ISLAMABAD : June 2,2023 : Pakistan is set to miss its exports target of $32 billion as its total exports in 11 months of the outgoing fiscal year stand at $ 25.336 billion, less by 12.14 % over its last fiscal year’s exports .
Pakistan ‘s imports during the first 11 months of 2022-23 reduced by over 29 %.
In the middle of a raging economic crisis, Shahbaz Sharif government is struggling to minimise Pakistan’s trade gap and it has managed to curtail its imports.
The purpose of reducing imports was to somehow manage to steer Pakistan out of the on-going economic crisis and avert looming default on payments. Shahbaz government had faced severe criticism from business community over its policy of restricting imports –some of them critical. Its policy of restricting imports have worked and Pakistan seem getting out of default risk.
In the last year of Imran Khan’s rule , Pakistan’s imports had gone historic high and it crossed $ 72 billion mark. This widening of Pakistan’s trade gap to an alarming level rang danger bells for Pakistan . A huge gap of over $ 43 billion in trade in just one fiscal year (2021-22) shows reckless economic policies of Imran Khan’s government ..
Imran Khan is critical of Pakistan Democratic Movement (PDM) economic policies and he criticises Shahbaz Sharif ‘s economic team at every forum . He claims that in his rule , Pakistan achieved all time high exports which was a clear indication that Pakistan was making unprecedented process on economic front .
Since Imran Khan is a typical lier he does not tell the public or his handpicked media what was level of imports in the last year of his rule .
Interestingly , PDM government ‘s spokespersons are not contesting Imran Khan’s claims of making Pakistan’s economy robust in his three and half years rule.
Even today , PDM government seems in difficult position to expose real facts of Imran Khan’s rule and their repercussions on Pakistan’s economy.
Pakistan would have defaulted much before had Imran Khan stayed in power for the remaining one and half years of his rule .
Imran Khan was benefiting his cronies through various schemes . Al-Qadir Trust scandal which revolves around Imran Khan , his wife , Bushra Bibi , her frontlady , Farah Gogi and one dozens his advisors is one example how PTI chairman was dolling out hundreds of billions of rupees benefits to his cronies .
Here again there is no one in Shahbaz government to name Malik Riaz who is mastermind and real beneficiary of £190 million fraud.
The people of Pakistan wonder as to why Shahbaz Sharif ‘s ministers and spokespersons whose number is close to 100 are not ready to name Malik Riaz the owner of Behria Town in £ 190 million fraud.
Pakistan has witnessed 2022-23 as the worst year in its history and as a result its economy slowed down anormously .
Dip in exports in hard times is natural . One can hope Pakistan will perform better to achieve its exports goal of $ 30 billion in 2023-24.
