The government informed the National Assembly on Wednesday that it would substantially cut the import of non-essential items to contain the growing trade deficit in the current fiscal year. This was stated by commerce minister Makhdoom Amin Fahim, while speaking in the National Assembly. He was responding to issues raised by parliamentarians after they submitted a calling attention notice.
The calling attention notices, which were moved by MNAs Rana Mahmood-ul-Hassan, Mian Marghoob Ahmad, Nisar Tanveer, Hmair Hayat Khan Rokhri and Muhammad Afzal Khokhar, invited the attention of commerce minister to the growing trade deficit in 2008-09.
The minister said that during the last fiscal the wheat was exported at lesser prices. When there was wheat shortage in the country, the government had to import the principal food grain on much higher prices, he added. This was one of the major factors, which caused a huge imbalance in country's trade.
The minister said that steps were being taken to increase the country's exports. "We are talking with different developed countries in Europe to give us more market access," he added. Our negotiations with Sweden are at very advanced stages, Fahim said. He informed the House that Pakistan exports in the first five months of the current fiscal is 12 percent higher over the exports in the same period of the last fiscal. We hope that exports target of 22.1 billion dollar will be achieved, he added.
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