yen in conjunction with the Shenzhen -based think tank China Development Institute . The 36th edition of the GFCI was published in September 2024. Old finance centres such as Amsterdam, London, Paris, and New York have long histories . Today there
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3360-591: The Greco-Buddhist culture in the region. Taxila had one of the earliest universities and centres of higher education in the world, which was established during the late Vedic period in the 6th century BCE. The ancient university was documented by the invading forces of Alexander the Great and was also recorded by Chinese pilgrims in the 4th or 5th century CE. At its zenith, the Rai dynasty (489–632 CE) ruled Sindh and
3465-620: The Indian pangolin , the jungle cat , and the sand cat . Indus is home to mugger crocodiles , while surrounding areas host wild boars , deer, and porcupines . Central Pakistan's sandy scrublands shelter Asiatic jackals, striped hyenas , wildcats, and leopards . The mountainous north hosts a variety of animals like the Marco Polo sheep , urial , markhor goat, ibex goat, Asian black bear , and Himalayan brown bear . The lack of vegetative cover, severe climate, and grazing impact on deserts have endangered wild animals. The chinkara
3570-729: The Islamic Military Counter-Terrorism Coalition , and is designated as a major non-NATO ally by the United States. The name Pakistan was coined by Choudhry Rahmat Ali , a Pakistan Movement activist, who in January 1933 first published it (originally as "Pakstan") in a pamphlet Now or Never , using it as an acronym . Rahmat Ali explained: "It is composed of letters taken from the names of all our homelands, Indian and Asian, P anjab , A fghania , K ashmir , S indh , and Baluchis tan ." He added, "Pakistan
3675-570: The Italian city-states (such as Venice and Genoa ) of the late medieval and early Renaissance periods while Florence can be said to be the birthplace of double-entry bookkeeping from the publication and proliferation of the work of Luca Pacioli . In the sixteenth century, the overall economic supremacy of the Italian city-states gradually waned, and the centre of financial activities in Europe shifted to
3780-457: The Low Countries , first to Bruges , and later to Antwerp and Amsterdam which acted as Entrepôt cities. They also became important centres of financial innovation, capital accumulation and investment. By the early 1800s, London officially replaced Amsterdam as the world's leading financial centre. London and Paris were the world's only prominent financial centres throughout most of
3885-678: The North-West Frontier Province , West Punjab , and Sindh. In the riots that accompanied the partition in Punjab Province, between 200,000 and 2,000,000 people were killed in what some have described as a retributive genocide between the religions. Around 50,000 Muslim women were abducted and raped by Hindu and Sikh men, while 33,000 Hindu and Sikh women experienced the same fate at the hands of Muslims. Around 6.5 million Muslims moved from India to West Pakistan and 4.7 million Hindus and Sikhs moved from West Pakistan to India. It
3990-977: The Shah Miris , the Mughals , the Durranis , the Sikhs and most recently, the British Raj from 1858 to 1947. Spurred by the Pakistan Movement , which sought a homeland for the Muslims of British India , and election victories in 1946 by the All-India Muslim League , Pakistan gained independence in 1947 after the Partition of the British Indian Empire , which awarded separate statehood to its Muslim-majority regions and
4095-578: The United Provinces , where Muslims were a minority. This idea, articulated by the Muslim League, the Islamic clergy , and Jinnah, envisioned an Islamic state . Jinnah, closely associated with the ulama , was described upon his death by Maulana Shabbir Ahmad Usmani as the greatest Muslim after Aurangzeb , aspiring to unite Muslims worldwide under Islam. The Objectives Resolution of March 1949 marked
4200-426: The Vedic period (1500–500 BCE), bringing with them their distinctive religious traditions and practices which fused with local culture. The Indo-Aryans religious beliefs and practices from the Bactria–Margiana culture and the native Harappan Indus beliefs of the former Indus Valley civilization eventually gave rise to Vedic culture and tribes. Most notable among them was Gandhara civilization , which flourished at
4305-456: The most votes in the elections of 2008, appointing party member Yusuf Raza Gilani as Prime Minister. Threatened with impeachment , President Musharraf resigned on 18 August 2008, and was succeeded by Asif Ali Zardari . Clashes with the judicature prompted Gilani's disqualification from the Parliament and as the Prime Minister in June 2012. The general election held in 2013 saw the PML (N) achieve victory, following which Nawaz Sharif
