Cited by the World Bank as “the top reformer
in its region and in the top 10 reformers globally”, Pakistan’s
economy continues to perform a commendable growth as outcomes
of its past fiscal year indicate a Foreign Direct Investment (FDI)
of approximately US$5.1 Billion, contributing to an increase in
its annual growth rate of 6.6% in GDP for the last five years.
Clearly, these results show a strong confidence of players, both
local and foreign, in the resilience of Pakistan’s economy amidst
a series of domestic and external events of an unprecedented nature.
This impressive performance in the economy says
so much about the structural economic policies that the Government
of Pakistan has outlined and pursued relentlessly in order to
restore macroeconomic balance and to improve the overall economic
environment. Through prudent fiscal, monetary and exchange rate
policies, financial discipline and consistent and transparent
economic policies, a wide range of reforms was introduced in the
areas of taxation, trade and tariffs, banking and finance, industry
and agriculture, deregulation and privatization, fiscal transparency
and governance. Indeed, they know their business more than anyone
else. These efforts gained the interest of world industry leaders
especially on the sectors of textile, machinery and transport
equipment, food technology, minerals and lubricants, chemicals
and manufactured goods like plastic, packaging and printing.
To date, Pakistan is a leading exporter of manufacturing
goods as well as textile to bull markets such as US, UAE, UK and
Germany. It is also a preferred market place for importers from
China, Taiwan, Saudi Arabia, UAE, US and Japan.
Pakistan’s economy is as powerful and strong
as its population of 1.6B. It has gained its bullish momentum,
and there is definitely no stopping it.