Pakistan's High Energy, Interest Rates Hurting Exports, Minister Admits

Commerce Minister Jam Kamal Khan admitted that high electricity and gas prices, along with expensive financing (around 12% interest rates), are severely impacting Pakistan's export competitiveness. He highlighted that improving exports requires broader economic and structural reforms, proposing a National Export Promotion Bureau to address these issues. The minister also noted challenges in attracting foreign investment due to the uncompetitive cost structure, citing examples where investors prefer other countries with more favorable environments. Persistent economic challenges and high costs could weigh on Pakistan's economic outlook and PKR stability, potentially influencing local gold prices.

بحوالہ / Source: www.brecorder.com