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4410-400: The mujahideen against the USSR 's intervention in communist Afghanistan . Pakistan's North-West Frontier Province became a base for the anti-Soviet Afghan fighters, with the province's influential Deobandi ulama playing a significant role in encouraging and organising the 'jihad'. President Zia died in a plane crash in 1988, and Benazir Bhutto , daughter of Zulfikar Ali Bhutto,
4515-508: The secretary-general of the party , the nation's first Prime Minister . From 1947 to 1956, Pakistan was a monarchy within the Commonwealth of Nations, and had two monarchs before it became a republic. The creation of Pakistan was never fully accepted by many British leaders including Lord Mountbatten . Mountbatten expressed his lack of support and faith in the Muslim League's idea of Pakistan. Jinnah refused Mountbatten's offer to serve as Governor-General of Pakistan. When Mountbatten
4620-414: The two-nation theory and led to the establishment of the All-India Muslim League in 1906. In March 1929, in response to the Nehru Report , Muhammad Ali Jinnah , the founder of Pakistan, issued his fourteen points , which included proposals to safeguard the interests of the Muslim minority in a united India. These proposals were rejected. In his December 29, 1930 address, Allama Iqbal advocated
4725-427: The western parts of the Kashmir Region , organized into separate political entities, Azad Kashmir and Gilgit-Baltistan. In 2009, the constitutional assignment ( the Gilgit–Baltistan Empowerment and Self-Governance Order ) granted Gilgit-Baltistan semi-provincial status , providing it with self-government. Financial centre A financial centre ( financial center in American English ) or financial hub
4830-430: The 11th century in the Kingdom of England at the annual fair of St. Giles and in the Kingdom of Germany at the Frankfurt autumn fair, then developed in medieval France during the Champaign Fairs. The first real international financial centre was the city state of Venice which slowly emerged from the 9th century to its peak in the 14th century. Tradable bonds as a commonly used type of security, were invented by
4935-485: The 1970 general elections, the Parliament crafted the 1973 Constitution . It declared Pakistan an Islamic Republic, with Islam as the state religion, and mandated laws to comply with Islamic teachings laid down in the Quran and Sunnah and that no law repugnant to such injunctions could be enacted. Additionally, it established institutions like the Shariat Court and the Council of Islamic Ideology to interpret and apply Islam. Zulfikar Ali Bhutto faced opposition under
5040-595: The 19th century. After 1870, Berlin and New York grew to become major financial centres mainly serving their national economies. An array of smaller international financial centres found market niches , such as Amsterdam, Brussels , Zurich , and Geneva . London was the leading international financial centre in the four decades before World War I . Since then, New York and London have developed leading positions in different activities and some non-Western financial centres have grown in prominence, notably Tokyo , Hong Kong , Singapore and Shanghai . London has been
5145-445: The 2024 edition of the Global Financial Centres Index , New York City , London and Hong Kong ranked top 3 globally, while other well known financial centres include Singapore , Shanghai , Frankfurt and Tokyo , amongst others. In April 2000, the Financial Stability Forum ("FSF"), concerned about OFCs on global financial stability produced a report listing 42 OFCs. In June 2000, the International Monetary Fund (IMF) published
5250-425: The 20th century London played an important role in the development of new financial products such as the Eurodollar and Eurobonds in the 1960s, international asset management and international equities trading in the 1980s, and derivatives in the 1990s. London continues to maintain a leading position as a financial centre in the 21st century, and maintains the largest trade surplus in financial services around
5355-477: The 21st century. Others have discussed the ongoing dominance of New York and London, and the role linkages between these two financial centres played in the financial crisis of 2007–08 . Comparisons of financial centres focus on their history, role and significance in serving national, regional and international financial activity. Each centre's offering includes differing legal, tax and regulatory environments. One journalist suggested three factors for success as
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#17328513667745460-426: The Arabian Sea and the Gulf of Oman, and shares land borders totaling 6,774 km (4,209 mi), including 2,430 km (1,510 mi) with Afghanistan, 523 km (325 mi) with China, 2,912 km (1,809 mi) with India, and 909 km (565 mi) with Iran. It has a maritime border with Oman, and shares a border with Tajikistan via the Wakhan Corridor . Situated at the crossroads of South Asia,
