Interesting to see that the growth is propelled by a boom in textiles and food products exports. I'm curious if this is from pent up demand from COVID or because Pakistan grabbed bigger market share from other players.
eurasiantimes.com
Imran pulled a rabbit out of the hat in containing COVID. Kudos!Host of factors.
Increasing electricity consumption by the industry after tariffs were lowered on an incremental basis under an industrial energy package, the higher peak demand tariff was reduced, better supply of gas to say fertilizer comp. and many.
Some orders did got shifted to Pakistan fom BD, India, others.
Pakistan's Textile Industry "Wins Big" As India, Bangladesh Get Ravaged By COVID-19 Pandemic
While India went into full lockdown in March due to the COVID-19 pandemic, Pakistan opened its factories in the midst of a national lockdown as early as April. Follow EurAsian Times on Google News This early opening gave Pakistan a big win in textile exports over its neighbors including India...
Higher cotton and wheat production.
Higher non traditional exports.
Exports to China surge 69pc to $3.6bn in 2021
Imports from Beijing rise 57.8 per cent to $24.23 billion.www.dawn.com
Our agricultural productivity is a fifth of what it could be. We have the potential to increase arable land by 55% with more dams, Our water use is 7 times as inefficient as California. We could implement coal gasification (with the water properly used) and save on a large portion importing fuel, as well as build up our own petrochemical and pharmaceutical industries from the domestic coal based fuel. (Fuel prices are about to rebound soon enough, and we need to get prepared before we are blind sighted again). Mining could grow with the Reko-Diq dispute resolved, as we attract more investors. We could move up the value added chain and start our own fashion brands that can be sold around the world. There are a whole lot of sectors that can grow, so it’s really up to us how quickly we get our industries modernized and how much we can export.
I hope the government lays out a road map to reach an annual export of over a $100 billion by the end of the decade. We need to aim high and make the required reforms to reach it. We need a road map the allows our economy to grow as fast as it possibly can, and not be capped at under 7% for fear of a new circular debt/IMF situation. We need a plan that attracts at least 3 if not 5% of GDP FDI year on year for the next 20-30 years so we can maximize the utilization of our Demographic dividend.
If we can sustain at least an average of 7% a year over the next 25 years; we can reach a $2 Trillion dollar economy as projected by the world Bank. Which, depending on the size of the population, could mean a standard of living between that of the Dominican Republic or Serbia and Malaysia or Turkey of a few years ago. Sustained growth of 7% a year is not an unrealistic target, but will require a generation of real dedication.
World Bank sees Pakistan's potential to be a $2 trillion economy | The Express Tribune
Lender says four influential groups have frustrated efforts to bring reforms in countrywww.google.com
Exactly, the nation needs to aim higher. But, as another person pointed out, people won’t change their behavior; farmers don’t want to change how they farm, they don’t want to use drip irrigation. What do you think should be done to bring about convincing people to change?
I don't know. But perhaps Education and information. In the 1970s, the govt. of Pakistan had graffities/signs in Karachi saying something like 'Rs. 5,000 reward for anyone finding a smallpox affected person'. Hey @ghazi52 : Maybe you can find such graffiti for your 'Nostalgia' thread??
Exactly, gov't can save a ton on energy cost, if only it will mandate that no shop/bazaar will stay open past 9 PM and to utilized daylight as much as possible.
www.statista.com
Maybe a media campaign, to include a documentary (with facts and figures and archive footage of before and after of transformations of other countries) on the benefits of the new methods; increase in productivity and greater employment opportunities when there is more money coming into the country. Perhaps showing how it was done in other countries so people can see with their own eyes, that change is for the better.
I can’t disagree with you there. The majority of the people have to want it or at least be convinced to bear the initial burden. How do you think this could be done or better yet, should be done? If we don’t try, future generations will curse us for hot even trying.
Australian exports are actually over $480 Billion and thats thanks to the mining industry that has appox 60% share.
View attachment 811156
International Tourism alone brought in A$44.6B (USD $31.92B) for Australia during 2018-19. ( after that due to covid it went down to almost 0%)
The Economic Importance of Tourism - Corporate - Tourism Australia
Discover the importance of tourism, and why tourism in Australia continues to be a driver of growth for the Australian economy.www.tourism.australia.com
Forget Australia, Even Bangladesh has more exports than Pakistan
View attachment 811160
Bangladesh - export of goods 2023 | Statista
Total exports of goods from Bangladesh rose to 55.79 billion U.S.
That was a different time and different people, Pakistanis then were newly independent and there wasn't this BS about Sindhi, Punjabi, Mahajir etc. Karachi was progressing because it was running on merit and not quota system. Now Pakistan has changed, people are lazy, corrupt, religiously & ethnically fanatic, you can actually get the glimpse of it on PDF.
