Malaysian example

January 18, 2020

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APROPOS the news report ‘PM directs commerce officials to set export targets’ (Jan14). There are many success stories in Asia where countries boosted their economies by increasing their export. Malaysia is one example as it turned it fortunes through rapid development of her exports.

The Malaysian government first redesigned its overall economic policy which configured different sectors of its economy. It paid particular attention to the areas where it had a competitive advantage to create a multiplier effect on exports .On the basis of this new economic alignment Malaysia has successfully raised its exports to the $200 billion mark.

Pakistan can learn from Kuala Lumpur’s experience. Islamabad should also focus on sectors where it enjoys competitive advantage. Some of the existing sectors, which are at present small, can be successfully tapped to raise its exports. They are sports goods and equipment, cutlery and surgical industries based in Sialkot, the textile manufacturing in Faisalabad and the agriculture sector.

One feel that the diverse sectors when backed by a well-thought-out and consistent economic policy will produce the desired results for the country.

Sohail Ur Rashid Sarwar

Rawalpindi

Published in Dawn, January 18th, 2020