PAKISTAN ECONOMIC POLICY

PAKISTAN ECONOMIC POLICY

INFORMAL SECTOR OF PAKISTAN

Submitted to: DR. ZIA BAAS RIZVI

By:
Saba Naz - 20191-26245
Hira Khan - 2018-24806
Syed Hassan Ahmed Naqvi - 20121-14135

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Contents
1. LETTER OF ACKNOWLEDGEMENT .................................................................................... 3
2. INTRODUCTION......................................................................................................................... 4
3. DIFFERENCE BETWEEN FORMAL AND INFORMAL ...................................................... 5
INFORMAL SECTOR ..................................................................................................................... 5
FORMAL SECTOR ................................................................................................................................ 6
4. ADVANTAGES AND DISADVANTAGES ............................................................................... 7
Advantages: ........................................................................................................................................ 7
Disadvantages: ................................................................................................................................... 7
5. TYPES OF INFORMAL SECTOR............................................................................................. 8
6. SIZE OF INFORMAL SECTOR ................................................................................................ 9
7. CONTRIBUTION TO PAKISTAN ECONOMY .................................................................... 10
8. COMPARISION TO INDIA AND CHINA .............................................................................. 11
CHINA:............................................................................................................................................... 11
INDIA:................................................................................................................................................ 12
PAKISTAN:......................................................................................................................................... 13
9. LEGALIZATION ....................................................................................................................... 14
IMPORTANCE ............................................................................................................................... 14
PROBLEM ...................................................................................................................................... 14
STEPS TO LEGALIZE .................................................................................................................. 15
1. ROLE OF GOVERNMENT ....................................................................................................... 15
2. PUBLIC APPEAL ..................................................................................................................... 15
3. OFFER INCENTIVES ............................................................................................................... 15
4. LEGAL ACTION ...................................................................................................................... 16
5. SIMPLIFY RULES .................................................................................................................... 16
6. LEGALIZATION THROUGH E-COMMERCE ............................................................................ 16
7. ASSURANCE FO SECURITY .................................................................................................... 16
10. CONCLUSION ....................................................................................................................... 16
REFERENCES ..................................................................................................................................... 17

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1. LETTER OF ACKNOWLEDGEMENT

We are thankful to Almighty Allah who gave us the knowledge, courage and strength
to accomplish in preparing the assigned term report. We are grateful to our instructor
and mentor Dr. Zia Abbas Rizvi for supporting us and guiding us in completing this
report. It has been a great knowledgeable and learning experience which will benefit us
in our academic and professional life.

During the preparation of this report, we acknowledged that theoretical studies are
unproductive if not applied in practical experience. Summing up, we are thankful to
Dr. Zia Abbas Rizvi for all his positive support and encouragement.

Regards

Syed Hassan Ahmed Naqvi 14135

Hira Khan
Saba Naz

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2. INTRODUCTION
Pakistan currently is facing an economic crisis in the country. The inflation is all time high,
the country’s currency has depreciated and the country has to pay back huge loans along
with the interest on it. This is due to the short term policies and approaches adopted by
the previous government on order to manage the country’s economy. Since the recent
election of the recent government the country has seen a major downfall in its economy
and there are several reasons behind it and one of those reason is the highest percentage
of the informal sector existing in Pakistan.
Informal sector means that it is not formal or certified and approved by the government
sector. It is a part of the economy which is not documented, not taxed and neither
controlled by the government bodies. Informal economies are considered a barrier to
inclusive growth and exclude a majority of people from accessing opportunities of
productive growth in the economic realm, depriving them of entitlement at work because
of their informal status.
According to IMF, the informal sector in developing countries is dominant due to its huge
size. The growing influence of the informal economy, especially in developing countries is
a big challenge for political and economic managers. However, compelling domestic
realities and enabling international discourse are encouraging countries to take up the
challenge of either eliminating the informal sector or reducing its size to the minimum.
In comparison, workers engaged in formal, registered, tax-compliant businesses and units
are legally covered for social protection. The undocumented economy or the informal
economy also hinders proper economic planning for socio-economic development.
The informal economy in Pakistan is large where workers have limited access to labor
welfare services. The key sector of employment in the informal economy are wholesale &
retail trade manufacturing, community/social and personal services, construction and
transport.
The incidence of child labor is also prevalent in the informal economy. Pakistan’s only child
labor survey of 1996 indicated that 3.3 million under the age of 14 years were working in
Pakistan. The government is committing to eliminating the employment of children less
than 14 years of age, and the employment of those between the ages of 14 and less than
18 years will be strictly controlled, through a combination of stronger legislation and the
introduction of labor extension services.