5565-474: The British Virgin Islands, and Bermuda, represent all the major OFCs. Some also appear as RFCs in various lists, particularly Hong Kong, and Singapore. They also appear on most lists of major tax havens , and on lists of the largest Conduit and Sink OFCs in the world. In some lists, RFCs such as Paris, Frankfurt, Chicago, and Shanghai appear as IFCs, however, they do not appear in all lists. They are certainly major RFCs. Primitive financial centres started in
5670-441: The British announced their intention to end rule by June 1948. Following rigorous discussions involving Viceroy of India , Lord Mountbatten of Burma , Muhammad Ali Jinnah of the All-India Muslim League , and Jawaharlal Nehru of Congress, the formal declaration to partition British India into two independent dominions—namely Pakistan and India—was issued by Mountbatten on the evening of 3 June 1947. In Mountbatten's oval office,
5775-427: The British in the region was the rebellion known as the Sepoy Mutiny in 1857. Divergence in the relationship between Hinduism and Islam resulted in significant tension in British India , leading to religious violence. The language controversy further exacerbated tensions between Hindus and Muslims. A Muslim intellectual movement , led by Sir Syed Ahmed Khan to counter the Hindu renaissance , advocated for
5880-414: The Conduit OFC's extensive networks of global bilateral tax treaties . Because Sink OFCs are more closely associated with traditional tax havens, they tend to have more limited treaty networks and access to global higher–tax locations. Prior to the 1960s, there was little data available to rank financial centres. In recent years many rankings have been developed and published. Two of the most relevant are
5985-431: The Great conquered the region by defeating various local rulers, most notably, the King Porus , at Jhelum . It was followed by the Maurya Empire , founded by Chandragupta Maurya and extended by Ashoka the Great , until 185 BCE. The Indo-Greek Kingdom founded by Demetrius of Bactria (180–165 BCE) included Gandhara and Punjab and reached its greatest extent under Menander (165–150 BCE), prospering
6090-400: The IMF called dubious purposes , citing tax evasion and money–laundering. In 2007, the IMF produced the following definition of an OFC: a country or jurisdiction that provides financial services to nonresidents on a scale that is incommensurate with the size and the financing of its domestic economy . The FSF annual reports on global shadow banking use the IMF definition to track the OFCs with
6195-401: The Indian National Congress, initially skeptical of the League's representation of Indian Muslims, to acknowledge its significance. Jinnah's emergence as the voice of the Indian Muslims, compelled the British to consider their stance, despite their reluctance to partition India . In a final attempt to prevent partition, they proposed the Cabinet Mission Plan . As the Cabinet Mission failed,
6300-558: The Middle East, and Central Asia, Pakistan's location is geopolitically significant. Geologically, Pakistan straddles the Indus–Tsangpo Suture Zone and the Indian tectonic plate in Sindh and Punjab, while Balochistan and most of Khyber Pakhtunkhwa sit on the Eurasian Plate , primarily on the Iranian plateau . Gilgit-Baltistan and Azad Kashmir, along the Indian plate's edge, are susceptible to powerful earthquakes . Pakistan's landscapes vary from coastal plains to glaciated mountains, offering deserts, forests, hills, and plateaus. Pakistan
6405-441: The Mughal period were Multan , Lahore , Peshawar and Thatta , which were chosen as the site of impressive Mughal buildings . In the early 16th century, the region remained under the Mughal Empire . In the 18th century, the slow disintegration of the Mughal Empire was hastened by the emergence of the rival powers of the Maratha Confederacy and later the Sikh Empire , as well as invasions by Nader Shah from Iran in 1739 and
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#17328513667746510-451: The Muslim areas of Bengal and "Osmanistan" for Hyderabad State , as well as a political federation between the three. Some of the earliest ancient human civilisations in South Asia originated from areas encompassing present-day Pakistan. The earliest known inhabitants in the region were Soanian during the Lower Paleolithic , of whom artefacts have been found in the Soan Valley of Punjab . The Indus region , which covers most of
