Nobody has better explained the reasons behind a 20 percent decline in exports for the month of August 2020 than entrepreneur Tahir Jahangir. Writing for Business Recorder, Jahangir has, however, expressed his optimism for country's export prospects for the current month and the rest of the fiscal year 2020-21. He has argued, among other things, "the picture of Pakistan is not entirely bleak. Most of the exporting factories are optimistic. They have orders for September and beyond. The figures for September should normalize if no fresh calamities take place. Unfortunately, we as a country are good at creating fresh disruptions and chopping off our own feet. So unless some completely unforeseen events disrupt our economic life September figures for exports should go back to normal." No doubt his is a highly informed perspective on this area of economic activity. There are people who criticize, object to and oppose anything that the government achieves insofar as country's economy is concerned. An historic decline in current account deficit is not less than a miracle. Our policymakers are therefore required to ignore the naysayers and persevere.
SOHAIL RANA (LAHORE)
Copyright Business Recorder, 2020