Mian Zahid Hussain, President of the Pakistan Businessmen and Intellectuals Forum, expressed serious concern over the worsening economic situation in the country, noting that the trade deficit reached $4 billion in April 2026, the highest in nearly four years. This spike is largely due to a 28% increase in imports, totaling $6.55 billion, driven by rising energy costs amid global oil shocks and conflicts in the Middle East.

While exports grew by 14.03% year-on-year to $2.48 billion, they remain insufficient to offset the import surge. The cumulative trade deficit for the fiscal year has risen over 20% to $31.98 billion. Issues such as declining global commodity prices and regional competition are further straining export revenues.

Hussain highlighted the threats to foreign remittances posed by geopolitical tensions and the expulsion of Pakistani workers from the Gulf, which could affect vital monthly inflows. He warned that foreign exchange reserves are under pressure and the economy risks a precarious position without urgent reforms.

To tackle these issues, he proposed a strategy focusing on energy security, incentives for the textile sector, and the exploration of new markets in Central Asia and Africa. He called for a high-level economic task force to negotiate better terms on external debt and protect Pakistani laborers abroad. Hussain emphasized the need for an export-led growth model to break the cycle of deficits and debt.