Lahore School of Economics

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Is there a future for export-led growth in Pakistan?

Dr Azam Amjad Chaudhry

(The writer is the dean of the faculty of economics at the Lahore School of Economics and the WTO chair for Pakistan)


Pakistan is again in the midst of an economic crisis. The core issues of a balance of payments crisis, a halt in economic growth, soaring prices, increasing employment and rising poverty are interlinked and require fundamental reforms. However, the immediate problem is simple: Pakistan needs to export more and has financed growth over the last few decades with foreign borrowing, which must now be paid back. What should be just as simple is the answer: Pakistan is experiencing an export crisis and urgently needs a coherent policy to boost exports.

The continuous balance of payments problem in Pakistan can be described as a problem of balance of payments constrained growth, which means that whenever Pakistan grows at more than 4% per annum, we import so much more than we export that we run out of foreign exchange reserves. In many economies, this imbalance is made up through remittances or foreign investment. In the case of Pakistan, the former has stagnated and the latter is nonexistent. So, the only solution is to increase exports with a coherent export-based industrial strategy.

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posted by S A J Shirazi @ 5/20/2024 12:15:00 PM,

Punjab Spatial Strategy and its linkages with Industrial Development


Dr. Azam Chaudhry, Professor and Dean Faculty of Economics, gave the keynote presentation on April 13th, 2019 at a session organized by the Punjab Urban Unit titled “Punjab Spatial Strategy and its linkages with Industrial Development." Dr. Chaudhry presented on his extensive research work on the Pakistani textile sector and the purpose of the session was to engage stakeholders in a wide-ranging dialogue and discussion on growth and development priorities of the provincial government and its future strategic direction.
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posted by S A J Shirazi @ 4/18/2019 10:02:00 AM,

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