PML-N president Shahbaz Sharif has said surge in trade deficit by more than 5 billion dollars this month is sign of economic disaster. <\/p>\n
\u201cThe trade deficit has reached record level of 20.648 billion dollars in the five months of this fiscal year\u201d, he said this in a statement here Wednesday. <\/p>\n
Record increase in trade deficit is clear proof of imbalances between imports and exports, he remarked. <\/p>\n
The latest statistics are telling the inflow of dollars in the country has decreased. Pressure is mounting on the value of rupee due to which its value is persistently lowering, he held. Dollar has crossed Rs 180 level. <\/p>\n
The inflation is rising unabated and these are not good news for the country, he cautioned. <\/p>\n
The national economy is in reverse gear, he said adding economy, industry, business, trade and employment are in miserable condition. Uniform application of 17 percent GST on more than 100 goods will escalate the price hike. <\/p>\n
GST is reduced in the world if inflation and or price hike is on rise but in Pakistan it is going reverse. This step by the government will give rise to catastrophic consequences. This move means that government could not broaden tax net. This is another U-Turn by Imran Khan from his claim that he would increase revenue two folds. But he has failed. <\/p>\n
Government itself is admitting that prices of SPI or essential commodities have been already increased 19.5 percent, he remarked. <\/p>\n
He underlined that finance minister is giving contradictory statements about increase and decrease in inflation. Some time it is said Pakistan is the cheapest country in the world and some time burden is shifted to international situation. <\/p>\n
Government should step down instead of imposing mini budget or playing with the future of the country, he demanded. <\/p>\n","protected":false},"excerpt":{"rendered":"
PML-N president Shahbaz Sharif has said surge in trade deficit by more than 5 billion dollars this month is sign of economic disaster. \u201cThe trade deficit has reached record level of 20.648 billion dollars in the five months of this fiscal year\u201d, he said this in a statement here Wednesday. Record increase in trade deficit […]<\/p>\n","protected":false},"author":2,"featured_media":213485,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[441,1136,361,174],"class_list":{"0":"post-234357","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-top-news","8":"tag-dollars","9":"tag-economic","10":"tag-shehbaz-sharif","11":"tag-trade"},"yoast_head":"\n