Agriculture is the backbone of the Pakistani economy. The first quarter of 2016-17 has revealed the poor state of the country’s economy. Agriculture failure is led by a poor cotton crop, sluggish industrial performance, exports continuing to nosedive and imports showing an upward trend. This, plus an unprecedented trade deficit volume, leads to a fall in remittances by 5.4 percent, profit repatriation goes up, debt servicing is on the rise, the galloping debt burden and a large current account gap manifests that immediate action is required to save the country from a financial collapse. So, it’s necessary to think about the enhancement of the agriculture sector in the country because if the former sector gets benefits like easy loans, they can improve a lot. An economic emergency should be declared and a rescue plan should be formulated to avoid a default situation. The years 2017-18 and 2018-19 will be worse unless remedial steps are implemented soon. 


Karachi, November 4.