FuturePAF
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Never said it should be import and consumption based. It should be products and services Pakistan can find a competitive advantage in and export, as well as finding domestic alternatives to some imported items such as petrochemicals to a certain degree.
Organic farming on an industrial scale for export to the GCC and China, Medical devices, Indus Valley civilization/Himalayan Tourism (Pre-Hindu, Hindu, Buddhist, Islamic, Sikh, and British period Historical sites), our own fashion brands not just making clothes for other companies, Pharamceuticals (instead of payment for oil pipelines, we could be paid in oil at below market prices to be used exclusively for the pharmaceutical industry), and of course MINING. We should be mining our own resources like the Gold mine at Reno-Diq. Selling wasteful industries and investing in equipment into ventures like mining will put Pakistan on a path to be able to mine all over Pakistan independently as well as possibly mine in Afghanistan should relations improve down the line. Starting with mining and all these other industries we can go into value added industries.
We can also make our industries more efficient through tax break incentives to have business owners invest in modernizing their equipment or workforce.
Equipment or Labor that is local, so money is circulated even more in the economy, similar to the German Mittlestand model (of small and medium sized enterprises).
We can find ways to do industrial scale recycling (considering our relatively low labor costs) in certain fields where it is economically viable.
We need a whole of society, generational plan, to focus on the economy and keep out of any conflict to maximize reinvestment in growth.
we also need a plan to attract at least 2-3% of GDP in FDI year after year (especially as the economy grows) to fuel growth. At current GDP numbers that would be around $5.5-8.5 billion dollars this year. That is what Pakistan attracted in the early 2000s for a few years and we saw the economic growth.
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