6615-452: The Pakistan Resolution. By 1942, Britain faced considerable strain during World War II , with India directly threatened by Japanese forces. Britain had pledged voluntary independence for India in exchange for support during the war. However, this pledge included a clause stating that no part of British India would be compelled to join the resulting dominion, which could be interpreted as support for an independent Muslim nation. Congress under
6720-426: The State." — Muhammad Ali Jinnah 's first speech to the Constituent Assembly of Pakistan. Maulana Shabbir Ahmad Usmani , a respected Deobandi alim (scholar) who held the position of Shaykh al-Islam in Pakistan in 1949, and Maulana Mawdudi of Jamaat-i-Islami played key roles in advocating for an Islamic constitution. Mawdudi insisted that the Constituent Assembly declare the "supreme sovereignty of God" and
6825-411: The US-led war on terrorism . By its own financial calculations, Pakistan's involvement in the war on terrorism has cost up to $ 118 billion, over eighty one thousand casualties , and more than 1.8 million displaced civilians. The National Assembly historically completed its first full five-year term on 15 November 2007. After the assassination of Benazir Bhutto in 2007, the PPP secured
6930-413: The United Kingdom agreed to the partitioning of India , the modern state of Pakistan was established on 14 August 1947 (27th of Ramadan in 1366 of the Islamic Calendar , considered to be the most blessed date from an Islamic perspective) . This new nation amalgamated the Muslim-majority eastern and northwestern regions of British India , comprising the provinces of Balochistan , East Bengal ,
7035-404: The academic lists of tax havens include all the FSF–IMF OFCs). In July 2017, a study by the University of Amsterdam 's CORPNET group, broke down the definition of an OFC into two subgroups, Conduit and Sink OFCs : Sink OFCs rely on Conduit OFCs to re–route funds from high–tax locations using base erosion and profit shifting ("BEPS") tax planning tools, which are encoded, and accepted, in
7140-468: The amalgamation of Muslim-majority states in North-West India, including Punjab , North-West Frontier Province , Sind , and Baluchistan . The perception that Congress-led British provincial governments neglected the Muslim League from 1937 to 1939 motivated Jinnah and other Muslim League leaders to embrace the two-nation theory. This led to the adoption of the Lahore Resolution of 1940, presented by Sher-e-Bangla A.K. Fazlul Haque , also known as
7245-509: The banner of Nizam-e-Mustafa ("Rule of the Prophet "), advocating an Islamic state. Bhutto conceded to some Islamist demands before being ousted in a coup. General Zia-ul-Haq, after seizing power, committed to establishing an Islamic state and enforcing sharia law. He instituted Shariat judicial courts, and court benches, to adjudicate using Islamic doctrine. Zia aligned with Deobandi institutions, exacerbating sectarian tensions with anti-Shia policies. Most Pakistanis, according to
7350-476: The country worked towards promulgating its constitution and putting the country on the road to democracy. In 1972 Pakistan embarked on an ambitious plan to develop its nuclear deterrence capability with the goal of preventing any foreign invasion ; the country's first nuclear power plant was inaugurated in that same year. India's first nuclear test in 1974 gave Pakistan additional justification to accelerate its nuclear program . Democracy ended with
7455-523: The country's governance. The military's influence in mainstream politics has been significant throughout Pakistan's history. The eras of 1958–1971, 1977–1988 , and 1999–2008 witnessed military coups , leading to martial law and military leaders governing de facto as presidents. Presently, Pakistan operates a multi-party parliamentary system , with distinct checks and balances among government branches. The first successful democratic transition occurred in May 2013. Pakistani politics revolves around
7560-637: The crossroads of India, Central Asia, and the Middle East, connecting trade routes and absorbing cultural influences from diverse civilizations. The initial early Vedic culture was a tribal, pastoral society centered in the Indus Valley, of what is today Pakistan. During this period, the Vedas , the oldest scriptures of Hinduism , were composed. The western regions of Pakistan became part of Achaemenid Empire around 517 BCE. In 326 BCE, Alexander
7665-588: The east ; Afghanistan to the west ; Iran to the southwest ; and China to the northeast . It shares a maritime border with Oman in the Gulf of Oman, and is separated from Tajikistan in the northwest by Afghanistan's narrow Wakhan Corridor . Pakistan is the site of several ancient cultures , including the 8,500-year-old Neolithic site of Mehrgarh in Balochistan , the Indus Valley Civilisation of
