ORGANISATION MONDIALE
DU COMMERCES/DCS/W/PAK
24 janvier 2003
(03-0500)
Commerce des services Original:  anglais
PAKISTAN
Projet de version codifiée de la Liste d'engagements spécifiques1
On trouvera ci-joint un projet de version codi fiée de la Liste d'engagements spécifiques du
Pakistan en format Word.  Ce document ne remplace pas les engagements juridiquement
contraignants souscrits par le Pakistan dans sa Liste d'engagements spécifiques (GATS/SC/67;GATS/SC/67/Suppl.2/ Rev.1; GATS/SC/67/Suppl.3).
Est joint au projet de liste codifiée un projet de version codifiée de la Liste d'exemptions de
l'article II (NPF) du Pakistan (GATS/EL /67; GATS/EL/67/Suppl.1 et GATS/EL/67/Suppl.2).
Les projets de versions codifiées de la Liste et de la Liste d'exemptions de l'obligation NPF
ont été établis par le Secrétariat, à la demande des Membres, pour faciliter le processus denégociation, y compris la présentation des offres initiales.
__________
                                                          
1 Le présent document a été établi, en anglais seulem ent, par le Secrétariat sous sa propre responsabilité
et sans préjudice des positions des Membres ni de leurs droits et obligations dans le cadre de l'OMC.S/DCS/W/PAK
Page 2 Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
I. HORIZONTAL COMMITMENTS
ALL SECTORS
INCLUDEDIN THIS SCHEDULE
3) (i) Except in the case of representative
offices where specifically provided for in this
Schedule, commitments under 'commercial
presence' are subject to incorporation inPakistan with maximum foreign equityparticipation of fifty one per cent unless adifferent percentage is inscribed against aparticular sector or subsector
(ii) All expenses of representative
offices where specifically provided forin this Schedule, shall be met by remittancesfrom abroad.  Such offices shall restrict their
activities to the undertaking of liaison work or
of representing the interest of the parentcompany abroad.3) Acquisition of real estate by non-Pakistani
entities and/or persons is subject to
authorization on a case-by-case basis keeping
into account the purpose and location of theundertaking
4) Unbound, except for measures concerning the
entry or temporary stay of natural persons up
to a maximum of fifty per cent in superior
categories (namely,  Executives andSpecialists) in an undertaking.  These naturalpersons shall have been employed by juridicalpersons of another Member for a period of notless than one year prior to the date of
application for entry into Pakistan, and shall
be transferred to render services to thejuridical person in Pakistan.S/DCS/W/PAK
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Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
(i)Executives  are:
persons within an organization who primarilydirect the management of the organization orestablish goals and policies for theorganization or a major component or functionof the organization, exercise wide latitude in
decision-making, and receive only general
supervision or direction from higher levelexecutives, or the Board of Directors.
(ii)Specialists  are:
persons within the organization who possessknowledge at an advanced level of expertise
and who possess proprietary knowledge of the
organization's product, service, researchequipment, techniques and managementS/DCS/W/PAK
Page 4Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
II. SECTOR SPECIFIC COMMITMENTS
1. BUSINESS SERVICES
Services incidental to
agriculture and forestry(excluding fishing andhunting)
(CPC No. 881+882)1) Unbound
2) Unbound*3) None4) Unbound except as indicated under horizontal
measures1) Unbound
2) Unbound*3) None4) Unbound except as indicated under horizontal
measures
 
Services incidental to
mining(CPC No. 883+5115)1) Unbound
2) Unbound*3) None4) Unbound except as indicated under horizontal
measures1) Unbound
2) Unbound*3) None4) Unbound except as indicated under horizontal
measures
Engineering services for
building infrastructures:harbours, dams, hydal
power, and airports, only
(CPC No. 8672)1) Unbound
2) Unbound*3) (i) Maximum of 40 per cent foreign
shareholding in engineering consultancy
companies;(ii) Subject to partnership and/or joint venturewith Pakistani engineers or engineeringcompanies.
