Share:The 106 percent increase in the trade deficit on a year-on-year basis is a damning indictment of the government’s efforts to balance the national current account. Apart from food, Pakistan has no other recourse than to import both oil and raw materials for key industries. The only thing we can do at this point is to try and bring exports up to speed, something we have often attempted, but failed to see any tangible results in. Raw materials imported for various sectors such as textile and manufacturing must lead to more finished products and an overall increase in exports. It is important to note that the year’s import and export numbers also indicate that the deficit is not likely to be overturned in the coming year.

Source: The Nation January 07, 2022 08:17 UTC