WikiLeaks revealed that Pakistan is part of the Trade in Services Agreement (TiSA) and has the potential to change service economy across the world.
The trade agreement targets to restrict the potential of governments to regulate national services, providing corporations with more control than ever.
In the light of an assessment of the text, the concept behind the trade agreement is to limit the ability of member governments to regulate national services. Foreign corporations are likely to have an alarming volume of liberty to carry out business and the privatization of services across the world could be perceived.
Some of the major points from the TiSA include the following:
- Governments must sign away their rights to select local service providers in fields like broadcasting, education, electricity and sanitation.
- E-commerce could be affected with provisions that breaches net neutrality as well as data privacy.
- Government input in ecommerce activities like settling size and growth limits will be restricted.
- Reforms to liberalize trade in all sectors including banking, financial, e-commerce, health, transport, and consulting.
As revealed in the report, the services comprise 53% of country’s economy and the TiSA will have a great impact how they are carried.