Pakistan’s economy has taken a battering in recent years
SHIKARPUR: Pakistan’s economy has taken a battering in recent years. The country currently is reeling from the effects of a grave trade deficit. The fiscal year 2017-18 unveiled the most appalling picture of the economy. The recent economic survey report shows that the country exported goods worth $23.2 billion and imported goods worth $60.9 billion. This imbalance resulted in $37.7 billion trade deficit and reduced our foreign exchange reserves.
This is in spite of the fact that Pakistan is among countries which are rich in natural resources. The country has long faced trade deficit. The country produces rice, leather, fish, vegetables, cotton, knitwear, bedwear and other commodities in large quantities which can earn a fairly good amount of foreign exchange.
The new government should act to correct the trade imbalance. CPEC projects would also help in improving our ecomomy, so work on them should be expedited.
Wajahat Abro
Published in The Express Tribune, September 25th, 2018.
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