Pakistan Businessmen and Intellectuals Forum's (PBIF) president Mian Zahid Hussain said here on Wednesday that though an ambitious target of $50 billion has been set in the proposed trade policy, exporters are finding it difficult to compete with other countries for want of enabling policies. "Not a single sector will remain immune form dwindling exports and hence the government should revive this sector on modern lines," he added.
In a statement, the PBIF said that Pakistan was fast losing export market due to want of enabling policies, thereby increasing trade gap which could be disastrous for the country's economy. "The graph of export is showing downward trend and it can be gauged from the fact that the trade deficit in July was 34.62 per cent more than the last July's deficit, whereas annual trade deficit was recorded at $22 billion for the last year despite receding oil prices," he said, adding that the APTMA has projected a fall of four billion dollars in exports and the rice exports situation was far from satisfactory.
Similarly, leather exports are down by 28pc, resulting in massive layoffs, he added. Mian Zahid Hussain further said that exports of fruits and vegetables are also falling.
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