4) Unbound except as indicated under
horizontal measures1) Unbound
2) Unbound*3) None
4) Unbound
                                                          
* Unbound due to lack of technical feasibility.S/DCS/W/PAK
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Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
Integrated engineering
services (CPC No. 8673)1) Unbound
2) Unbound*3) (i) Maximum of 40 per cent foreign
shareholding in engineeringconsultancy companies;(ii) Subject to partnership and/or joint venture
with Pakistani engineers or engineering
companies.1) Unbound
2) Unbound*3) None
4) Unbound except as indicated under horizontal
measures4) Unbound
B. Computer and Related 
Services
Consultancy services
related to the installation ofcomputer hardware(CPC No. 841)1) Unbound
2) Unbound3) None4) Unbound except as indicated under horizontal
measures1) Unbound
2) Unbound3) None4) Unbound except as indicated under horizontal
measures
Software implementationservices (CPC No. 842)1) Unbound
2) None3) None4) Unbound except as indicated under horizontal
measures1) Unbound
2) None3) None4) Unbound except as indicated under horizontal
measures
Data processing services
(CPC No. 843)1) Unbound
2) None3) None4) Unbound except as indicated under horizontal
measures1) Unbound
2) None3) None4) Unbound except as indicated under horizontal
measures
Data base services
(CPC No. 844)1) Unbound
2) None3) None4) Unbound except as indicated under horizontal
measures1) Unbound
2) None3) None4) Unbound except as indicated under horizontal
measuresS/DCS/W/PAK
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Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
R&D services on natural
sciences (CPC No. 851)1) Unbound
2) None
3) None
4) Unbound except as indicated under horizontal
measures.1) Unbound
2) None
3) None
4) Unbound except as indicated under horizontal
measures
Technical testing and
analysis services
(CPC No. 8676)1) Unbound*
2) None
3) None4) Unbound except as indicated under horizontal
measures1) Unbound*
2) None
3) None4) Unbound except as indicated under horizontal
measures 
2. COMMUNICATION SERVICES
C. Telecommunications services
General conditions of this schedule:  This offer is subject to the following general conditions:
- Policy, regulatory and operation functions are separate and compliance is necessary.
- All services to be provided in Pakistan shall require a licence from the Regulatory authority established under the law.
- Operators and Service providers may be grante d licence in accordance with the local legislation.
- The number of operators, service providers and licen sees may be limited due to technical constraints.
- The confidentiality of International Total Accounting Rate (TAR) shall be maintained.- The bilateral agreements on accounting rates shall be in accordance with ITU guidelines.
- Up to 100% foreign investment on licensed services may be permitted.
- This schedule on basic telecommunications does not include any broadcasting services.
1
                                                          
* Unbound due to lack of technical feasibility.
1 Broadcasting service is defined as a radiocommunication service in which the transmissions are intended for direct reception b y the general public.  This service may 
include sound transmission, television transmissions or other types of transmissions.  In Pakistan Telecom Law, like many other  countries, broadcasting is not part of 
basic telecommunication services.S/DCS/W/PAK
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Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
Local, domestic long
distance and internationalservices, for public:Until 2003, no bypass
2 of PTCL network and
PTCL shall have exclusivity.
None as of 1.1.2004.About 12 per cent stake of
the PakistanTelecommunicationCorporation (PTC), thesole operator for all basicTelecommunication
Services was sold to the
national and internationalbuyers in 1994-95 throughtwo different offers ofPTC vouchers innational and international
financial markets.
 
(a) Voice telephone services 1) All telecommunication services shall be
provided by licensed operators subject to theexclusivity period of 7 years for basictelephony services under the law in favour ofPTCL. This  exclusivity shall expire by theyear 2003.
None as of 1.1.2004.
2) Alternative practices such as call back are not
allowed. Country direct card service can onlybe permitted by mutual agreement with thelicensed operator.
3) Unbound
4) Unbound except as indicated in
horizontal section.1) Unbound
2) Unbound
3) Unbound
4) Unbound except as indicated in
horizontal section.The offers were many
times over subscribed. TheCorporation has been,inter alia, converted into alimited company namelyPakistan
Telecommunication
Company Ltd (PTCL)with effect from 1January, 1996 throughthe promulgation of alaw.  Bound with US$ 150
million have been floated
with an option to convertthem into PTCL shares.