7770-416: The focus of new worldwide growth. One source described New York as extending its lead as the world's centre of finance in September 2018; according to Reuters , the think-tank New Financial concluded the "raw" value of domestic and international financial activity like managing assets and issuing equity underscored the position of New York as the world's leading financial centre. New York City remains
7875-518: The initial step towards this goal, affirming God as the sole sovereign. Muslim League leader Chaudhry Khaliquzzaman asserted that Pakistan could only truly become an Islamic state after bringing all believers of Islam into a single political unit. Keith Callard observed that Pakistanis believed in the essential unity of purpose and outlook in the Muslim world, expecting similar views on religion and nationality from Muslims worldwide. Pakistan's desire for
7980-512: The irrigated lands and the industrial effluents are collected by the LBOD canal network from the lower reaches of the Old Nara River or Puran River to discharge by gravity flow to the sea. Also bore wells are used to pump saline water into the LBOD or the Old Nara River streams to depress the saline ground water level at safe depth or prevent waterlogging . As most of the cultivated lands are located on
8085-592: The largest centre for trading in public equity and debt capital markets , driven in part by the size and financial development of the U.S. economy . The NYSE and NASDAQ are the two largest stock exchanges in the world. New York also leads in hedge fund management; private equity ; and the monetary volume of mergers and acquisitions . Several investment banks and investment managers headquartered in New York City are important participants in other financial centres. The New York Federal Reserve Bank ,
8190-419: The largest financial centres relative to their domestic economies. Progress from 2000 onwards from IMF – OECD – FATF initiatives on common standards, regulatory compliance , and banking transparency, has reduced the regulatory attraction of OFCs over IFCs and RFCs. Since 2010, academics considered the services of OFCs to be synonymous with tax havens , and use the term OFC and tax haven interchangeably (e.g.
8295-481: The largest within the Federal Reserve System , regulates financial institutions and implements U.S. monetary policy , which in turn influences the world's economy. The three major global credit rating agencies – Standard and Poor's , Moody's Ratings , and Fitch Ratings – are headquartered or co–headquartered in New York City, with Fitch being co–headquartered in London. In Asia , Tokyo emerged as
8400-505: The leadership of Mahatma Gandhi launched the Quit India Movement , demanding an immediate end to British rule. In contrast, the Muslim League chose to support the UK's war efforts , thereby nurturing the possibility of establishing a Muslim nation. The 1946 elections saw the Muslim League secure 90 percent of the Muslim seats, supported by the landowners of Sindh and Punjab. This forced
8505-534: The left side of the Indus River, LBOD would be the predominant means of discharging the river salt load to the sea once the Indus River waters are fully put to use without letting the Indus River water overflow to the sea from the Kotri barrage which is the last barrage across the river. Effective usage of LBOD is crucial to preserve/enhance the soil fertility in lower reaches of Indus basin area or Sind province or Indus River Delta for discharging adequate salt load to
8610-537: The limits prescribed by Him is a sacred trust". It was later included as a preamble to the constitutions of 1956, 1962, and 1973. Democracy faced setbacks due to the martial law imposed by President Iskander Mirza , who was succeeded by General Ayub Khan . After adopting a presidential system in 1962, Pakistan witnessed significant growth until the second war with India in 1965, resulting in an economic downturn and widespread public discontent in 1967. In 1969, President Yahya Khan consolidated control, but faced
8715-790: The northern mountains to deciduous trees like shisham in the Sulaiman Mountains , and palms such as coconut and date in the southern regions. The western hills boast juniper , tamarisk , coarse grasses, and scrub plants. Mangrove forests dominate the coastal wetlands in the south. Coniferous forests span altitudes from 1,000 to 4,000 metres (3,300 to 13,100 feet) in most northern and northwestern highlands. In Balochistan's xeric regions, date palms and Ephedra are prevalent. In Punjab and Sindh's Indus plains, tropical and subtropical dry and moist broadleaf forests as well as tropical and xeric shrublands thrive. Approximately 4.8% or 36,845.6 square kilometres (3,684,560 ha) of Pakistan
8820-602: The present-day Pakistan, was the site of several successive ancient cultures including the Neolithic (7000–4300 BCE ) site of Mehrgarh , and the 5,000-year history of urban life in South Asia to the various sites of the Indus Valley Civilisation , including Mohenjo-daro and Harappa . Following the decline of the Indus valley civilization, Indo-Aryan tribes moved into the Punjab from Central Asia in several waves of migration in
