Trade with India to reduce inflation, increase exports.


Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance and Former Provincial Minister Mian Zahid Hussain on Wednesday said trade with India will reduce inflation in Pakistan.

Direct import of raw material and other inputs will also reduce the cost of production and boost exports, he said.

Mian Zahid Hussain said that the most effective way to provide relief to the people by reducing inflation is not a controversial and impractical package but restoration of trade relations with India.

Talking to the business community, the veteran business leader said that it has been decided to give priority to economics over politics but restoring trade relations with the neighboring country whose economy is double that of Russia remains hostage to politics.

He said that some trade with India is taking place through the UAE, but it increases the prices and makes production and exports more expensive.

Realizing the situation, trade should be opened with India so that the cost of production and inflation in the country can be reduced.

Mian Zahid Hussain said that cotton production has been reduced to eight million bales due to continuous rains and other issues and to make up for the shortfall, cotton is imported from countries like the USA and Brazil which cost billions of dollars, but the neighboring country is ignored.