PAKISTAN OUT OF COVID! NO MORE ECONOMIC ISSUES.
As COVID-19 has effected the world severely. But, due to anonymous reasons, the virus behavior in the sub-continent is quite satisfactory. Pakistan is one of those countries that have a low death-rate which is 2.1%. It is also one of those countries that are recovering at a very good pace of 62%. Before COVID-19, Pakistan economy was not doing well. There were some improvements in the economy because of some strict rules and regulations which results in collecting more revenues(taxes). At this level, exports were increasing and imports were decreasing. Foreign Direct Investments were increasing which lessens the Trade deficit. But, this virus gave a serious break to the cycle.
COVID-19 smashed the world economies. It exposed their shortcomings and flaws. And Pakistan in this all case, is a developing country. Industries shut down, roads became empty, everyone was quarantined which caused a massive scale of unemployment. Fortunately, Pakistan economy is improving, although — these days are sort of dark hour, but many good days are coming. Pakistani economy is slightly getting out of the crises. Businesses are reviving. Many companies are getting the orders. According to Abdul Razak Dawood who is an advisor for Commerce, Textile, Industry and Production, and Investment; This economic year Pakistani exports reduces by 7%. Relatively in India and Bangladesh, it has lessened to 14% and 17%.
In recent days, famous brand Hugo Boss places the very first order of sportswear to a Pakistani company. A Pakistani famous company DG Cement gets export orders from the Philippines. Dawlance is also going to export microwave ovens to Bangladesh. Business pattern in stock exchange market these days is also good. 100 index is between 272 points bandwidth.
PAKISTANI TOP PERFORMING EXPORT PRODUCTS:
1. Readymade Garments
2. Knitwear
3. Basmati
4. Vegetables
5. Meat…
PAKISTANI TOP DECLINING EXPORT PRODUCTS:
1. Wheat
2. Petroleum Products
3. Petroleum Crude
4. Oil, seeds, nuts and kernels
5. Food items…
The government should work on these product qualities and policies.
PAKISTAN’S TOP EXPORT DESTINATIONS AND INCREASE IN EXPORTS WITH THESE COUNTRIES IN COMPARISON WITH 2018–2019:
1. UAE: There was an increase of 54% export in 2019–2020 with Pakistan
2. USA: There was an increase of 4% export in 2019–2020 with Pakistan.
3. Netherlands: There was an increase of 17% export in 2019–2020 with Pakistan.
4. China: There was an increase of 9% export in 2019–2020 with Pakistan.
5. Germany: There was an increase of 11% export in 2019–2020 with Pakistan…
PAKISTAN’S TOP DECLINING EXPORT DESTINATIONS AND DECREASE IN EXPORTS WITH THESE COUNTRIES IN COMPARISON WITH 2018–2019:
1. India: There was a decrease of 97% export in 2019–2020 with Pakistan.
2. Afghanistan: There was a decrease of 13% export in 2019–2020 with Pakistan.
3. Viet Nam: There was a decrease of 32% export in 2019–2020 with Pakistan.
4. Korea (South): There was a decrease of 23% export in 2019–2020 with Pakistan.
5. Indonesia: There was a decrease of 32% export in 2019–2020 with Pakistan…
Big Diamer Bhasha dam is under construction. Massive Incentive Package for Construction Industry has been announced. Tourism is considered to be made to the top industry in Pakistan. Ehsaas Emergency Cash Program is operating and 12 million families are given the help in this need of the hour. COVID-19 relief fund in bills is made for people ease. Pakistan gained a spot in a few countries that use all locally made medical accessories like masks, testing kits, and now even ventilators. NRTC Haripur is the first organization in Pakistan that produces Safevent SP 100 and can produce 250–300 portable ventilators.
Global Passport Power Ranking improves some ranks of green passport. Though, PIA is banned by many countries due to the fake license scandal. These are some efforts towards good results. But, these are not just enough for now. As Pakistani Rupee is devaluating every day. We have to tackle this situation which is not a bed of roses. The government should take strict actions for economic stability and the nation should also co-operate.
I hope Pakistan one day will be on the list of developed countries. Amen! Pakistan Zindabad!
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