PAKISTAN’S present economic model, distinguished by its dependence on agriculture, textile-dominated manufacturing and remittances, is progressively perceived as unable to address the demands of the contemporary global economy. In contrast, countries like India, Bangladesh and China have adopted more adaptable and diverse economic models, leading to robust growth and progress.

Recently, Pakistan’s economy has grown more slowly than China’s, Bangladesh’s and India’s. Pakistan’s economy, for example, is expected to expand by 4% by 2023, lower than India’s 7%, Bangladesh’s 6.5% and China’s 5.5%. These differences arise because these countries have different economic and industrial approaches. Pakistan was particularly active in its old industries, while India and China spent heavily on new technologies and improved factories. This allows for more creativity and new ideas. Bangladesh has also done well in textile manufacturing, attracting much foreign investment.

Another area where Pakistan’s economic policy exhibits limitations is in its energy sector. Pakistan relies heavily on imported energy which strains foreign reserves and increases its trade deficit. China and India have significantly allocated resources to renewable energy, decreasing their reliance on imports and promoting sustainable development. Bangladesh has also been intensifying its emphasis on renewable energy sources.

Furthermore, Pakistan has a less varied export base than its neighbouring countries. Pakistan’s exports primarily focus on textiles and agricultural goods which are sensitive to fluctuations in global prices and have low value-addition. On the other hand, China’s exports include........

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