8925-430: The prime ministers of around a dozen major princely states gathered to receive their copies of the plan before its worldwide broadcast. At 7:00 P.M., All India Radio transmitted the public announcement, starting with the viceroy's address, followed by individual speeches from Nehru, and Jinnah. The founder of Pakistan Muhammad Ali Jinnah concluded his address with the slogan Pakistan Zindabad (Long Live Pakistan). As
9030-574: The purposefully built Chotiari Reservoir in Sindh in Pakistan . 24°41′N 69°12′E / 24.683°N 69.200°E / 24.683; 69.200 This Pakistan location article is a stub . You can help Misplaced Pages by expanding it . Pakistan Pakistan , officially the Islamic Republic of Pakistan , is a country in South Asia . It is the fifth-most populous country , with
9135-654: The region, including the Ghaznavid Empire (975–1187 CE), the Ghorid Kingdom, and the Delhi Sultanate (1206–1526 CE). The Lodi dynasty , the last of the Delhi Sultanate, was replaced by the Mughal Empire (1526–1857 CE). The Mughals introduced Persian literature and high culture, establishing the roots of Indo-Persian culture in the region. In the region of modern-day Pakistan, key cities during
9240-543: The rise of "partner OFCs" (offshore tax-havens to which funds are routed), such as Taiwan (a major Sink OFC for Asia, and 7th largest global Sink OFC), Mauritius (a major Sink OFC for South Asia, especially India, and Africa, and the 9th largest global Sink OFC). The private nationwide financial system in China was first developed by the Shanxi merchants , with the creation of so-called "draft banks". The first draft bank Rishengchang
9345-583: The sea. It starts from Ghotki district , which is located on the Sindh-Punjab border, and flows through the districts on the left bank of River Indus before ending in the Sir Creek of Arabian Sea on Badin's coast. Its designed capacity is 4,500 cusecs The canal's effluent disseminates into Dhoro Puran Outfall Drain (DPOD) with capacity of 2000 cusec and Kadhan Pateji Outfall Drain (KPOD) having capacity of 2500 cusec. The DPOD empties into Shakoor Lake located both in Pakistan and India whereas effluent of KPDO
9450-787: The second largest concentration of hedge funds (847 according to HedgeLists.com). London benefits from its position between the Asia and U.S. time zones, and benefited from its location within the European Union , although this ended on 31 January 2020 when the United Kingdom left the European Union following the Brexit referendum of 2016. As well as the London Stock Exchange , the Bank of England ,
9555-663: The second oldest central bank, is in London, although the European Banking Authority moved to Paris after Brexit. Since the middle of the 20th century, New York City, represented by Wall Street in Manhattan's Financial District , has been described as a leading financial centre. Over the past few decades, with the rise of a multipolar world with new regional powers and global capitalism , numerous financial centres have challenged Wall Street, particularly London and several in Asia, which some analysts believe will be
9660-619: The supremacy of the shariah in Pakistan. The efforts of Jamaat-i-Islami and the ulama led to the passage of the Objectives Resolution in March 1949. This resolution, described by Liaquat Ali Khan as the second most significant step in Pakistan's history, affirmed that "sovereignty over the entire universe belongs to God Almighty alone and the authority which He has delegated to the State of Pakistan through its people for being exercised within
9765-417: The surrounding territories. The Arab conqueror Muhammad ibn Qasim conquered Sindh and some regions of Punjab in 711 CE. The Pakistan government's official chronology claims this as the time when the foundation of Pakistan was laid. The Early Medieval period (642–1219 CE) witnessed the spread of Islam in the region. Before the arrival of Islam beginning in the 8th century, the region of Pakistan
9870-660: The west and the Thar Desert in the east. The 1,609 km (1,000 mi) Indus River and its tributaries traverse the nation from Kashmir to the Arabian Sea, sustaining alluvial plains along the Punjab and Sindh regions. The climate varies from tropical to temperate, with arid conditions in the coastal south. There is a monsoon season with frequent flooding due to heavy rainfall, and a dry season with significantly less rainfall or none at all. Pakistan experiences four distinct seasons:
9975-475: The world. However, like New York, it faces new competitors including fast-rising eastern financial centres such as Hong Kong and Shanghai. London is the largest centre for derivatives markets , foreign exchange markets , money markets , issuance of international debt securities , international insurance , trading in gold, silver and base metals through the London bullion market and London Metal Exchange , and international bank lending . London has
10080-643: Was accompanied by an unparalleled mass migration and loss of life. Initially a Dominion of the British Commonwealth , Pakistan officially drafted its constitution in 1956, and emerged as a declared Islamic republic . In 1971, the exclave of East Pakistan seceded as the new country of Bangladesh after a nine-month-long civil war . In the following four decades, Pakistan has been ruled by governments whose descriptions, although complex, commonly alternated between civilian and military, democratic and authoritarian, relatively secular and Islamist. Pakistan
10185-402: Was asked by Collins and Lapierre if he would have sabotaged Pakistan had he known that Jinnah was dying of tuberculosis, he replied 'most probably'. "You are free; you are free to go to your temples, you are free to go to your mosques or to any other place of worship in this State of Pakistan. You may belong to any religion or caste or creed – that has nothing to do with the business of
10290-576: Was created in 1823 in Pingyao . Some large draft banks had branches in Russia, Mongolia and Japan to facilitate the international trade. Throughout the nineteenth century, the central Shanxi region became the de facto financial centres of Qing China. With the fall of Qing Dynasty, the financial centres gradually shifted to Shanghai , mainly due to its geographical location at the estuary of the Yangtze River and to
10395-400: Was elected as Prime Minister for the third time. In 2018, PTI won the general election and Imran Khan became the 22nd Prime Minister. In April 2022, Shehbaz Sharif was elected as prime minister, after Imran Khan lost a no-confidence vote. During 2024 general election , PTI-backed independents became the largest bloc, but Shehbaz Sharif was elected prime minister for a second term, as
10500-446: Was elected as the country's first female Prime Minister. The PPP was followed by conservative Pakistan Muslim League (N) (PML (N)), and over the next decade the leaders of the two parties fought for power, alternating in office. This period is marked by prolonged stagflation , political instability, corruption , misgovernment, geopolitical rivalry with India, and the clash of left wing - right wing ideologies. As PML (N) secured
10605-461: Was forested in 2021. Pakistan's fauna mirrors its diverse climate. The country boasts around 668 bird species, including crows , sparrows , mynas , hawks , falcons , and eagles . Palas, Kohistan , is home to the western tragopan , with many migratory birds visiting from Europe, Central Asia, and India. The southern plains harbor mongooses , small Indian civet , hares, the Asiatic jackal ,
10710-573: Was home to a diverse plethora of faiths, including Hinduism , Buddhism , Jainism and Zoroastrianism . During this period, Sufi missionaries played a pivotal role in converting a majority of the regional population to Islam. Upon the defeat of the Turk and Hindu Shahi dynasties which governed the Kabul Valley , Gandhara (present-day Khyber Pakhtunkhwa), and western Punjab in the 7th to 11th centuries CE, several successive Muslim empires ruled over
10815-587: Was meant to prevent. LBOD is located in the catchment area of the Old Nara River which is a left bank delta channel of Indus River . Old Nara River streams are used to collect the saline water generated from irrigated lands and the industrial effluents. In the middle reach (i.e. Nara canal) of this river, saline and polluted water flowing into the river are diluted by feeding main Indus River water from Sukkur barrage and supplied by gravity canals for irrigation and industrial needs. The saline water generated from
10920-402: Was no genocide. In response to India's support for the insurgency in East Pakistan, preemptive strikes on India by Pakistan's air force , navy , and marines sparked a conventional war in 1971 that resulted in an Indian victory and East Pakistan gaining independence as Bangladesh . With Pakistan surrendering in the war, Yahya Khan was replaced by Zulfikar Ali Bhutto as president;
11025-651: Was the largest mass migration in human history. A subsequent dispute over the princely state of Jammu and Kashmir eventually sparked the Indo-Pakistani War of 1947–1948 . After independence in 1947, Jinnah, the President of the Muslim League, became Pakistan's first Governor-General and the first President-Speaker of the Parliament , but he succumbed to tuberculosis on 11 September 1948. Meanwhile, Pakistan's founding fathers agreed to appoint Liaquat Ali Khan ,
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