Karachi: After economic recovery, Pakistan stands at a crossroads, where some experts believe that the pace of growth should be accelerated to control rising poverty after the zero average growth of the last 15 years.
While other experts, who are influential businessmen and experts in the Ministry of Finance, say that the recovery process is going through a critical period, and as a result of rapid growth, the country may face a large trade deficit.
In fact, Pakistan’s exports have been in a continuous decline between the last two decades and have been recorded as a decline of 20 percent.
According to a recent World Bank report, the main reason for the decline in exports is trade policy, where other countries are reducing trade barriers and integrating their economies regionally and globally.
Pakistan is moving in the opposite direction, currently Pakistan’s tariffs are at least twice the world average and three times higher than those of East Asian countries.
Pakistan could not benefit significantly from GSP Plus status and CPEC projects. No country has succeeded in increasing exports without domestic reforms.
