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Pakistan’s trade deficit for 2016-17 reaches all time high

All Pakistan Textile Mills Association (APTMA), Sindh-Balochistan Region has revealed that the trade deficit for the fiscal year 2017-18 has reached an all-time high at $36 billion, imports are around $60 billion while exports are around $23.5 billion. The Current Account Deficit for the year 2017-18 is also at an all-time high at $18 billion. In addition the government has to pay $38.224 billion and Rs 15.883 trillion against external and domestic public debt respectively including principal amount and interest in the next seven years.

To increase exports therefore, the PTI government led by Imran Khan should address major odds hurting the industry and exports such as high cost of doing business, availability of energy both gas and electricity at an affordable price as compared to our regional competitors, adequate supply of raw cotton, timely payment of sales tax and income tax refunds to avoid liquidity problem, rupee dollar parity, shortage of skilled manpower, lack of institutional support/infrastructure facilities, etc.

 

 
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