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3. DIFFERENCE BETWEEN FORMAL AND

INFORMAL
INFORMAL SECTOR

The word informal economy is described through various ways in the existing literature,
such as black, shadow, hidden, irregular, unofficial, unobserved, underground and grey
economy (Gylys 2005). First of all, there is no difference between the informal economy
and the underground economy, because several countries called informal or underground
economy or some other names. However, the approach and objective of both (informal
and underground) are the same. The informal economy is renowned with diverse
appellations around the world. For instance, the Japanese recognize it as ‘Hidden
Incomes’, the French identify it as ‘Travail au noir’, Italy considers it as ‘The Lavorno Nero’,
the English call it ‘Fiddle’, the Swedish Russian term it as ‘Hidden Economy’, while in
Pakistan it has been analyzed as an ‘Hidden Economy’ or ‘Informal Economy’. Such kind
of economic activities, which are not reported in National Income Accounts, come under
the definition of the informal economy. It is also called the subordinate zone of the overall
economy, which can play a positive role for the growth of the overall formal sector of any
economy (Gulzar, Junaid, and Haider 2010).

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An informal economy (informal sector or grey economy) is the part of any economy that
is neither taxed nor monitored by any form of government. The informal economy has
observed speedy growth in the last three decades as compared to the formal economy
and the informal economy has 35 percent share in the Country’s GDP which is highest in
the developing countries. The informal economy is accounted for more than 70 percent
of the employment in main jobs outside agriculture sector. The several reasons behind
increasing informal economy include lack of employment opportunities in formal sector,
increased cash transactions, widening tax gap and poor performance of the public sector
institution. Afghan trade transit has also a major portion in informal economy.
FORMAL SECTOR
Sector which encompasses all jobs with normal hours and regular wages, and are
recognized as income sources on which income taxes must be paid. Opposite of informal
sector. The formal sector does offer, in general, higher wages but the hours of work per
week are much more rigidly fixed.
In Pakistan agriculture is not included in the definition of informal sector activities.
Excluding agriculture, the bulk of Pakistan’s workforce is unorganized, and the labor
market is dominated by the informal sector. More people are employed in the informal
rather than the formal sector. Thus, the informal sector accounts for 73%2 of employment
in jobs outside agriculture in rural and urban areas. The informal sector workers include
self-employed workers as well as wage workers doing diversified work from petty traders
to small producers and from rickshaw drivers to shoe shiners. Their contribution to GNP,
estimated at 36.8%,3 is quite significant.

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4. ADVANTAGES AND DISADVANTAGES

Advantages:
• The advantages of the informal economy is that it provides income and
employment to all people regardless of education, experience etc.
• Most people who are employed also find themselves engaged in the informal
economy to support their living expenses.
• The informal economy is a type of economy where trading and employment is free
from any formalities like no government interference, no taxes, or subsidies to be paid to
the government.
• This type of economy is suitable for small trading operations where no huge
amount of money is involved, and the money goes directly in the pockets of the owners.
• The employer and employee will often share a very close personal relationship.
This makes it possible for the employee to easily have his needs met such as taking a day
off work.
• Speaking of Pakistan, which is a developing country, informal sector helps
generating employment, even for the people with no prior experience, education, or
training.
• Moreover, the ratio of female workers in the informal sector is way higher (80%)
than the females employed in the larger formal enterprises.
• Looking at the growth and importance of the informal sector of Pakistan’s
economy, several policy recommendations are made lately regarding the education and
training of the workers, access of credit facilities, tax exemption for encouraging self-
employment and facilities for marketing, management and technological developments.
• Its concluded that formal and informal sector should coexist to support each other
for overall economic growth.
Disadvantages:
• The jobs are low-paid, and the job security is very less. So, in the event of poor
turnover by the company, the employee’s job can be at stake.
• The employee is deprived of the corporate benefits like insurance or other benefits
associated with labor laws.
• There may be no fixed hours and so the employee may be required to come for
work at odd times of the day.
• The government cannot measure the actual state of the economy to help make
policy and cannot collect the taxes that it should.

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• Consumers are not protected from people selling fake/unsafe goods.

