The disasters are coming out of the woodwork one after the other. It is not plain sailing, to say the least. The bilateral trade by road as these two countries’ borders are mainly road-based; therefore the road haulage wise, the export and import businesses are shrinking by the day. Although there is a media report suggesting it is booming, on the contrary.
A big head for both defaulting economies, the people’s misery knows no bounds. In a recent report from their trade bodies, it is publicised that the trade has gone down by more than a billion-dollar.
The diabolical state of the fiscal health of these states is going downhill every day. It is also reported that all these are happening due to miss management, bribery, lack of accountability and many other multi-faceted lackings of both countries.
The imposition of undue double tariffs and dual taxes and duties has caused this downturn. Also, the absence of proper banking facilities is adding fuel to the fire. On the contrary, the trade is shifting elsewhere towards the Afghan – Iran route.
Indian Export Boom in 2022
The economic downturn and slide callipers of Pakistan’s dwindling financial stability seem ever so shaky. It is not throwing any shining light to improve her GDP, and the growth chart will fail to climb upward in the coming days.
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