UBG Chief Flags $10.8B Trade Deficit, Warns of FX Reserve Pressure

United Business Group President Zubair Tufail highlighted Pakistan's trade deficit hitting $10.8 billion in the first quarter of the current fiscal year, despite significant export growth. He warned that rapid import expansion poses a major challenge, risking increased pressure on foreign exchange reserves and external payment obligations. Tufail called for a comprehensive strategy to reduce production costs, facilitate industrial imports, and expand exports beyond textiles, proposing an "Export Growth Roadmap" with the SBP and private sector. A persistently widening trade deficit could weaken the Pakistani Rupee, potentially pushing up local gold prices.

بحوالہ / Source: www.brecorder.com