Bilateral
trade between India and Pakistan is less than one per cent of the
global trade. There are various factors responsible for the restricted
and limited trade between the two nations. India-Pakistan trade is
presently taking place through three channels i.e. informal trade,
third country trade, and official trade. The size of unofficial trade
is more than $ one billion while trade through official channels comes
to around $200 million only. Trade between India and Pakistan should
be liberalized in phases so that the domestic industries, which are
likely to be affected due to Indian exports, get some breathing time
to be able to compete with Indian goods. Liberalization of trade
between the two countries however should be linked with the
liberalization of import policy in India.
PAKISTAN'S
ECONOMY
The continuing drought and water shortage
have taken a heavy toll on Pakistan's economy. The good standing with
international Financial Institutions has not yet helped in reviving
widespread investment nor accelerating the pace of economic activity
to meet the expectations of public at large. The balancing act between
keeping the debt burden under control and achieving a healthy balance
of payments remains the biggest challenge for the economic managers.
TWO
MILLION TREES DESTROYED
A self-destructive
and unchecked environmental degradation threatens the very survival of
human and plant life in Pakistan. According to estimate some 2 million
trees are destroyed each year just to manufacture crude wooden crates
for fruits and vegetables, for both domestic and foreign markets. The
callous cutting of trees on such a grand scale, some 10 million of
them have been destroyed in last 5 years, deprives the air to cleanse
itself, induce rains and serve as storm-barriers jeopardising the
natural balance necessary to support quality human and plant life.
