Govt urged to enhance exports as trade deficit widens by 32%

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Karachi

As the Pakistan’s trade deficit has widened by 32 percent to $2.683 billion in Dec, the businessmen on Sunday urged the government to focus on further enhancing exports, because the declining imports have now started picking up, indicating the growing economic activities but signaling the widening of trade deficit too which is not good for the economy.
Former President Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Mian Anjum Nisar, who is also the Businessmen Panel Chairman, stated that Pakistan’s trade deficit widened nearly one-third in Dec 2020 despite a much-trumpeted increase in export but it was not sufficient to match the surge in imports that jumped to $5 billion.
He said that the economic managers were boasting of their performance on the plea of current account balance, increasing to $447 million in Nov 2020 for the fifth month in row. —INP