                                                          
2 The GMPCCS/Satellite operators shall be reputed to pass traffic via Pakistan PSTN through transit and Gateway exchanges, speci ally in case of overseas communication from Pakistan.  
Any operation contrary to this shall be termed as ‘bypass”.S/DCS/W/PAK
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Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
(b) Packet-switched data,
E-mail, Internet and Intranet services
(c) Circuit-switched data
transmission services1) Until 2003, except for domestic
VSAT, only through networkfacilities of PTCL. The regulatory authority to grant licences and authorizations to private companies for operation of data, E-mail, Internet and Intranet services in addition 
to the licences already granted.
2) None1) Unbound
2) NonePrivatization of PTCL is
on the anvil.  Themanagement of theCompany shall betransferred to the selectedstrategic operator.
Exclusive licence for
operation of basictelephony services for aperiod of 7 years grantedto the PCTL.
3) Subject to technical constraints, the
regulatory authority to grant licences and 
authorizations to private companies for 
operation of domestic VSAT, data, E-mail, Internet & Intranet services in addition to the licences already granted.
4) Unbound except as indicated in
horizontal section.3) None except for technical constraints
4) Unbound except as indicated in
horizontal sectionThe Pakistan
Telecommunications (Re-
organisation) Law has
been passed as an Act ofParliament in October1996.  An independentRegulatory Authority and aFrequency Allocation
Board have been
established. Chairman,members and otheressential staff of thesebodies is already in place.
The Authority and Board
are already functional.  Tosupport effectiveregulation andspectrum managementGOP is undertaking of
PTA & FAB.S/DCS/W/PAK
Page 9Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
(d) VSAT for domestic data
services1) The regulatory authority to grant licences and
authorizations to private companies foroperation of VSAT for domestic data, E-mail,Internet and Intranet services in addition to thelicences already granted
2) None
3) None
4) Unbound except as indicated in the horizontal
section1) None
2) None
3) None
4) Unbound except as indicated in the horizontal
sectionThe Pakistan
TelecommunicationAuthority establishedunder the law as anindependent body isresponsible to:
- Regulate
telecommunicationservices.
- Grant and renew 
licences.
- Promote and protect
the interests
of consumers
- Promote efficient cost
effectiveand competitiveservices.
- Carry out inspections.
- Regulate tariffs.
(e) Telex services 1) None
2) None3) None4) Unbound except as indicated in horizontal
section.1) None
2) None3) None4) Unbound except as indicated in horizontal
section.S/DCS/W/PAK
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Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
(f) Telegraph services 1) The regulatory authority shall grant licences
and authorizations to private companies foroperation of Telegraph services using PTCLinfrastructure until 2003.
2) None3) None
4) Unbound except as indicated in horizontal
section.1) None
2) None
3) None
4) Unbound except as indicated in horizontal
section.- Prescribe standards
- Determine terms of
interconnectionagreements.
- Investigate and
adjudicate on
complaints.
- Enforcement on 
valuation
- International traffic
andaccounting
settlements.
- Issue regulations.- Receive applications
for frequencyallocation.S/DCS/W/PAK
Page 11Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
(g) Facsimile services 1) None
2) None3) None4) Unbound except as indicated in
horizontal section.1) None
2) None3) None4) Unbound except as indicated in
horizontal section.
(h) Private leased circuit
services1) Pakistan Telecommunication
Company Limited except for
domestic VSAT, is the exclusiveservice provider for seven years. Thisexclusivity shall expire by the year2003.
None as of 1.1.2004.1) Unbound The frequency allocation
Board
established under the lawis responsible to allocateand assign frequencyspectrum fortelecommunication,
broadcasting public and
private wireless servicesand classify radiotelecommunicationservices.
2) None3) Pakistan Telecommunication
Company Limited except fordomestic VSAT, is the exclusiveservice provider for seven years. This
exclusivity shall expire by the year
2003.
4) Unbound except as indicated in horizontal
section.2) None
3) Unbound
4) Unbound except as indicated in horizontal
section.Appeals against the
decisions of the Authoritymay be filed in the HighCourt Following serviceshave been licensed to the
private operators and
further licensing could bepossible:S/DCS/W/PAK
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Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
(i) Video conferencing tele-
medicine and tele-educationterminal end services1) The regulatory authority shall grant
licences and authorizations to privatecompanies for operation of video-conferencing, tele-education andtelemedicine services, using PTCLnetwork until seven years.1) None - Cellular Mobile
telephone services.
