Minister of State for Finance and Revenue Dr. Aisha Ghaus Pasha has stressed the need for increasing Pakistan’s exports and reducing imports to bridge the huge gap. The country’s spending was higher than its income, exports were low and imports were high, she said addressing a conference organised by the Lahore Chamber of Commerce & Industry, adding that there should be measures to overcome the shortcomings. The conference - Evolution of Social, Economic, Political Order Past, Present and Future of Pakistan: and its Impact on Creation of Enabling Business Environment - aimed at bringing all the stakeholders to one platform for identifying the factors for economic ills and solutions to the challenges being faced by trade, industry and the economy. Aisha said the volume of foreign remittances was more than $ 30 billion but the country’s tax revenue was not increasing. The financial crunch forced Pakistan to approach the IMF, which provided funds on its own conditionalities, she added.

Credit: Independent News Pakistan-WealthPk