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Legal 500 Doing Business in Pakistan

Contributed by MR LEGAL INN

Pakistan is a growth-focused market with high potential for economic progress. Until today, Pakistan maintains a geostrategic position on the world map with a rich trajectory of natural resources backed up by talented human capital of over 190 million people. Pakistan continues to drive attention of many foreign investors to reap from its potential.

The present regime has witnessed some terrific indicators of growth including the recent highlights of China Pakistan Economic Corridor (CPEC) with $46bn investments laying emphasis on energy, transport and infrastructure projects. This has overwhelmingly helped shaping the course for a rapid progress in all sectors of its economy.

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Pakistan continued to benefit from strengthened economic ties to China in 2016. The China-Pakistan Economic Corridor, which has gained considerable traction as the planned energy and infrastructure projects have matured, is being viewed as a springboard for further investment from US and European countries looking to establish companies in Pakistan, while it is hoped that the power projects will assist in reducing the country’s energy deficit.

The controversial 2015 Prevention of Electronic Crimes Act bill, which was passed by Pakistan’s National Assembly in April 2016 and is due to be approved by the senate, has been widely criticised for its draconian stance on human rights and free speech. A landmark bill on women’s rights is also set to be passed in the next year.

HaidermotaBNR, Mohsin Tayebaly & Co, Orr, Dignam & Co. and RIAA Barker Gillette are among Pakistan’s most established law firms. In 2015, Liaquat Merchant and Ebrahim Hosain merged to form LMA|Ebrahim Hosain. Karachi and Lahore are the main hubs for law firms, while a number also field offices in Islamabad and Peshawar.

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