Mending Pakistan Economy, Trade Deficit

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It is really heartening to see Pakistan got the huge deal signed with Russia, which open opportunities for Pakistan. It will not only impact the industrial growth, but will provide the support to level the electricity production, gas to houses. This will reduce the import bill of petroleum, till the oil city dream of government becomes reality.
However the completion of both project oil city in Balochistan and Pakistan Russia pipeline will be almost more or less same. The agreement with Russia is signed where oil city project inking will be decided during Saudi Arabian delegation arrival in October 2018.
But the current situation will remain the same till these things mature.
Here one should not ignore that the current Government has either good or bad credibility history at this point of time. There is no doubt of cricketer Imran Khan but the Government is not all about one person. The credibility of the Government will be of all ministers, bureaucrats, advisers not only Imran Khan.
The big projects and their transparency will prove the Government’s credibility.
There will be scrutiny on their timing of decision making, for instance the Government has signed the biggest ever deal with Russia, the projects will take 3 to 4 years time to complete. However the Government should have or should be looking at the projects to get the relief in shortest possible time. It doesn’t mean they should not be looking for long term projects.
The projects have already been initiated or half done should be given priority. This does not seem as easy as it appears to be, the Government should consider the Iran Pakistan gas pipeline, and this project was initiated but due to different political reasons has been delayed. Even at this stage if Government can manage this project to complete without hurting our relations with Kingdom of Saudi Arabia since KSA have political differences with Iran bearing this in mind the Government can work out the way to get this project flying. This way the immediate shortfall of 4 million cubic feet can be overcome with 40 billion cubic meter supply of gas from Iran-Pakistan gas pipeline. This project should also be through the lens of Pak-USA relationship, as USA President hardened his stance on Iran. Although USA decision will impact the global shortfall in oil supply resulting in continuously increasing oil prices, currently it has reached four years high and expected to cross $100 after further stricter sanctions in November 2018. This will be a tricky situation as the US President will be going through midterm elections during the same period.
The Government has to keep our foreign office abreast with development on the European Union find new payment method to keep payments to Iran on the go. If Pakistan go with the Iran-Pakistan gas pipeline it might be the option it can be part of this payment system.
The need of the hour for Government is to maximize the avenue to build exports, to make the maximum of GSP+ status for European Union.
The Chinese delegation is coming to Pakistan for discussion on trade gap that is in big tilt in favor of China. China is expected to

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