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The Present and Future of Pakistan Trade Industry

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31 Jan 2017
By admin
UK Pakistan

Restricted by hard times but trying to survive and excel in the international market.

Pakistan is a rich country in terms of its agriculture and the hard working industrialists and their employs. The strong knots of Cargo trade between Pakistan and UK are unquestionable. Pakistan is the 24th largest economy in the world still striving hard to live beyond the hardships it has to face due to internal as well as external factors.

From the independence day till now Pakistan has to face many situations where the survival of the country was at question and till now in one way or another the govt. have to attend to these interruptions and the economic or other growth projects have to face a little set back every time, making a big loss of time and a gap between the enhancing of trade processes and policies and meet up to the requirement of the present situation.

 

Internal Situations:

 

A major factor that contributes to the failure of policies and promising words of the leaders is corruption and the terrorism situation Pakistan is facing. These two internal factors  have a great impact on the economic situation no matter how many policies are put to work these two main hinders the work of the govt. sectors. Political instability demoralizes the foreign investment and the nation as a whole have to face the set back.

Although according to a report the corruption rate has improved in the country still more work has to be done in this respect to ensure the security and transparency at the ports and airports for safe and secure and honest clearance of cargo and custom processes.

The custom process of Pakistan is slow and complicated, measures must be taken to ease the duty and taxes and the processes through which one has to go through to collect their valuables.

The terrorism activities that are always hovering like a black cloud on the economy of the country have a major impact on the trading capacity of Pakistan. Pakistan have a much more potential for improving economic situation and making a smooth trade and cargo exchange internationally, but, due to internal destabilizing factors the govt. faces restricted trade activities.

External Factors:

The threat of war from the neighboring country and the external agencies working secretly within the territories of the country disturbs the law and order situation within the region. The heart of Pakistan industry Karachi is always in wore circumstances to not let the govt. concentrate on the implementation of policies meant for the timely completion of projects underway in

concentrate on the implementation of policies meant for the timely completion of projects underway in Karachi port to attract more and more trade and make a positive ground for investments and exchange of goods through cargo.

 Current Scenario:

Apart from all the internal issues Pakistan is striving hard to get out of the current prevailing situation to reach the point where other countries of the developing world stand right now in terms of their economy and trade rate. The recent project between Pakistan and China is considered to give way to economic development and open trade for many countries through Pakistan.

The CPEC project will give way to many new trade opportunities not only with China. It will attract many other countries to invest in Pakistan and prove to be a turning point in the economic standard. The demand of warehousing and storage will improve the section for the need of storing cold and dry cargo, the facilities will further enhance.

The Gwadar port will prove to be a major transshipment hub in the region joining many Asian countries through sea freight facility. It will certainly increase foreign currency income that proves to be a major helping hand for establishing a strong economy to compete in world trade.

 Government Initiatives:

In his recent address the Federal Minister of Government has said that WTO Trade Facilitation Agreement provides an opportunity to lessen the time and cost in the international transportation of goods. Also it will help in improving in the transparency and efficiency of border process that takes a lot of time to be cleared.

Transparency is a key element in assuring clean and smooth trading on the ports. He said that the agreement will soon come into operation by the agreement of every member.

In its second phase the TFA will ensure that the reforms are implemented efficiently and that every business can utilize these reforms for their trade process. Corruption in any form can hinder in the way of economic development in a country and puts a full stop to further reforms. Through ratifying the agreement Pakistan wants to fight this threat that prevails in the country. The trade reforms are expected to increase due to increase in inter and intra-regional trades.

TCS as a promising Cargo Company:

As a representative of Pakistan, TCS has tied knots with UK based Companies to facilitate the people who want to send parcels or cargo to Pakistan. It makes the people to affiliate to the company as it is recognized by them in their mother land and trusted to give the best service. This company started working in Pakistan and has been assigned by the Government of Pakistan for the parcel services for various important documents.

The one living abroad can send any gift or item back home to Pakistan with trust and stress free service. Such cargo companies not only enlighten the image of Pakistan abroad but also bring in business and encourage the foreign investors to set up their business branches in Pakistan.

One way or another Pakistan is striving hard to make the economic situation better for giving its people a better place to live. The government is developing highways and improving the nationwide road system to attract foreign investments in Pakistan.

Every modern facility is now being provided to the business man whether within or outside the country to compete with the emerging trade countries. Pakistan is a peace loving country and as being a linkage between the borders of many countries, a very important land. It is working on establishing peace within and outside its boundaries to have a friendly trade in the world. UK and Pakistan are the oldest traders and as UK has made the knot stronger by offering help in the development projects of CPEC.

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