Advise­r worrie­d over low raw materi­al import­s; blames rupee fall, high intere­st costISLAMABAD: Though the government is boasting of slashing the trade deficit, a decline in the import of raw material has sparked fears of a slowdown in industrial production in coming months. He acknowledged that the reduction in industrial raw material import was not a good thing for the national economy. Several factors were behind the low imports, especially the reduction in auto sector’s production levels, he said. The trade deficit came down to $5.72 billion from $8.79 billion in the first quarter of previous year. Exports stood at 1,769 million in September 2019, a growth of 2.67% over exports of $1,723 million in the corresponding period of last year.

Source: The Express Tribune October 16, 2019 02:37 UTC