• Workers don’t accumulate government pension benefits.
• Informal businesses have to stay small to avoid attracting attention. Big companies
are more efficient and safer.
• Those working in the informal economy, and especially women, face many
challenges, including low and fluctuating incomes, difficult working conditions, lack of
legal protection, numerous legal and physical risks, and often low social standing.
• The problems related to informal sector could be divided into two categories:
broader problems and narrower problems.
BROADER PROBLEMS:

 Underground economy
 Technological underdevelopment
 Irresponsible business practices
 Restrictions against small enterprise
NARROWER PROBLEMS:

 Street children
 Unregulated street vending
 Exploitation of child labor
 Lack of specialized technology
 Insufficient operating capital
 Under provision of basic urban services

5. TYPES OF INFORMAL SECTOR

These include casual day laborers, domestic workers, industrial outworkers, undeclared
workers, and part-time or temporary workers without secure contracts, worker benefits,
or social protection. Most studies on the informal sector conclude that its workforce
differs substantially from that of the formal sector.
The two types of informal sector activities can be described as follows:
 Coping strategies (survival activities): casual jobs, temporary jobs, unpaid jobs,
subsistence agriculture, multiple job holding.
 Unofficial earning strategies (illegality in business):
 (1) Unofficial business activities: tax evasion, avoidance of labor regulation and
other government or institutional regulations, no registration of the company; and
(2) Underground activities: crime, corruption - activities not registered by
statistical offices.

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6. SIZE OF INFORMAL SECTOR

Measuring the sector accurately is essential. The Federal Board of Revenue (FBR) has been
actively taking steps, especially in the recent past, to increase documentation of the
economy. Along with increasing the tax base in the country, this is basically to decrease
the informal sector of the economy, which according to some estimates is at least one-
third of the GDP (gross domestic product) of Pakistan. At the same time, as the formal
sector grows, it will also allow government to better safeguard the rights of the labor–
including better addressing the child labor issue– previously involved in the informal
sector.
While the digitization of economies has provided more opportunity to involve informal
employment, yet research indicates that ‘Poverty levels among people in informal
employment are, on average, twice as high as that of people in formal employment
because of low productivity, low incomes, and limited access to government benefits’.
The IMF MD also highlighted the large involvement of women in the informal sector,
where as per the ILO (International Labor Organization) ‘in developing economies, 92
percent of women workers are informally employed’, which is indeed a very high number,
and points to the fact that women, more than men, are suffering from lack of safeguard
of labor rights there. For example, in Pakistan, cottage industry appears to employ a lot
of women in the informal sector and are deprived of their rights. The research shows that
the informal economy in Pakistan has been about 35 percent of the total economy.
As per International Labor Organization, the informal economy is accounted for more than
70 percent of the employment in main jobs outside agriculture sector. The informal
economy has observed speedy growth in the last three decades as compared to the formal
economy and the informal economy has 35 percent share in the Country’s GDP which is
highest in the developing countries.
According to a survey, 62 percent of trade is associated with the informal sector in which
trade, manufacturing, service industry, transport and construction are included.
According to reports, 83 percent containers of ATT do not reach its destination, which is
indeed a major loss to the national exchequer. Corruption, smuggling and complex tax
system is also appreciating the informal economy.

According to WB, Pakistan ranked 136 out of 190 countries in the EoDB index while it
ranked 173 regarding ease of taxpaying. In 2006 Pakistan ranked 60 in the global index of
ease of doing business, however, doing business became more difficult in the last decade.
Prime Minister Imran Khan while taking the notice of difficulties in business instructed the
relevant departments to bring Pakistan on 100th rank in global index of doing business.

According to ILO 5 million child labor is part of informal economy in Pakistan who can be
part of formal economy if Government make proper mechanism for their education and

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training. Public sector organization associated with traders, industrialists, investors and
public should be make more transparent in order to curb corruption and people may
conveniently get their rights.

