This is apropos a Business Recorder op-ed “Economic recovery with high risks” carried by the newspaper last week. The writer, Dr Omer Javed, has argued, among other things, that “Moreover, Pakistan, like many other countries, needs to provide a large amount of fiscal stimulus for both economic growth enhancement, and also for protecting the poor against the ravages of the pandemic and the associated recession, for which once again it would be important to keep interest rates low, as inflation, especially food inflation, starts to rise, as economic activity picks up along with rise in oil prices.”
That the economic challenges facing the country are formidable is a fact. The PTI government appears to be working harder to deal with the seemingly worsening situation. The situation underscores the need for resilient recovery through a strategic strategy that clearly helps the government increase economic activities through higher imports and exports. Higher imports are good for various economies, including Pakistan’s, because of a variety of reasons. Not only does increased growth in imports help the public and private sectors to create new job opportunities, it also helps the government improve tax collections.
Shahid Khan (Islamabad)
Copyright Business Recorder, 2021
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