- Card pay phones 
services
-P a g i n g- Data network
operation
- Voice Mail Service- Audio Tex Service
2) None3) None4) Unbound except as indicated in
horizontal section2) None
3) None
4) Unbound except as indicated in
horizontal section- Trunk Radio service
- Electronic Mail and
internet services
- Use of domestic
satellites for provision
of telecom services
- Manufacture of telex,
fax, allPABXs/Digitalexchanges and
modems
- manufacture of
Fibre/Optic/coppercables
- manufacture of
telephone sets,
terminal equipmentansweringmachine etc.
- manufacture of
jointing material
or copper/optic cablesS/DCS/W/PAK
Page 13Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
(j) Trunked radio service 1) The regulatory authority to grant licences and
authorizations to private companies foroperation of Trunked Radio service inaddition to the licences already granted usingPTCL network until 2003.
2) None
3) None
4) Unbound except as indicated in
horizontal section1) None
2) None
3) None
4) Unbound except as indicated in the horizontal 
sectionRegulatory Authority shall
grant licences oncompetitive basis as pertelecom law andregulations.Regulatory Authority may
grant licences for satellite
based services onfollowing conditions:
(a)  Frequency clearance 
by Board
(b)  Security and
sovereignty
regulations
(c) Availability of
ITUT/R standards
(d)  resolution of cross-
bordercommunication
issues; and
(e)  resolution of Customs
procedures
(k) Satellite based telephony
services,  including value
added services operatingover satellite1) Maintaining PTCL exclusivity for
seven years on basic and
international telephony services andsafeguarding PSTN bypass licencesshall be granted
2) None3) None
4) Unbound except as indicated in
horizontal section1) None
2) None
3) None except for technical, sovereignty,
security constraints and safeguarding
PSTN bypass
4) Unbound except as indicated in
horizontal sectionS/DCS/W/PAK
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Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
On-line information and
data base retrieval(CPC No. 7523)1) None
2) Unbound3) (a) As in measures applicable to all
sectors(b) Subject to use of PakistanTelecommunication Corporation network
4) Unbound except as indicated under
horizontal measures1) None
2) Unbound3) None
4) Unbound except as indicated under
horizontal measures
On-line information and/ordata processing(CPC No. 843)1) Unbound
2) Unbound3) (a) As in measures applicable to all
sectors
(b) Subject to use of Pakistan
Telecommunication Corporationnetwork
4) Unbound except as indicated under
horizontal measures1) Unbound
2) Unbound3) None
4) Unbound except as indicated under
horizontal measuresS/DCS/W/PAK
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Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
3. CONSTRUCTION AND
RELATEDENGINEERINGSERVICES
B. Construction Work for
CivilEngineering for bridges,
elevated highways, tunnels
and subways(CPC No. 5132)1) Unbound*
2) Unbound*3) (i) As in measures applicable to all
sectors;
(ii) Subject to partnership and/or jointventure with Pakistani engineers orengineering companies.
4) Unbound except as indicated under
horizontal measures1) Unbound*
2) Unbound*3) None
4) Unbound 
Construction Work for
CivilEngineering for waterways,harbours, dams and otherwaterworks
(CPC No. 5133)1) Unbound*
2) Unbound*3) (i) As in measures applicable to all
sectors;(ii) Subject to partnership and/or joint
venture with Pakistani engineers or
engineering companies.
4) Unbound except as indicated under
horizontal measures1) Unbound*
2) Unbound*3) None
4) Unbound 
                                                          
* Unbound due to lack of technical feasibility.S/DCS/W/PAK
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Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
7. FINANCIAL SERVICES
Pakistan undertakes the Commitments on Financial Services in terms of the provisions of Part III of the Agreement.  These commi tments are based on the 
understanding outlined in Article XIX of the Agreement, and are subject to the availability of similar commitments from large n umber of countries of significance to 
Pakistan.  For these reasons, Pakistan does not consider itself to be prevented from adopting or enforcing non-discriminatory m easures aiming at protecting the 
soundness and integrity of banking and insurance industry.
