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Pakistan’s Roadmap to Economic Recovery: Harnessing Agriculture and Expanding Exports

Pakistan, a country grappling with severe financial challenges and a web of debts, is striving to find a way out of this predicament. To tackle these issues head-on, the country’s political and military leadership, along with support from the International Monetary Fund (IMF), are joining forces to provide a critical lifeline. While it is understood that economic challenges cannot be resolved overnight, there are strategic steps that can steer Pakistan towards recovery.

Economic experts unanimously agree that reducing the import bill and boosting exports are crucial for Pakistan’s economic revival. But how can this be achieved? Concrete action plans need to be devised, aligning with a vision that focuses on vital sectors, particularly agriculture. Drawing inspiration from past successes, there are promising examples to emulate.

One such success story is the National Agricultural Research Centre, which has developed a special variety of bananas with an extended shelf life, offering a lucrative export opportunity. Additionally, Pakistani agricultural experts have introduced “Green Super Rice,” which boasts high yields per acre and exceptional quality, positioning it among the world’s finest rice varieties.

Looking beyond rice, regions like Balochistan, Potohar, and Khyber Pakhtunkhwa possess ideal conditions for olive cultivation. Despite Pakistan’s olives being renowned for their superior quality, their export potential remains largely untapped.

Furthermore, Pakistan’s agricultural ingenuity extends to unique varieties like “G1 Garlic,” prized for its size, flavor, and export potential, especially in markets like China. However, farmers face obstacles in accessing alternative markets beyond local bazaars.

Addressing local industries is also crucial. While Pakistan’s carpets are globally in demand, the reliance on Iranian imports poses a threat to the domestic carpet industry’s sustainability. Similarly, while Pakistan’s steel industry has made strides in markets like the US and Europe, other handicrafts struggle to penetrate these markets.

Reviving Pakistan’s small-scale industries is paramount. Establishing industrial zones in cities like Gujranwala and Sialkot, along with providing uninterrupted power supply, can bolster these sectors.

Moreover, leveraging geographical indications (GIs) can enhance the marketability of Pakistani products globally. Efforts to register 200 GIs, including the famous Basmati rice and Khewra Pink Rock Salt, signify a step in the right direction. However, facilitating access to international markets through trade exhibitions is essential for effective marketing.

Events like trade fairs organized under the auspices of organizations like the BRIKS Association offer platforms to connect Pakistani entrepreneurs with global markets, fostering trade, investment, technology transfer, and cultural exchange. Participation in such events holds immense potential for bolstering Pakistan’s economy.

The path to economic prosperity for Pakistan relies heavily on expanding exports. By embracing a comprehensive strategy that harnesses the nation’s agricultural prowess, nurtures local industries, and capitalizes on global trade opportunities, Pakistan can pave the way for sustainable economic growth and resilience.

Source: [MinuteMirror](https://minutemirror.com.pk)