Trade-with-India argument | Pakistan Today

Trade-with-India argument

This is true as a general rule that a specific industrial policy is needed to kick start and maintain growth momentums in productive capacity of the economy. It has been argued by many economists like, Ha-Joon Chang of Cambridge University that all developed countries have had protection/support systems for priority sectors. Pakistan is a unique case. If Pakistan lowers the tariffs below ASEAN levels, then it can hope for some development. What Pakistan needs is a well-articulated industrial policy with some structures of industrial forecasting, even at the provincial and city level. We are trying to bring in the economics of 80s (much of neo-liberal thought in new bottles) under the so-called new growth strategy for Pakistan.

Babar Nizami

The writer is Chief Operating Officer, Pakistan Today. He tweets at @bnizami.

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