7. CONTRIBUTION TO PAKISTAN ECONOMY

Informal sector is known as where the workers are giving their output to a nation
but that is not recorded in the government level. This has been noticed in the government
jobs also where the employees are being hired as contract based. Informal sector where
the general public is not paying tax. For example; the rickshaw drivers, the shoe maker
and shiner, the solo proper-tier, somethings the small firms and etc.
The macroeconomic stability is a fundamental pre-requisite for sustained economic
growth. Pakistan’s economy has experienced frequent boom and bust cycles. Typically,
each cycle comprised of 3-4 years of relatively higher growth followed by a
macroeconomic crisis which necessitated the stabilization programs. The inability to
achieve sustained and rapid economic growth is due to structural issues which require
effective monetary and fiscal measures to achieve macroeconomic stability. Due to low
growth in revenues and the unplanned and unproductive expenditures, the fiscal deficit
widened. The persistence of large fiscal and current account deficits and associated
buildup of public and external debt became the major source of macroeconomic
imbalance. The outgoing fiscal year 2018-19 witnessed a muted growth of 3.29 percent
against the ambitious target of 6.2 percent. The target was based upon sectoral growth
projections for agriculture, industry, and services at 3.8 percent, 7.6 percent and 6.5
percent respectively. The actual sectoral growth turned out to be 0.85 percent for
agriculture, 1.4 percent for industry and 4.7 percent for services.
Pakistan’s population is projected to increase to over 227 million by 2025. The population
will also comprise a much larger proportion of younger people (63% below the age of 30).
These demographic projections raise a number of issues for the country the recent
National Nutrition Survey noted that approximately 60 per cent of the country’s
population is facing food insecurity and nearly 50 per cent of the women and children are
malnourished. These nutritional inadequacies hinder the development of the intellectual
faculties of school-going children and young adults consigned to such diets, and could thus
perpetuate intergenerational inequalities of opportunity and income. The growing
population in Pakistan poses a significant threat to food security, Pakistan’s development
and social indicators and stability.

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8. COMPARISION TO INDIA AND CHINA

CHINA:
Since the late 1970s, China has moved from a closed, centrally planned system to a more
market-oriented one that plays a major global role. China has implemented reforms in a
gradualist fashion, resulting in efficiency gains that have contributed to a more than
tenfold increase in GDP since 1978. Reforms began with the phase out of collectivized
agriculture, and expanded to include the gradual liberalization of prices, fiscal
decentralization, increased autonomy for state enterprises, growth of the private sector,
development of stock markets and a modern banking system, and opening to foreign
trade and investment. China continues to pursue an industrial policy, state support of key
sectors, and a restrictive investment regime. From 2013 to 2017, China had one of the
fastest growing economies in the world, averaging slightly more than 7% real growth per
year. Measured on a purchasing power parity (PPP) basis that adjusts for price differences,
China in 2017 stood as the largest economy in the world, surpassing the US in 2014 for
the first time in modern history. China became the world's largest exporter in 2010, and
the largest trading nation in 2013. Still, China's per capita income is below the world
average.
The informal economy of the People’s Republic of China refers to a range of informal
economic activity that stands outside of the recognized systems of regulations, taxation,
and licenses. Although the term is sometimes understood to describe marginal,
unregulated, and even criminal activity, there is considerable overlap between the
informal sector and formal economy, and the informal economy serves an important
societal function in contributing to employment and economic growth.
The informal economy in China represents a large portion of domestic output,
consumption and employment. Employment in the urban sector represents a major part
of the Chinese economy: approximately half of urban Chinese workers belong to the
informal economy as of 2004. —a significant increase since the 1990s. It is described as
fast-growing, dynamic, highly competitive, and it contributes substantially to economic
growth. However, there are serious concerns about the lack of protections afforded to
workers in the informal sector.
In addition, China is a major part of the global informal sector, producing unregulated
goods for consumption in Africa, Latin America, and elsewhere. According to Roberta
Neuvirth, China’s rise as a global center of manufacturing owes, in part, to its willingness
to trade in the informal economy (also known as “system D” trade). In some regions in
China, local governments have adopted policies designed to encourage the informal
economy to alleviate unemployment.

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INDIA:
India’s informal sector is the backbone of the economy. It employs the vast majority of
the work force, and the formal sector depends on its goods and services. The nation’s
quality of life hinges on things becoming better for masses of informally employed people.
In its Economic Survey of 2015/16, the Government of India spelled out a major issue in
rather simple terms: “The challenge of creating ‘good jobs’ in India could be seen as the
challenge of creating more formal sector jobs, which also guarantees worker protection.”
Indeed, India’s masses need decent work.
The bitter truth, however, is that India’s formal sector is doing a bad job of providing such
jobs. It employs only about 10 % of the nation’s workforce. Merely 48 million of India’s
472 million economically active people were working in the formal sector in the financial
year 2011/12. The vast majority was slaving away in the informal sector in harsh
conditions. These data are from the 68th National Sample Survey, which also showed that
the share of formal-sector jobs had increased in comparison with seven years earlier. In
absolute numbers, however, the growth of the informal-sector still exceeded the growth
of the formal one.

