The strong balance of payments headline figures, however, mask the structural weaknesses in Pakistan's export competitiveness. Exports fell by 11.1 per cent in the first half of FY16 as a result of softer global demand and domestic bottlenecks. Port charges in Karachi, for example, are nine times higher than those in Dubai and Singapore.
Pakistan's growth recovery continues to be modest. Growth rate in 2017 is expected to rise to 4.8 per cent, the World Bank has said, and underlined the need for the country to speed up its growth.
Releasing its twice-a-year Pakistan Development Update in Islamabad on Thursday, the World Bank applauded the government for restoring economic stability#
Shipping container dwelling times are three times longer than in East Asia. Exporters who want to participate in global supply chains are hamstrung by these constraints, the report said. (SH)
ALCHEMPro News Desk – India
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