President Korangi Association of Trade and Industry (KATI) Salman Aslam welcomed the decrease in the current account deficit to 700 million dollars last month. He said that the current account deficit decreased by 19 per cent in August compared to July, which is a major achievement of the government.
Salman Aslam said that this deficit was 1.52 billion dollars in August 2021, which has now been reduced to half.
President KATI stressed that the exporters are still facing difficulties in exports, production costs, and LC problems, including shortage and increased prices of electricity, petrol, gas and water are also adding to the problems due to which the country’s exports are not growing significantly.
The government has eased the import ban, after which there is a fear that the deficit may rise again. In such a situation, the government should formulate a policy in consultation with the exporters and stakeholders so that the country’s exports can be improved, which not only further decreases the current account deficit, but the income of the country increases, resulting in a stable economy.