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March 8, 2018

Our endless deficit

Newspost

March 8, 2018

This refers to the article ‘Alarm bells’ (Mar 4) by Farrukh Saleem. The writer has presented a bleak picture of the country’s current account deficit, budget deficit and the power sector. It is time the government took notice of these serious issues that are destroying the country from within. The current account deficit has surged by 48 percent and now stands at $9 billion in the first seven months of the current fiscal year.

The budget deficit is expected to be over six percent instead of 4.1 percent of the GDP. In the power sector, line losses have surged to Rs360 billion as compared with Rs120 billion in 2013. The circular debt has also once again surged to Rs520 billion. Despite several restrictions, we are still importing unnecessary items that continue to add burden to our national economy. The authorities concerned must pay attention to this poor state and take remedial measures to bring the economy back on track.

Air-Cdre (r) Azfar A Khan

Karachi

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