Because domestic industries are not protected,energy costs are increasing, and import duties are too high, Pakistan’s exports have been losing international market share very quickly and imports are increasing.
Representatives of different chambers of commerce and industry of the country have informed the Senate Standing Committee of Commerce about the negative trade picture. They asked the government to take immediate steps to make trade compatible at the international level to earn foreign exchange and reduce the trade deficit .
Pakistan’s exports are currently valued at around US dollars 21 billion, imports are more than US dollar 45 billion.
Referring to the projects of China Pakistan Economic Corridor (CPEC), an industry spokesman said that domestic industry will suffer and Pakistan’s import bill will be further increased.