A. Insurance and Insurance-
related Services
Insurance
- Life 1) Unbound
2) Unbound
3) (a) Bound for the existing foreign
insurance services providers as totheir scope of operations and equitystructure.
(b) Maximum of 25% of foreign
shareholding in existing life insurancecompanies.(c) Foreign equity in new lifeinsurance companies permitted up to51%.
4) Unbound except as indicated under
horizontal measures.1) Unbound
2) Unbound
3) Unbound
4) Unbound except as indicated under
horizontal measures.
- Non-life 1) Unbound
2) Unbound3) Bound for the existing foreign
insurance services providers as to
their scope of operations and equitystructure.
4) Unbound except as indicated under
horizontal measures.1) Unbound
2) Unbound3) Unbound
4) Unbound except as indicated under
horizontal measures.S/DCS/W/PAK
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Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
Reinsurance services
Reinsurance services andretrocession(CPC 81299)1) None
2) Unbound3) Unbound4) Unbound except as indicated under
horizontal measures.1) Unbound
2) Unbound3) Unbound4) Unbound except as indicated under
horizontal measures.
B. Financial Services
(excl. insurance)The commitments in Financial
Services are given to the nationals and
financial institutions of the Memberswhose laws and policies do not bar theprovision of similar commitments tothe Pakistani nationals and financialinstitutions.Provisions of all banking and financial
services in Pakistan are subject to the
injunctions regarding Islamic bankingas pronounced by the competent courtsin Pakistan.
I. Banking
(a) Acceptance of deposits and
other repayable funds fromthe public in Pakistan1) Unbound
2) Unbound3) (i) Bound for the volume of deposits
and other repayable funds mobilised
by foreign banks in Pakistan as at the
time of conclusion of the Negotiationson 12 December 1997.1) Unbound
2) Unbound3) The shares held by foreign nationals
and foreign financial institutions in their
locally incorporated subsidiaries not
transferable without the prior writtenapproval of the Central Bank.
(ii) Foreign banks (other than those already 
operating their branches in Pakistan as on 
12 December 1997) permitted to accept deposits and other repayable funds from public by setting up locally incorporated limited companies with foreign equity ownership up to 49%.S/DCS/W/PAK
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Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
Licence to undertake commercial
banking business required from theCentral Bank.  The Licence to foreignbanks will be issued on the basis ofsame eligibility criteria as applicableto domestic commercial banks.  The
minimum paid-up capital required to
undertake banking business by foreignbanks shall not be more than what isrequired by the domestic commercialbanks, i.e. US$11.5 million.
(iii) Bound for the number ofbranches of foreign banks operating in
Pakistan as at the conclusion of the
Negotiation on 12 December 1997.Change in the controlling share-holders of the foreign banks operatingtheir branches in Pakistan may requirenew licence.  Other foreign banks will
be allowed up to three branches at the
place of their choice.  ATM's installedat the branch premises not treated as aseparate branch.
(iv) Prior permission in writing of the
Central Bank is required by any
person for holding beneficialownership of 5% or more of the paid-up capital of any bank/financialinstitution.(v) Representation of foreign
nationals on the Board of Directors
allowed in proportion to their shareholding.
4) Unbound 4) UnboundS/DCS/W/PAK
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Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
(b) Lending of all types
including consumer credit,mortgage, factoring, creditand financingcommercial transaction1) Unbound
2) Unbound3) (i) Bound for the total volume of
foreign banks' assets in Pakistan at thetime of the conclusion of theNegotiations on  12 December 1997.1) Unbound
2) Unbound3) Lending by banks to companies
controlled by non-residents is subject tothe borrowing entitlements of theforeign companies as determined by
foreign exchange rules applicable from
time to time.
(ii) Investments in shares of existingdomestic banks permitted to foreignnationals/foreign financial institutionsfor trading purposes. Acquisition ofmanagement control of existing public
sector banks considered on case-by-
case basis under specific Sale-Purchase Agreements to be approvedby the Central Bank.
4) Unbound except as indicated under
horizontal measures.
Employment of foreign nationals in banks and
financial institutions operating in Pakistanrequire prior clearance of the Central Bank.4) Unbound except as indicated under
horizontal measures.
