Sunday, 28 November 2021, 11:07:52 pm
Sohni Dharti Remittances Program will have burgeoning impact on the economy of Pakistan and the revenue earned by such steps might cut short our dependence on IMF programs:

Dr. Talat Wizarat: (IR Expert): Sohni Dharti Remittances Program will have burgeoning impact on the economy of Pakistan and the revenue earned by such steps might cut short our dependence on IMF programs. The increase in foreign exchange will eventually strengthen Pakistan's currency value but economic development cannot be instigated on the shoulders of foreign exchange. Pakistan needs to rejuvenate indigenous industrial sector to increase the exports that will ultimately lead to sustainable development  and growth. In the contemporary times, Pakistan cannot afford to boost its exports due to electricity price hike and India enjoys competitive advantage over Pakistan in terms of export oriented industrialization. Thus, there is a dire need to resurrect industrial sector to culminate the issues of balance of trade deficit.