World Bank in its recent report “Pakistan Development Update”, has revealed that given Pakistan’s observable characteristics in terms of economic size, level of development, remoteness, and factor endowments, Pakistan’s potential annual exports are at $ 88.1Bn, about 4 times the actual current level. The report said that the opportunity cost of Pakistan’s “missing exports” is estimated at 893,000 jobs and $ 1.74Bn in foregone taxes. Of these, 152,000 jobs could be created in the agriculture export sector, and 741,000 jobs could be created in the manufacturing export sector.
8/4/2021