(c) All payment and money
transmission servicesincluding traveller chequesand banker's draft (but
excluding credit, charge
and debit cards)1) Unbound
2) Unbound3) Foreign banks branches operating in
Pakistan at the conclusion of the Negotiation
on 12 December 1997 and banks incorporated
in Pakistan permitted to undertake all paymentand money transmission services.
4) Unbound except as indicated under
horizontal measures.1) Unbound
2) Unbound3) Unbound
4) Unbound except as indicated under horizontal
measures.S/DCS/W/PAK
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Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
(d) Guarantees and
commitments1) Unbound
2) Unbound3) Guarantees and commitments in
foreign currency and those undertakenin favour or on behalf of non-residentto be governed by foreign exchange
laws.
4) Unbound except as indicated under
horizontal measures.
(e) Trading, for own account
only of:
-m o n e y  m a r k e t
instruments;
- foreign exchange;- transferable
securities;
- other negotiable 
instruments.1) Unbound
2) Unbound3) (i) The issue, sale and purchase of foreign
currency and traveller cheques is allowed
to commercial banks licensed asAuthorized Dealer.1) Unbound
2) Unbound3) Unbound
(ii) Foreign banks allowed to set up
joint ventures with local persons withequity participation up to 50% after
obtaining Licence from the State Bank
to undertake the sale and purchase offoreign currency and travellercheques.
(iii) Transmission of permissible
funds including foreign currency can
be effected only through authorized
banking channels.S/DCS/W/PAK
Page 21Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
(iv) Commercial banks incorporated
in Pakistan and the branches offoreign banks in operation as on 12December 1997 allowed to operate incall money market.
4) Unbound except as indicated under
horizontal measures.4) Unbound except as indicated under
horizontal measures.
(f) Participation in issues of all
kinds of securitiesincluding only publicunderwriting and placement
as agent and provision of
services related to suchissues1) Unbound
2) Unbound3) Branches of foreign banks in
operation as on 12 December 1997
and banks (including investment
banks) incorporated in Pakistanpermitted to arrange and participate inany public issue and underwriting ofsecurities up to 30% of the total paid-up capital of the issuer or 30% of their
respective paid-up capital whichever is less.1) Unbound
2) Unbound3) Unbound
All investments in shares made as aconsequence of underwriting commitmentsmust be reported forthwith to the Central
Bank, and is required to be disinvested within
30 days of the investments as approvedby the Central Bank.
4) Unbound except as indicated under horizontal 
measures.4) Unbound except as indicated under horizontal
measures.
(g)  Settlement and clearing
services for negotiableinstruments (cheques, billsand promissory notes only)1) Unbound
2) Unbound3) All commercial banks are required to be
members of the clearing systemoperated/approved by Central Bank to effect
interbank settlements.
4) Unbound except as indicated under 
horizontal measures.1) Unbound
2) Unbound3) Unbound
4) Unbound except as indicated under
horizontal measures.S/DCS/W/PAK
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Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
II. Leasing 1) Unbound
2) Unbound3) Foreign leasing companies will be permitted
to set up subsidiary leasing companies inPakistan with shareholding not exceeding 51%of the total capital to undertake operational
leasing including cross-border leasing.
Resource mobilization from the domesticmarket to be governed by the same rules andregulations as applicable to domesticmobilization of resources.1) Unbound
2) Unbound3) None
4) Unbound except as indicated under horizontal
measures.4) Unbound except as indicated under horizontal
measures.
III. Asset Management:  the
following only:
(a) Cash or portfolio
management;
(b) All forms of collective
investmentmanagement; and
(c) Custodial and
depository services.1) Unbound
2) Unbound3) (i) Entities licensed by the Central Bank and
banks incorporated in Pakistan can undertake
portfolio management services through their
locally incorporated subsidiaries set up for thepurpose with shareholding in such subsidiariesup to 51%.1) Unbound
2) Unbound3) NoneS/DCS/W/PAK
Page 23Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
(ii) Management of foreign currency
assets will be governed by the foreignexchange regulations applicable fromtime to time.
4) Unbound except as indicated under 
horizontal measures.4) Unbound except as indicated under
horizontal measures.
