Mr. S. M. Tanveer, leader of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), has expressed serious concern over Pakistan’s growing dependence on remittances and debt-driven consumption instead of exports as the foundation for economic growth and development.
In a statement, Mr. Tanveer highlighted the structural challenges facing Pakistan’s export sector, noting an estimated $60 billion gap in unrealized export potential.
He pointed out that Pakistan’s export-to-GDP ratio has declined sharply—from 16 percent in the 1990s to 10.4 percent in 2024.
Comparing Pakistan’s performance with regional competitors, he said Vietnam’s exports account for 95 percent of its GDP, while Bangladesh stands at around 20 percent and Thailand at nearly 60 percent, underscoring Pakistan’s relative underperformance.
Mr. Tanveer attributed the weak export performance to high production costs, limited market access, low productivity, and inadequate infrastructure.
He stressed that without urgent reforms, Pakistan risks missing opportunities for sustainable economic growth.
“Pakistan’s exports are facing significant challenges, and it is imperative that we address these issues to unlock the country’s true potential,” he said.
He called for a market-determined exchange rate, stronger trade finance mechanisms, improved logistics and regulatory compliance, and enhanced trade agreements to boost exports.
Emphasizing the need for an export-led growth strategy, Mr. Tanveer urged stakeholders to reduce reliance on imports by creating a business-friendly environment, investing in infrastructure, and promoting innovation and value addition in export-oriented sectors.
The FPCCI leader called on the government to take concrete and immediate measures to revive exports, warning that sustainable economic growth and development cannot be achieved without strengthening Pakistan’s export base.