APBF expresses concern over soaring trade deficit
The Pakistani rupee has weakened around 10% against the dollar since December last year
PHOTO: EXPRESS
LAHORE:
The All Pakistan Business Forum (APBF) has expressed concern over the alarming rise in the trade deficit, which widened to almost $30 billion during the first 10 months of the current fiscal year.
Only a recovery in exports would ease pressure on the external sector, said APBF President Ibrahim Qureshi, who said that policy intervention has started yielding positive results but a lot more still needed to be done.
APBF foresees massive boost for IT industry
The Pakistani rupee has weakened around 10% against the dollar since December last year. This has given exporters an opportunity to improve their global competitiveness. The government also imposed regulatory duties on hundreds of non-essential imports late last year. The APBF president expected the current account deficit to reach $17 billion in the outgoing fiscal year, advising the government to take measures to avoid depletion of foreign currency reserves.
Published in The Express Tribune, May 19th, 2018.
The All Pakistan Business Forum (APBF) has expressed concern over the alarming rise in the trade deficit, which widened to almost $30 billion during the first 10 months of the current fiscal year.
Only a recovery in exports would ease pressure on the external sector, said APBF President Ibrahim Qureshi, who said that policy intervention has started yielding positive results but a lot more still needed to be done.
APBF foresees massive boost for IT industry
The Pakistani rupee has weakened around 10% against the dollar since December last year. This has given exporters an opportunity to improve their global competitiveness. The government also imposed regulatory duties on hundreds of non-essential imports late last year. The APBF president expected the current account deficit to reach $17 billion in the outgoing fiscal year, advising the government to take measures to avoid depletion of foreign currency reserves.
Published in The Express Tribune, May 19th, 2018.