To achieve diversification, Pakistan has to make inroads into the medium and high-end technology spectrum of products which consists of products such as electronic goods, automobiles, engineering goods etc. and to look for newer markets.
Third, while financial system’s depth and breadth has increased, there is continued excessive reliance on banking system; as such there is need for exploiting alternative sources of funds, particularly sources for meeting long term financing needs are yet to be developed. In this regard, Pakistan needs to develop long term bond market particularly corporate bond market and further strengthen its equity markets.