Rising imports to widen trade deficit more
1/23/2012 11:42:26 AM
ISLAMABAD: Pakistan is hit by a burgeoning trade deficit at a time when the country is likely to face numerous problems of external balances, says a report published in Khaleejtimes.com on Monday.
The big question now: Is Pakistan heading towards a record $22 billion trade deficit in the current fiscal-2012 that ends June 30?
Costly commodities and high prices of oil are pushing imports up as exports are sticky and foreign aid inflows are shrinking. The situation only worsenes as nearly $ 4.2 billion foreign debt repayments is scheduled in the months ahead.
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