‘Trade imbalance reversing gains’

LAHORE: Trade imbalance and rising foreign debts are reversing the economic gains and situation would be more critical if immediate controlling measures are not taken.
In a statement on Monday, LCCI President Malik Tahir Javed, Senior Vice President Khawaja Khawar Rasheed and Vice President Zeeshan Khalil said that the country made a good economic progress in recent past, but swelling trade deficit and debts put a reverse gear and are posing serious challenges to the economy. According to a report, the trade deficit has widened $12.13 billion in the first four months of the current fiscal year, despite 10 percent growth in exports during the same period, they said.
The LCCI office-bearers said the issue of huge trade imbalance could only be tackled by enhancing exports and all other ways like imposition of regulatory duty are wastage of time.