The Pakistan Bureau of Statistics (PBS) has emanated an export data report that covers a period from July-March 2022-23, disclosing a rise in exports in term of rupee but a decline in term of dollar. The decline in exports in dollars is mainly due to a decrease in the quantity of most items exported under the textile category and lower prices in the international market. However, food group exports, such as rice and fish preparations, have increased, while fruit and vegetable exports have decreased. Other manufactured items, including sports goods, carpets, and leather items, have shown a rise in rupee earnings but again a decline in dollars. It is pertinent to mention that a continuing containment of imports has although lowered the trade deficit but on the other hand has negatively impacted the large-scale manufacturing sector, consequently devastating the economy of the country. Therefore in pure personal view of the author there is little hope for any imminent improvement in the state of the economy, and no policy appears to be in place to create more job opportunities and combat the high rate of inflation.
By Muhammad Adnan Siddiqui