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PAKISTAN:
Decades of internal political disputes and low levels of foreign investment have led to
underdevelopment in Pakistan. Pakistan has a large English-speaking population, with
English-language skills less prevalent outside urban centers. Despite some progress in
recent years in both security and energy, a challenging security environment, electricity
shortages, and a burdensome investment climate have traditionally deterred investors.
Agriculture accounts for one-fifth of output and two-fifths of employment.
Textiles and apparel account for more than half of Pakistan's export earnings; Pakistan's
failure to diversify its exports has left the country vulnerable to shifts in world demand.
Pakistan’s GDP growth has gradually increased since 2012, and was 5.3% in 2017. Official
unemployment was 6% in 2017, but this fails to capture the true picture, because much
of the economy is informal and underemployment remains high. Human development
continues to lag behind most of the region.
In Pakistan the only sector where informal sector is not seen much is the agriculture
sector. I
In Pakistan there are so many sector where informal working is applied. Mostly in all the
sectors whether the government or private sector.
Decades of internal political disputes and low levels of foreign investment have led to
underdevelopment in Pakistan. Pakistan has a large English-speaking population, with
English-language skills less prevalent outside urban centers. Despite some progress in
recent years in both security and energy, a challenging security environment, electricity
shortages, and a burdensome investment climate have traditionally deterred investors.
Agriculture accounts for one-fifth of output and two-fifths of employment. Textiles and
apparel account for more than half of Pakistan's export earnings; Pakistan's failure to
diversify its exports has left the country vulnerable to shifts in world demand. Pakistan’s
GDP growth has gradually increased since 2012, and was 5.3% in 2017. Official
unemployment was 6% in 2017, but this fails to capture the true picture, because much
of the economy is informal and underemployment remains high. Human development
continues to lag behind most of the region.

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9. LEGALIZATION
IMPORTANCE

The time has come for Pakistan to address inequity and to tackle the informal economy,
which is considered a barrier to inclusive growth as it excludes the majority of people from
accessing opportunities of productive growth in the economic realm and deprives them
of entitlements at work because of their informal status. In comparison, workers engaged
in formal, registered, tax compliant businesses and units are legally covered for social
protection.
According to different surveys and reports, the informal economy in Pakistan accounts for
35-50 percent of the total economy. The informal sector in money terms is well in the
range of $85 billion. For a country like Pakistan, which is confronted with serious economic
challenges, it is absolutely essential to focus on documenting the economy. Countries in
our region such as India and Bangladesh are also vigorously pursuing policies aimed at
eliminating informal economies.

PROBLEM

The government cites its inability to bring thousands of small enterprises under the tax
net, while the enterprises point to financial constraints as the main reason for remaining
informal. However, both concede that formality is desirable for it benefits all stakeholders
in the long run. Yet the goal remains elusive.
Informality is a complex, multi-dimensional phenomenon and involves a number of
variables, both tangible and intangible. A weak labor administration, in terms of capacity
and staff strength, hinders the state in registering and keeping track of all economic units.
The units, on the other hand, are not recording their transactions and activities because
of a multitude of reasons: lack of education, complexity and cost of registration,
insufficient profit to pay taxes. Intangible factors include cultural resistance to record
keeping, distrust of the tax system and the perception that the state only benefits that
industrialist and land lords.
Informal units think that even if they were to contribute, benefits would not reach
workers because the institutions embezzle money. Another factor that sustains the
informal sector is lack of political will and a desire to maintain the status quo. The
infrastructural, institutional, and economic issues beset the informal sector; and lack of
focus on the informal sector is a major ‘disconnect’ in the economic policy formulation. In
terms of infrastructure, there is poor access to storage, transport, utilities, and physical
premises etc. In terms of institutional issues, there is lack of capacity building both in
terms of labor skills and management expertise, as well as, limited access to enterprise
and other property rights registration, and project finance. Therefore, there is much more

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reliance of the SMEs on ‘informal institutional arrangements’ as the cumbersome

government procedures indirectly pushes them towards informality. There is also limited
access to information and market processes such as the capacity to comply with the
international standards that could widen the SMEs’ sales market.
In terms of the economic issues, there are issues such as the high transaction cost of doing
business and getting registered, limited access to technological upgradation, lack of ability
to buy inputs in bulk due to restrictive working capital, lack of investment, and often the
unfavorable terms of finance offered by the institutions. All of these contribute to the
problems the informal sector faces and it often prevents it from transiting towards
formalization.
Informal sector is a major part of our country and it needs to be addressed and the people
need to revisit and rethink in order to legalize it.

