PTI Punjab President Ejaz Chaudhary said due to incompetent and adverse policies of PMLN Government Pakistan???s exports are continuously falling. He said textile sector has witnessed 16 per cent fall in exports in March. Not only textile but also the export of merchandise fell by 13.44 per cent during March 2015 he added. He said the commerce or textile ministries gave no explanation for the continuous decline in exports especially of textiles.He said it seems like PMLN Government has no plan to handle the sinking economy.
He said Pakistan has been restricted to Punjab and Sharif Family only. They made Chinese President visit their family affair he added. He said only building flyovers and underpasses is not the way to progress.
Secretary General Yasmin said under the so-called experienced team of Nawaz Sharif Pakistan???s economy has been performing at a level, which is far below its potential. She said unlike Pakistan???s roller-coaster economy countries in the South Asian region is locking in to steady economic growth.
She said the constant decline in exports and increase in imports have widened country???s trade deficit by 15.42 per cent during July-March 2014-15. She said on IMF loans and signing MOUs Pakistan can never compete in the global markets and so the economic team of Nawaz Sharif needs to re-emphasize an export-led growth strategy.
Information Secretary Andleeb Abbas said Ishaq Dar who has been around for three decades has failed to understand how Pakistan???s economy really works. She said this year Pakistan has produced bumper crops of rice and cotton and despite that current account deficit continuous to rises mainly on account of low exports and increased imports. She said this deficit could be painful for the economy if its size increases at the end of this fiscal year.
She said unfortunately country's economic dependency is solely on foreign inflows and debts while the government is not ready to explore the hidden potential by increasing the exports. What is the use of GSP plus status when the textile industry cannot meet the orders due to rampant load shedding she added?
She said wastage of taxpayer???s money on luxuries by Government like useless foreign trips need to be cut as non-development expenditures especially the promotion of Sharif Family has contributed to the deficit.