TEXT: Pakistan can achieve economic prosperity by promoting "Make in Pakistan". The Country is facing trade deficit since a very long time due to its reliance on imports to meet the domestic demand.

Pakistan has prematurely deindustrialized due to many reasons. Our flawed taxation policies including custom duties, smuggling, under invoicing and mis-declaration are just a few examples. Our investment to GDP is one of the lowest in the region.

Due to an inefficient energy infrastructure, the industrial sector is facing high tariffs, unannounced load shedding and gas outrages which has made local industries uncompetitive.

The Government of Pakistan needs to prepare a comprehensive long-term industrial policy to promote "Make in Pakistan". The Country is blessed with abundant natural resources, fertile land and minerals. The right policy will help us to unlock our true potential, which will lead to prosperity and self-reliance.

Copyright Business Recorder, 2020