Lahore: Professor Azam Amjad Chaudhry delivered an in-depth lecture at the National School of Public Policy, focusing on the intricate relationship between economic policies, trade dynamics, and public policy formulation in Pakistan. As the World Trade Organization (WTO) Chair for Pakistan, Professor Chaudhry addressed critical economic factors impacting the country’s macroeconomic stability, with a particular emphasis on trade tariffs, price elasticity of demand, and the role of technological advancements.

According to Lahore School of Economics, Professor Chaudhry highlighted the country’s ongoing struggle with balance of payments constrained growth. He pointed out that structural weaknesses in Pakistan’s export and import sectors restrict sustainable economic expansion. As the economy grows, imports tend to increase at a higher rate than exports, leading to imbalances that hinder long-term growth. This issue, compounded by a narrow export base and inelastic demand for imports, results in economic vulnerabilities.

The lecture also examined the implications of the Pak-China Free Trade Agreement and its Phase II negotiations. Professor Chaudhry provided an analysis of the trade agreement’s effects on local industries and Pakistan’s trade balance, noting how the reduction of tariffs has left the domestic market exposed to a surge in imports from China without a corresponding rise in exports.

In conclusion, Professor Chaudhry underscored the need for policy interventions aimed at broadening Pakistan’s export base, improving technological integration, and promoting economic stability through strategic trade policies.