My 2 cents on economy : Pakistan exports are showing downward trend with 1.2 B $ deficit compared to last year (6 month projected) . After Wagha border incident , Afghanistan Pakistan border has been closed which caused our exports to Afghanistan, eastern europe and Russia at halt. Polyester and yarn from china and india is being imported at ever increasing growth , Our textile exports to china and other countries is diminishing ... India is giving 5 % rebate to Indian exporter to Pakistan and same goes to chinas exporter. Anyone in manufacturing sector would know how much 5 % means per transaction means. With so many imports and diminishing exports, it is matter of time the Current account deficit could no longer be manged through remittances, exports and loans .. Ishaq Dar latest statements assures that Pakistan reserves to reach 15 B $ , which maybe a temporary sight as the natural course will take its place if nothing is done about increasing exports and decreasing imports. I wonder for how long Government can maintain its reserves by borrowing further loans!! or we will keep on borrowing ?
Posted on: Thu, 13 Nov 2014 17:59:27 +0000
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