Pakistan Economic Crisis: Pakistan’s economic condition is deepening. Trade deficit imports are increasing, which has reached 44 percent. In such a situation, the ministers of Pakistan are making various statements to hide this weakness of their country.
Pakistan Trade Deficit: Pakistan, which gives a jackal to India, seems to be passing through economic surety at this time. Trade deficit imports are increasing rapidly, which has reached 44 percent. Pakistan’s economic condition is already very weak. After this, now this new problem seems to be standing for Pakistan. This crisis on Pakistan’s economy has been termed as a temporary decline by Planning Minister Ahsan Iqbal. He says that raw materials are being imported more at this time, due to which exports will increase and the deficit will be reduced.
At the launch of the first monthly development report of the Pakistani government, Iqbal insisted that Pakistan’s exporters can benefit from US tariff rates, but only when they manage to enter international markets, which is still not decided. The increase in Pakistan’s deficit increased the trade difference to $ 2.7 billion in July, which is 44 percent higher than the same month of the previous year. This deficit to Pakistan occurred when the government reduced the tax on imports according to the terms of IMAP and World Bank.
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Officers trying to hide Pakistan’s loss
Efforts have been made by Pakistan officials to explain the reason for the sudden increase in imports. According to him, earlier companies were thinking before importing goods because there was more tax at that time. When the tax decreased in the new financial year, he imported more goods, due to which there was an increase in imports. It has been claimed by Iqbal that exports have increased by 17 percent in the month of July, which has improved economic conditions. Amidst all this, exports to Pakistan reached $ 2.7 billion in July, which is an increase of 16.9 percent as compared to the previous year, while the remittance increased by 7.4 percent to $ 3.2 billion. The Government of Pakistan gives its credit to the strengths from outside countries.
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