Flawed economic model

This refers to the news report ‘Import policy favours consumers at domestic manufacturers’ expense’ (Mar 30). The said report has unravelled the faulty economic model of the government. It has rightly been asserted that “the tendency to keep supplies of all products stable through liberal imports has played havoc with both manufacturing and the agriculture sector”. While the agricultural sector is bleeding, the manufacturing sector continues to underperform, resulting in declining exports, increasing import bills and the highest ever trade deficit. The government is sacrificing long-term economic stability and sustainability at the altar of short-term expediency from a political perspective.

The country has been turned into a consumer market of foreign goods while domestic investment and production have been ignored. Consequently, the country is surviving on the crutches of lending agencies and is trapped in serious debt. This speaks volumes about the government’s claim of economic turnaround.

Arif Majeed

Karachi