Mr. S. M. Tanveer, chief of the Federation of Pakistan Chambers of Commerce & Trade (FPCCI), has expressed severe concern over Pakistan’s rising dependence on remittances and debt-driven consumption as a substitute of exports as the inspiration for financial progress and growth.
In an announcement, Mr. Tanveer highlighted the structural challenges dealing with Pakistan’s export sector, noting an estimated $60 billion hole in unrealized export potential.
He identified that Pakistan’s export-to-GDP ratio has declined sharply—from 16 p.c within the Nineteen Nineties to 10.4 p.c in 2024.
Evaluating Pakistan’s efficiency with regional rivals, he mentioned Vietnam’s exports account for 95 p.c of its GDP, whereas Bangladesh stands at round 20 p.c and Thailand at almost 60 p.c, underscoring Pakistan’s relative underperformance.
Mr. Tanveer attributed the weak export efficiency to excessive manufacturing prices, restricted market entry, low productiveness, and insufficient infrastructure.
He harassed that with out pressing reforms, Pakistan dangers lacking alternatives for sustainable financial progress.
“Pakistan’s exports are dealing with important challenges, and it’s crucial that we tackle these points to unlock the nation’s true potential,” he mentioned.
He known as for a market-determined change price, stronger commerce finance mechanisms, improved logistics and regulatory compliance, and enhanced commerce agreements to spice up exports.
Emphasizing the necessity for an export-led progress technique, Mr. Tanveer urged stakeholders to cut back reliance on imports by making a business-friendly surroundings, investing in infrastructure, and selling innovation and worth addition in export-oriented sectors.
The FPCCI chief known as on the federal government to take concrete and fast measures to revive exports, warning that sustainable financial progress and growth can’t be achieved with out strengthening Pakistan’s export base.
