LAHORE: Recently, the prime minister’s team of economic advisers suggested banning import of cheese in the country alongside other luxury items in a bid to fix the trade and current account deficits. One wonders why the PM’s advisers have recommended the import of cheese? Surely, the fact that hundreds of business ventures, including numerous food joints, will be affected by the move has been ignored.
Moreover, instead of banning or reducing the import of cheese the government should increase exports of products in which Pakistan enjoys comparative advantage. International trade is done on the basic principle of comparative cost difference.
Published in The Express Tribune, September 12th, 2018.