MULTAN:A noted entrepreneur and economic expert Thursday hailed the recent 19 per cent reduction in Pakistan’s current account deficit terming it a good omen for the national economy but stressed on keeping the pattern sustainable to extract maximum benefits.
Former Deputy Governor Rotary Club, Malik Rab Nawaz attributed the positive development to reduction in imports and incremental betterment in exports trend.
He told reporter that importers were not inclined to import due to rising price of dollar while import of big vehicles also recorded reduction due to rise in import duty.
He said that Pakistan’s exports were also not up to the desired level but overall situation was better on the national economic front.
He said that prices of edible oil had also reduced in the international market but added that the country still had stock sufficient for next two months so there would be no need to import edible oil.