Opinion: Trade prioritised at industry’s expense
This preference, intended or otherwise, is harmful for the country
PHOTO: REUTERS
ISLAMABAD:
Pakistan’s economic policies are oriented towards trade promotion [warehousing and cargo transport etcetera] rather than manufacturing and industrialisation, Pakistan Businessmen and Intellectuals Forum (PBIF) President Zahid Hussain stated on Wednesday. This preference, intended or otherwise, is harmful for the country, he opined. “Investable funds are moving towards unproductive sectors like real estate and speculation which is resulting in increased imports and decreased exports,” he said in a statement, adding that industrialists were converting into traders due to this trend. “Export sector continues to retreat in the international market because of reduced competitiveness while the industries catering to local needs are enjoying a high level of protection which is harming consumers [due to higher costs and low quality goods],” he added.
Published in The Express Tribune, July 6th, 2017.
Pakistan’s economic policies are oriented towards trade promotion [warehousing and cargo transport etcetera] rather than manufacturing and industrialisation, Pakistan Businessmen and Intellectuals Forum (PBIF) President Zahid Hussain stated on Wednesday. This preference, intended or otherwise, is harmful for the country, he opined. “Investable funds are moving towards unproductive sectors like real estate and speculation which is resulting in increased imports and decreased exports,” he said in a statement, adding that industrialists were converting into traders due to this trend. “Export sector continues to retreat in the international market because of reduced competitiveness while the industries catering to local needs are enjoying a high level of protection which is harming consumers [due to higher costs and low quality goods],” he added.
Published in The Express Tribune, July 6th, 2017.