LAHORE: Pakistan Industrial and Traders Associations Front (PIAF) on Monday urged the government to take measures to control trade deficit.
Talking to the media here, PIAF Chairman Irfan Iqbal Sheikh claimed that trade imbalance i.e., gap between exports and imports, was registered at $1.85 billion in March 2016 against $1.51 billion of February, showing an increase of 22.41 per cent.
Trade deficit, he claimed, was recorded at $16.9 billion during July-March of FY 2015-2016 against $16 billion during the corresponding period of the previous fiscal year.
Quoting the latest data of Pakistan Bureau of Statistics, he said the exports reduced by 12.92 per cent to $15.6 billion during July-March this FY from $17.9 billion of the same months of the last financial year. The PIAF Chairman said electricity cost for industrial production was high in the region and the Prime Minister very kindly announced a relief of Rs 2.50/Unit in electricity bills.
He said the PIAF also welcomed the Prime Minister's announcement for not increasing the petroleum products for the month of May onwards.
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