Pakistan’s economy is struggling with a trade imbalance. Strengthening exports is vital not only to reduce this gap but also to boost foreign exchange reserves, create jobs, and ensure sustainable economic growth. We are relying on textiles and some other sectors while many other areas are either neglected or the quality does not compete with the international market. We have rich agricultural resources and improving the quality, value addition, and branding of agricultural products can significantly expand export revenues. The global demand for IT services is rising. Pakistan, with a young and tech-savvy population, is well-positioned to capture a larger share of the IT services market. We also have the potential to become a significant player in the global pharmaceutical market, especially in regions like Africa and Central Asia.
Moving up the value chain by exporting engineering goods like machinery, automobile parts, and consumer electronics can increase the country’s industrial capacity and revenue potential. Ensuring that export products meet global standards is crucial to accessing and expanding market reach. Pakistan is reducing the exchange rate to boost exports while the consistent quality issues are totally neglected. Training programmes for aspiring exporters on international market trends, financial management, and supply chain logistics can also lead to the emergence of new exporters.
Sajid Awan
Dubai