STEPS TO LEGALIZE

Doing business in a legal way, paying taxes and holding movable and immovable
properties in a legitimate way is not only a legal responsibility of every citizen but also a
moral duty towards the state and fellow citizens. Despite constraints, if one were to dig
deep, it’s a doable task. Turning the thriving informal sector into a disciplined, productive
formal sector that is tax and labor oriented will need to take some serious long term
policies. The following are some steps that can be taken in order to turn the informal
economy into the formal economy:
1. ROLE OF GOVERNMENT
In order to bring the informal sector into formal sectors, the government needs to play a
key role. The current government has recently launched the amnesty scheme which had
two purposes: documenting the economy, and welcoming the business and trading
community to participate in the legal economy. The unverified business should
immediately be brought into the control of the business. The government agents should
work freely without any political influence. The government should monitor its agent as
well so that they don’t indulge in practices of nepotism or bribery.
2. PUBLIC APPEAL
During the dam fund, the Prime Minister urged the public to contribute in it and the public
played its role realizing the need for the dam. The government should pursue the policy
by appealing to the general public to contribute to the economy and creating awareness
that this will not only benefit the informal sector but also the whole country. The
government needs to appeal to its people to verify their businesses.
3. OFFER INCENTIVES
The government can offer incentives to people who are documenting and legalizing their
businesses this will increase the motivation of the public to legalize their businesses.

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4. LEGAL ACTION
The government needs to draw a sketch or a report by gathering intelligences that which
businesses are not legalized. The government than can impose on them heavy fines,
imprisonment or punishments in order to bring them in the tax net.
5. SIMPLIFY RULES
The government needs to simplify rules as registering the companies requires lots of
documents. The government needs to bring those rules down and less requirement of
documents must be necessary in order to formalizing business as fast as possible.
6. LEGALIZATION THROUGH E-COMMERCE
Registration of companies should be made easy. The best way to do it is to introduce e-
commerce in it and an online registration portal would result in an enormous flow of
businesses in the tax net.
7. ASSURANCE FO SECURITY
The government should ensure and provide security for the businesses who recently register
themselves. In this way people will respond to government more effectively.

10. CONCLUSION
The informal sector is a major source of employment after agriculture and it has not been
properly studied, focused, and prioritized in the governmental policy making. There is
need for a ‘strategy’ or ‘vision’ for the informal sector; given its huge role and linkages
with the formal private sector growth; and its ability of absorb low-skilled and low-
educated labor force, particularly the youth.
Employment generation in the formal sector can be enhanced through extended
opportunities of education and training. Simp-lification of rules and regulations for
registration, taxation and affiliation to social security can encourage informal sector units
for transition. Fiscal incentives may further attract the informal units to register. Capable,
trustworthy and transparent labor inspectorates will promote compliance.
There is a need to have faith in the good impulses of our people: informal sector units’
owners care about their workers’ well-being and welfare as much as they desire their
businesses to prosper. Informal economy owners care about their businesses and gain. By
providing the above said security and assurances, we can get a huge sector into the tax
net and the country can progress on the way to prosperity.
The country belongs to all of us and its future development and prosperity depends on
our sense of patriotism and realization of our obligations towards the state as its citizens.

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REFERENCES
1. http://www.finance.gov.pk/survey/chapters_19/Economic_Survey_2018_19.pdf
2. https://blogs.imf.org/2019/10/30/the-global-informal-economy-large-but-on-the-decline/
3. https://www.pakistantoday.com.pk/2019/11/17/understanding-the-informal-economy-of-
pakistan/
4. https://www.ilo.org/islamabad/areasofwork/informal-economy/lang--en/index.htm
5. https://www.dawn.com/news/1384308
6. https://fp.brecorder.com/2019/01/20190110438457/
7. https://dailytimes.com.pk/444778/the-informal-sector/
8. https://www.askedon.com/pakistans-informal-economy-a-way-forward/
9. http://www.aerc.edu.pk/wp-content/uploads/2017/06/The-real-size-of-underground-
economy.pdf
10. https://www.thenews.com.pk/print/489805-a-documented-economy
11. https://www.tandfonline.com/doi/full/10.1080/20430795.2020.171150
1
12. https://fp.brecorder.com/2019/01/20190110438457/
13. https://www.ilo.org/islamabad/areasofwork/informal-
economy/lang--en/index.htm

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