IV. Financial and investment
advisory services1) Unbound
2) Unbound3) Banks incorporated in Pakistan will be
permitted to undertake financial and advisoryservices through subsidiary companies set upfor this purpose with shareholding up to 100%
provided that transactions undertaken/services
provided by such subsidiaries do not createany financial obligations whether contingentor otherwise on the balance sheet of theholding company or otherwise.1) Unbound
2) Unbound3) None
4) Unbound 4) Unbound except as indicated under horizontal
measures.
V. Provision and transfer of
financial information andfinancial data1) Unbound, except for the provision of publicly
available data and financial information oncorporate entities by institutional providers
having commercial presence in Pakistan.
2) Unbound3) Unbound4) Unbound except as indicated under
horizontal measures.1) Unbound
2) Unbound
3) Unbound4) Unbound except as indicated under
horizontal measures.S/DCS/W/PAK
Page 24Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
8. HEALTH AND RELATED
SOCIAL SERVICES
A. Hospital services
(CPC No. 9311)1) Unbound*
2) None3) (a) As in measures applicable to all sectors
(b) Subject to Pakistan Medical and
Dental Council Regulations
4) Unbound except as indicated under
horizontal measures1) Unbound*
2) None3) None
4) Unbound except as indicated under
horizontal measures 
Medical and dental services(CPC No. 9312)1) Unbound*
2) None
3) (a) As in measures applicable to all sectors
(b) Subject to Pakistan Medical andDental Council Regulations
4) Unbound except as indicated under
horizontal measures1) Unbound*
2) None
3) None
4) Unbound except as indicated under
horizontal measures
9. TOURISM AND
TRAVEL RELATEDSERVICES
A. Hotels and restaurants
(including catering)(CPC No. 614-643)1) Unbound*
2) Unbound
3) None4) Unbound except as indicated under horizontal
measures1) Unbound*
2) Unbound
3) None4) Unbound except as indicated under horizontal
measures
                                                          
* Unbound due to lack of technical feasibility.S/DCS/W/PAK
Page 25Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
B. Travel agencies and tour
operator services
(CPC No. 7471)1) Unbound
2) Unbound3) None4) Unbound except as indicated under horizontal
measures1) Unbound
2) Unbound3) None4) Unbound except as indicated under horizontal
measuresS/DCS/W/PAK
Page 26
ATTACHMENT TO PAKISTAN'S SCHEDULE
(Reference Paper)
1. Transparency of Regulations
1.1 Laws and regulations pertaining to provisions of basic telecom services shall be published.1.2 Advanced public notice and a fair opportunity will be provided for interested parties to
comment on proposed measures affecting the provision of basic telecom services.
1.3 The Regulatory Authority consists of three members, one is a professional telecom engineer
and other two are technical and financial experts, appointed by the Government for a term of four
years and eligible for appointment for a similar term.
1.4 Any member of the Authority shall not have any direct or indirect financial interest in, or
have business connection with any person, any establishment or firm which renders telecom services
in Pakistan or abroad. For above purpose even any involvement of the spouse or blood relation of any
member of the Authority with any telecom firm shall be considered as a direct financial interest or
connection with such firm.
1.5 The Authority shall ensure that:
(a) rights of licensees are duly protected;(b) decisions and determinations are made promptly in open, equitable, non-
discriminatory, consistent and transparent manner;
(c) the persons affected by its decisions or determinations are given a due notice and 
provided opportunity of being heard.
1.6 A person aggrieved by any decision or order of the Authority can within thirty days of the
receipt of order, appeal to the High Court and the Court shall decide such appeal within ninety days.
1.7 A person aggrieved by any decision or order of any officer of the Authority may, within thirty
days of the order, appeal to the Authority and th e Authority shall decide such appeals within thirty
days.
2. Interconnection and Numbering
2.1 In the event that a service supplier is unable to reach agreement with any or dominant service
supplier or interconnection, following a reasonable amount of time, either party may refer the dispute
to the Regulator in Pakistan.
2.2 Service suppliers shall be required to disclose information concerning technical
measures/parameters that will affect use of such facilities for other service suppliers.
