Lets agree that the govt inherited power crisis and country was under siege by terrorists of all kinds in all across the country leaving very little room for the any improvisation in the economic situation, which is directly related on the law and order situation and mercy of wealthy countries. Still there was some room to at least have following added in there list of exports to provide diversity and lay foundation for a economic boom
Exports,
Pakistani export is declining and it will continue to do so unless we manufacture goods which are needed in the future market, it is as simple as that, e.g. we still produces that same old bicycle which we may seen with our grandparents, we still manufacture same old irom which we use to import in 70s and 80s, same with water pumps, and with most of pakistani exports…there is no research, no innovation, no nothing which can attract any buyer…
World have changed, so does the necessity and accessories… Unless we and our manufacturer changes the way he thinks, our local industry would be dominated by cheap products of china..heck, we cannot even design and comfortable shoe or sandal and Chinese one is lot better than we make…
Long story short on how to increase exports and compete in intl markets. B*****ng is one and investment in advance technologies and industrialization of agriculture sector should be the key. Not to mention export of services shall be gateway to enter into export arena.
There is little development here and there but no substantial support or encouragement from business community and govt. Road and infrastructure contracts can bring billions of dollars, but in Pakistam only NLC or FWO can build roads and hence there is no company in private sector which can bid and win such contracts…
2nd is bio-tech, nothing substantial in this field yet… Huge potential and can earn us billions, as far as i know, very few companies are doing it but that also not under their own brand name..as i was informed.
3rd is agriculture, govt need to industralize it, period… Only a well planned and organized mango plantation can earn us a billion or two, fisheries in scientific fashion would get us 5-6 billion extra, cattle farming and fruits and vegetables.. Edible oil
4tg is building refineries, even if cannot make big one still we can have small refinery for furnace oil, diesel etc…
5th cometics
Imports
Pakistan’s import bill is increasing like anything… Most of things we import are, palm/edible oil, oil/petroleum products,
List is too long, sad part is, we are importing things we can easily produce locally…but wont do that for some insane reason.
Last not least, our munshi in charge have no idea of how to increase exports and introduction of new product lines…he knows how to invest remittances to cover current account deficit instead of investing it in right place or knows how to get more loan in the reserves and then pay the interest on the very resreves from the reserves for the reserves.