Pakistan’s trade deficit has risen to 35 billion, which is expected torise to 50 billion by the end of this fiscal year, according toreports.
According to the news agency Jang, there is an urgent need to banimports of luxury goods, as foreign exchange reserves have dwindled toless than 12 billion.
The newly elected government has been asked to adopt an importcompression policy to help curb falling rupee, declining foreignexchange reserves, trade deficit, rising inflation and debt.
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Dr Ashfaq Hassan Khan, dean of the National University of Science andTechnology, who served as economic adviser to the PTI government, saidthat if the deficit continued to rise, the situation would be evenworst. .