2.3 The Regulatory Authority shall exercise all powers to enable it to effectively provide
guidelines for, and determine, the terms of inte rconnection arrangements between licensees where the
parties are unable to agree.
2.4 Authority shall develop/assign non-discri minatory national telecommunication numbering
plans.
3. Competition Safeguards and standardsS/DCS/W/PAK
Page 27
3.1 When facilities-based service supplier with dominant market position is found engaged in
unfair or anti-competitive practices, remedial measures will be available.
3.2 When dominant service supplier provides a competitive service he shall establish separate
accounting procedure for the competitive service. Cross subsidy is not permitted.
3.3 The Authority shall notify and publish regulations for establishing national standards for
telecom equipment and services. The Authority can specify different standards for different classes of
telecom equipment/services and establish procedure for testing.
3.4 The Authority shall not restrict the type of telecom equipment that may be used for the
establishment, maintenance or operation of telecom systems or services.
4. Tariff Regime
The level of tariffs for telecom services including basic telephone service shall be regulated
by the Authority in accordance with the regulations including following principles:
4.1 The regulations shall apply equally to comparable provider/users of any regulated telecom
service;
4.2 The criteria used for the establishment of tariff shall regularly be published three months
before the criteria is adopted;
4.3 Tariffs shall be at a level which provides a reasonable rate of return on investments taking
into account the cost of operation; and
4.4 There shall be no cross-subsidization of other telecom services by basic telephone service.
_______________S/DCS/W/PAK
Page 28
PAKISTAN – FINAL LIST OF ARTICLE II (MFN) EXEMPTIONS
Sector or SubsectorDescription of measure
indicating its inconsistency
with Article IICountries to which the
measure appliesIntended durationConditions creating  the need for
the exemption
Banking and otherfinancial servicesForeign service promoters are
granted licenses on the basis of
reciprocity.All countries The reciprocity
requirement will remain in
place until similar
measures maintained byother countries in thissector are removed.The reciprocity requirement is put in
place to ensure that Pakistani banks
are accorded equivalent market
access in places outside Pakistan.
Favourable treatment of
financial institutions set up to
undertake Islamic financingtransactions.All countries Indefinite The financing transactions are
determined and governed by
Religious Boards set up for thepurpose by each Islamic financialinstitution.
Separate regulations may be laid
down for banks which are
required to undertake andfinance treasury function andother non-profitable commodityoperation programmes and otherprice support schemes of the
Government.All countries Indefinite Commodity operation programme is
an essential government function
undertaken through banks.  Treasuryfunction is performed by NationalBank of Pakistan on behalf of theCentral Bank.  These are non-profitable transactions of the banks.
Favourable treatment offinancial institutions set up asjoint ventures under the
framework of ECO or other
protocols signed amongst theECO Member countries.ECO member countries Indefinite The Treaty of Izmir and the Istanbul
Summit held in July 1993 amongstothers decided for the establishment
of financial institutions by the
governments of ECO Member Stateswith the obligation of meeting thegoals of regional economicintegration.S/DCS/W/PAK
Page 29Sector or SubsectorDescription of measure
indicating its inconsistency
with Article IICountries to which the
measure appliesIntended durationConditions creating  the need for
the exemption
Telecommunications Bilateral agreements in the field
of telecommunication serviceson reciprocity requirementsECO member countries and
BangladeshIndefinite The exemption is linked to
commitments arising out of bilateralagreements
2.C Telecommunication
Services-International
serviceMeasures including the
application of differentaccounting rates for different
operators/countries covered by
InternationalTelecommunication ServicesAgreements between PakistanTelecommunication CompanyLtd and various foreign
operators.Countries covered by
InternationalTelecommunication Services
Agreements between Pakistan
Telecommunication CompanyLtd and foreign operators.Indefinite On account of bilateral agreements
between Pakistan TelecommunicationCompany Ltd and various foreign
operators dealing with various
aspects of cooperation.
2.C. Telecommunication
Services -International
serviceMeasures including the
application of differentaccounting rates for different
neighbouring countries covered
by TelecommunicationAgreements entered into by theGovernment of Pakistan withgovernments of neighbouringcountries.Neighbouring countries Indefinite On account of bilateral agreements
with governments of neighbouringcountries.
__________