Made in Pakistan

This refers to the article ‘100 days’ (December 2) by Dr Farrukh Saleem. The writer says that the PTI’s economic policy “stands on three pillars: exports, investments and remittances”. It is important to understand that despite best efforts, the increase in export earnings, rise in FDI and higher remittances will take time to happen. Therefore, major reduction in the current account deficit cannot take place in short term. There appears to be a missing link in the government’s economic strategy. It is surprising that the PTI has not focused on curbing the import bill. This is an easier and shorter route to reduce the deficit. A regulated and controlled import regime must be put in place. The import of luxury and non-essential foreign goods should be banned. President Arif Alvi has recently advised the people to buy Pakistani products. This sagacious advice can be translated into reality, if the import of unnecessary foreign products is discontinued by the government. This measure will curb the import bill, conserve foreign exchange and have a healthy impact on the Pakistani rupee.Arif MajeedKarachi

from The News International - Newspost https://ift.tt/2BQyCyx