Page 37 - CMA Journal (Sep-Oct 2025)

Focus Section

Recommendations and Future Directions process, organizations can also play a pivotal role in
achieving this milestone, as they can rapidly adopt these
Pakistan needs to implement a few key recommenda-
policies and assist the state in their implementation.
tions to foster sustainable economic development.
However, the primary focus of the government remains
Pakistan can compete globally in the industrial sector by
on trade and tariff reforms for 2025–2030. These reforms
reforming tariffs on industrial components and materials
will enhance overall productivity, attract investments,
(Zeshan, 2025). The IMF and World Bank are also assisting
and promote globalization.
Pakistan in reforming efficient trade and tariff policies for
2025–2030. Rationalization and facilitation of tariff struc- On the other hand, the state should also consider short-
tures and promotion of export-oriented growth are term factors associated with policy implementation. It
fundamental suggestions that should be considered. should focus on trade balances, state revenue, and
Moreover, institutional reforms and regional integration competitiveness across different sectors of the econo-
are also essential for improving tariff mechanisms in my. The state can analyze and determine the overall
Pakistan. Industrial growth would play a critical role in impact of implementing the trade and tariff policy
achieving sustainable development goals. 2025–2030 through foreign currency policy, rules and
regulations, and the effectiveness of short-term
Historical data and current scenarios clearly show that
measures. Pakistan's sustainable economic develop-
there is a need to implement rational policies of trade and
ment will depend on the successful implementation of
tariffs after reforms, involving other major sectors of
the policy. Therefore, Pakistan needs to revolutionize
Pakistan. Green industrial policy, digitalization of trade
the industrial as well as service sectors to achieve
platforms, global chain integration, and the involvement
sustainability, and these reforms have the potential to
of public-private sectors are essential prospects to
be crucial for long-term goals.
achieve the primary goal of the economy and sustainable
industrial growth. Moreover, upgrading customs References
mechanisms and payment channels, along with
• Awasthi, R., & Engelschalk, M. (2018). Taxation and the shadow
establishing independent tariff monitoring authorities, economy: how the tax system can stimulate and enforce the
would help tackle corruption and fraud, ultimately formalization of business activities. World Bank Policy Research
leading to overall economic growth. Working Paper, 8391.
• Delechat, M. C. C., Melina, M. G., Newiak, M. M., Papageorgiou, M. C., &
Spatafora, M. N. (2024). Economic Diversification in Developing
Countries: Lessons from Country Experiences with Broad-Based and
Industrial Policies. International Monetary Fund.
• Mufti, A., & Ali, I. (2024). Export-led growth: Policy framework for
sustainable development in Pakistan. Available at SSRN 4890578.
• Parnell, J. A., Long, Z., & Lester, D. (2015). Competitive strategy,
capabilities, and uncertainty in small and medium-sized enterprises
(SMEs) in China and the United States. Management Decision, 53(2),
402–431.
• Rosenfeld, S. A. (2017). Competitive manufacturing: New strategies for
regional development. Routledge.
• Ur Rehman, H. S. (2023). Analyzing the Political Challenges and
influencing the industrial and economic Policy: A study based on
Pakistan's Economy.
• Zeshan, M. (2025). Balancing Trade and Competition in Pakistan. The
Conclusion Pakistan Development Review, 64(1), 25–52.
Pakistan's economic development faces several hurdles
About the Author: Dr. Abubakar Khaliq holds a Ph.D. in
on its path to sustainable growth. Numerous
Management Sciences (Finance) from COMSATS University
shortcomings need to be addressed or mitigated. The
Islamabad, an M.Phil. in Finance from Hailey College of
country has experienced a massive decline in its exports,
Commerce, University of the Punjab, and a Master's degree in
foreign investments, and overall economic growth, Political Science. He serves as a Research Assistant at COMSATS
resulting in the failure of trade and tariff policy University Islamabad and a Faculty Member at SZABIST
implementations. Therefore, it was necessary to University Islamabad. His research, published in reputed
implement trade and tariff policy reforms in 2025–2026 Scopus-indexed journals, focuses on corporate finance, financial
to prevent further economic deterioration. In this economics, CSR, SDGs, and reverse technology spillover.

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