‘Upcoming budget can make or break Pakistan’s economy’

KARACHI: All Pakistan Textile Mills Association (Aptma) Senior Vice Chairman Zahid Mazhar has urged the government to present a budget that supports the export-oriented industries, including textiles.

According to a press release, Mazhar said that the government must accommodate the export-oriented industries.

“The government should avoid imposing any additional tax on the industry because if it does, then that would be the final nail in the coffin for the export sector,” he said.

“The upcoming budget can prove to be a game-changer for Pakistan’s economy if it encourages exports, industry and employment generation,” he added.

The Aptma senior vice chairman said that during the first 10 months of the ongoing fiscal year, the trade deficit has already jumped to $26.55 billion, up 40% from $18.95 billion in the corresponding period of previous fiscal year. He added that if the trend continues, trade deficit for the current financial year would reach to a record level of $30 billion.

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