Saad akhtar
Hassas)_t@yahoo.com
Pakistani economy can improve, but it will require to adopt following suggestions.
1) “Fiscal discipline and debt management”.
Reduce fiscal deficits by curbing non-developmental expenditures and increasing revenue collection through better tax administration.
restructure public debt to reduce reliance on costly external borrowing.
2) “Enhance tax revenue”.
Broaden the tax base by reducing exemptions and addressing tax evasion.Modernize the tax collection system and make it more transparent.
3) “Boost Exports”.
Diversify exports beyond textiles by promoting high-value sectors such as technology, pharmaceuticals, and agriculture.Focus on trade agreements and improve the competitiveness of domestic industries.
4). “Energy sector reforms”
Resolve circular debt issues and invest in renewable energy to reduce reliance on costly imports.
Improve the efficiency of energy distribution and transmission.
5) “Investment in Infrastructure”
Enhance infrastructure to support industries, trade, and foreign investments.Strengthen projects under the China-Pakistan Economic Corridor (CPEC) while ensuring sustainable debt management.
6) “Agricultural productivity”
Modernize agricultural practices to increase yields and export potential. Address water management challenges and invest in irrigation technology.
7) “Focus on human capital development”
Invest in education, skills training, and healthcare to create a more productive workforce. Encourage innovation and entrepreneurship.
8) Political stability and Governance
Ensure political stability to build investor confidence.Strengthen institutions to reduce corruption and ensure accountability.
9) “Foster foreign direct investment (FDI)”
Improve the ease of doing business to attract international investors. Offer incentives for investments in technology, energy, and manufacturing.
10) “Manage inflation and currency stability”.
Implement policies to stabilize the Pakistani rupee and manage inflation to maintain consumer purchasing power.
12) “Challenges to overcome security concerns”.
Continued focus on maintaining domestic peace.
11) Geopolitical pressures Navigate complex international relations effectively.
12) And finally reduction of profit on deposits kept by the people, who kept their money in banks.
By giving above suggestions Pakistan’s economy can improve. Although it’s difficult to implement. Yet it’s to be tried with iron hands.
With a strategic approach and consistent efforts, Pakistan has the potential to overcome its economic challenges and achieve sustainable growth.
LONG LIVE PAKISTAN.
