The economic structure of Pakistan is rattling with trade deficit reaching $6.29 billion, which is 34% more than last year same month. The imports also increased by 14%. Services export fell by 9%. Pakistan is requesting a multi-million loan from Asian Infrastructure Investment Bank worth 55 billion dollars. The stock market is considered one of the key indicators of an economy; Pakistan’s stocks remained at its lowest at 41,000 points.

Overseas Pakistanis play an important role in economy through remittances. Remittances in Pakistan decreased to 4600 USD Million in the first quarter of 2017. The inflow of remittances sent by overseas Pakistanis declined by two percent to $10.94 billion during first seven months of current fiscal year as compared with $11.15 billion in the corresponding period of the last fiscal year, according to data released by State Bank of Pakistan (SBP). Charily there is a lack of trust by our fellow countrymen and foreign investors on our economic planning and investment rate of return.

The giant loss making public sector bodies like Pakistan Steel and PIA are adding fuel to fire. These indicators of economic growth are not encouraging at all, the public sector of planning and development needs to be aware that with trajectories like this Pakistan-will-default on debt payment, once that is done the economic noose will tighten and the lavish public sector expenditures will have to be reduced to the hall of shame, so instead why not reduce them now and save the country name? Let’s be mature and at least privatize the loss making entities.

ABU REHAN,

Islamabad, September 12.