Trade deficit of $13 billion has reportedly been estimated during the current financial year due to $55 billion worth of imports and $24 billion worth of exports. It can save close to $3 billion on account of automobile imports alone by introducing quotas. He called for drastically cutting unnecessary imports and increasing exports to improve the current account deficit, which is going out of control. The government’s external borrowing has crossed $35 billion in the last five years, which also included $7 billion from commercial banks. Will the new government be able to deliver in the presence of multi-dimensional economic and financial challenges?

Source: The Express Tribune April 09, 2018 04:18 UTC