Action needed: External sector causing problems
Exports, remittances and foreign direct investment are declining while imports continue to increase
ISLAMABAD:
The continued weakness in the external sector may force country to knock the IMF door again as three vital sectors considered important for keeping the forex reserves including exports, remittances and foreign direct investment are declining while imports continue to increase, said Pakistan Businessmen and Intellectuals Forum (PBIF) President Mian Zahid Hussain. “If corrective measures are not taken, the government will have to enter another programme,” he warned. “Massive retrenchment of Pakistani workers in KSA may result in a permanent fall of $2 billion in remittances while their plight will have a negative impact on the economy.”
Published in The Express Tribune, September 3rd, 2016.
The continued weakness in the external sector may force country to knock the IMF door again as three vital sectors considered important for keeping the forex reserves including exports, remittances and foreign direct investment are declining while imports continue to increase, said Pakistan Businessmen and Intellectuals Forum (PBIF) President Mian Zahid Hussain. “If corrective measures are not taken, the government will have to enter another programme,” he warned. “Massive retrenchment of Pakistani workers in KSA may result in a permanent fall of $2 billion in remittances while their plight will have a negative impact on the economy.”
Published in The Express Tribune, September 3rd, 2016.