ISLAMABAD: The Federal Commerce Minister, Mir Afzal Khan, said here today [April 14] the Government has every hope the deficit in our balance of trade in the current year will be reduced as compared to 1974. The Minister also outlined a number of measures being taken ... to boost export, diversify foreign trade and industry, curb inflation, and step up production of manufactured goods and farm products.

Addressing the Federation of Pakistan Chambers of Commerce and Industry, he said the proposal of establishing a free trade area is already engaging attention of the Government. The Federation had requested establishment of such an area on the Baluchistan coast. The Minister said the Government is aware of the impact the free trade zones have made in some other countries. He said the matter has to be considered carefully in the context of Pakistan’s geographic and economic profile.

He attributed the ... adverse balance of payments position of Pakistan to recessionary trends in exports and a liberal import policy. … He agreed ... that Pakistan should welcome petro-dollars for investment in Pakistani industries.

Published in Dawn, April 15th, 2025