• Download the Constitution of Pakistan
  • Advertise
WRITE FOR US
Economy.pk
No Result
View All Result
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos
No Result
View All Result
Economy.pk
No Result
View All Result
Home Business

Import-Export Gap: Imran Khan Directs Officials to Control It

by News Desk
September 11, 2021
in Business, New
Reading Time: 2 mins read
Imran Khan on Import-Export Gap
Share on FacebookShare on Twitter

Prime Minister Imran Khan directed the concerned officials to take immediate measures to check the existing import-export gap.

PM Imran Khan issued the direction over a meeting to review measures taken by the government for increasing exports.

PM directed the Commerce Division to present within the next 2 weeks Strategic Exports Framework for approval. So that they can set targets for trade and investment officers posted abroad.

PM said the govt’s priority in terms of increasing exports was the diversification of products and markets.

A $30 billion of exports is achieveable, someone informed the meeting. With a focus on 19 products, $30bn exports is possible. These products come under the areas of IT, textile, medicines, poultry and rice. Also vegetables, dry fruit, leather, salt, marble, ceramics and surgical instruments.

Moreover, The Commerce Division says that consultation with all the stakeholders is in progress. Like industrialists, exporters and relevant government institutions.

Import-Export Gap Increases

In a worrying development, Pakistan’s trade deficit surged to $7.337 billion during July-August period of the current fiscal year (2021-22) as imports outpaced exports drastically, according to a The News report published last week.

The report had stated that the government is left with no other option but to take measures to curtail rising imports otherwise, this yawning trade deficit may start posing risks to worsening the current account deficit (CAD).

The State Bank of Pakistan (SBP) had projected CAD to hover around 2-3% of GDP, equivalent to $6 billion to $9 billion for the current fiscal year. However, independent economists like Dr Hafiz Pasha see the CAD going up to $12-13 billion for the current fiscal year.

The pace at which the trade deficit has widened in just the first two months poses serious threats to the balance of payment position amid chances of stagnation of remittances from abroad.

Tags: ExportsGovernmentImportsImran Khan
News Desk

News Desk

Related Posts

Cotton production surges to over 5 million bales

Cotton production surges to over 5 million bales

Pakistan's cotton production has significantly increased in comparison to the previous season, reaching an all-time high at the end of...

Expected Signing of Over 2 dozen Agreements at the 3rd Belt and Road Forum

Expected Signing of Over 2 dozen Agreements at the 3rd Belt and Road Forum

The third BRF (Belt and Road Forum) to be held in Beijing from October 17 to 18, 2023, is expected...

Significant Drop in Gold Prices in Pakistan

Significant Drop in Gold Prices in Pakistan

There has been a noticeable decline in gold prices in Pakistan, On Wednesday. The rate for 24-karat gold is currently...

Intraday Update: Rupee Maintains Its Winning Streak Against the US Dollar

Rupee sees 20th consecutive gain, settling at 284.68 against US dollar

The Pakistani Rupee continued to gain strength against the US Dollar on Wednesday, rising by Rs.04 to Rs. 284.68 in...

SBP's Interbank Closing Currency Exchange Rates in Pakistan, October 3, 2023

SBP’s Interbank Closing Currency Exchange Rates in Pakistan, October 3, 2023

Pakistani Currency Exchange Rates for Various Currencies on October 3, 2023, as per State Bank of Pakistan (SBP). USD to...

Pakistan mulling to sell Reko Diq shares to Saudi investors

Pakistan mulling to sell Reko Diq shares to Saudi investors

Following the kingdom's interest in the copper-gold mining project, the federal government is considering selling its shares in the Reko...

Next Post
Vegetable vendors transporting their goods

Vendors facing loss as markets are submerged in rainwater

Please login to join discussion

Recent Posts

  • What Material Is the Cricket World Cup Trophy Made of, and What Is Its Value?
  • What is Nipah Virus
  • Chahat Fateh Ali Khan drops ICC World Cup 2023 song ‘Jeeteingay bai jeeteingay’
  • Pakistan launches health card mobile app
  • Cotton production surges to over 5 million bales

Advertisement

Twitter

Economy.pk

Economy.pk is a source of economic, political, business, finance, health and sports updates.

Categories

  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos

Privacy & Legal

  • Privacy Policy
  • Cookies

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin
  • About
  • Advertise
  • Contact

© 2023 Economy.pk

No Result
View All Result
  • VIDEOS
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Middle East
  • Finance
  • Politics
  • Business
    • Economy
    • Finance
    • Entrepreneurship
    • Real Estate
  • Technology
    • Cyber Security
    • Mobiles
    • Social Media
  • Education
  • Sports
  • Life & Style
    • Personalities
    • Art
    • Culture
    • History
    • Entertainment
    • Fashion
    • Food
    • Health
      • Environment
      • Fitness
  • Sponsored

© 2023 Economy.pk