This report is part of a series of policy reports. PRIME Policy Report is a monthly publication that provides actionable intelligence at both micro and macro levels of the economy. Each report is segmented into: Business Climate Review, Market Analysis and bird-eye view of major Economic Indicators. It is a one stop information hub for business leaders, SMEs, Corporations, trade commissioners, MNCs, Institutions and Individuals aspiring to understand the policy dynamics, business prospects and interpretations of key economic indicators.
The report delves into how the inefficient contract enforcement mechanism affects the overall economy and business environment. It presents an overview of the mechanism itself and the major issues related to policy as well as implementation. Simultaneously, detailed reforms are proposed for each problem.
The Business Case Against Free Trade
A Law that Strangulates Business should be Repealed 04 PRIME POLICY REPORT According to a news item (The News, 5th October), Federal Commerce Minister Khurram Dastgir Khan has held business community responsible for the slow pace of trade liberalization. He said, “business community remains resistant to free-flowing trade and fortified against imports.” Mr. Khan also urged the business community to support the upcoming FTAs with Turkey and Thailand. It is obvious why industrialists would resist trade liberalization- they fear losing out their market share. There is no easy answer. While business owners have the legitimate reservations given the situation of electricity and tax policy, and other concerns, we cannot continue supporting them through trade protectionism. Trade liberalization is the only way forward.
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