Pakistan’s balance of payments crises are unlikely to be resolved through short-term fixes like import bans, which have only disrupted industries and constrained economic growth.

A sustainable solution requires boosting industrial production, diversifying exports, and reducing reliance on imported fuel through energy efficiency and renewable investments.

Strengthening foreign exchange reserves, improving trade competitiveness, and fostering a transparent policy environment will help attract investment and stabilize the external sector.

Equally important is a shift in economic behavior—balancing consumption with productivity. By prioritizing long-term structural reforms over reactive measures, Pakistan can build a resilient economy capable of sustaining growth and reducing external vulnerabilities.

Pakistan’s external sector is under severe strain, with a persistent balance of payments crisis driven by chronic trade deficits, external debt pressures, and a volatile exchange rate. Past stabilization measures, such as import restrictions, have largely resulted in economic contraction rather than meaningful correction.

A fresh approach is required—one that moves beyond short-term fixes and focuses on strengthening industrial production, attracting foreign direct investment, and rationalizing fuel consumption to enhance productivity and exports for sustainable stability.

At the heart of Pakistan’s external vulnerabilities lies a structural trade imbalance, where exports remain stagnant while import dependency rises.

The manufacturing sector is skewed toward low-value-added products such as textiles and agricultural commodities, while global markets demand high-value manufacturing and services trade—areas where........

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