Pakistan’s exports are negligible: Reza Baqir

[BL33D]

Governor State Bank of Pakistan (SBP) Reza Baqir on Thursday said Pakistan stood with Afghanistan, Sudan, Yemen and Ethiopia in terms of exports adding that with this trend, no country could be run successfully.

Baqir told the participations of CEO Summit Asia that the State Bank of Pakistan (SBP) could lower interest rates later this year as consumer inflation — the cornerstone of its policy framework — is expected to ease in coming months.

“Drop in inflation would have a trickle-down impact as food inflation is currently on the higher side. Reduction in inflation would help reduce interest rate,” Reza said. In January, consumer inflation stood at 14.6 percent and interest rate at a decade-high of 13.25 percent.

Baqir, however, clarified that monetary policy committee decides policy without government interference. “The committee does not have any member from the government.” “After analysis the inflation rate, policy rate has been decided.”

He said economy was coming back to growth trajectory from stability mode with fundamental economic indicators, like current and fiscal account positions depicting signs of improvement. “Now things are better and one could analyse the difference… currently we are moving from stability to growth. Things will take time to further improve.” The SBP governor said exchange rate was stable and foreign exchange reserves were at the comfortable level. Currently, foreign exchange reserves stand at the level of $12 to 13 billion.

Baqir said though exports contribute less than 10 percent to GDP, they grew 4.5 percent in the first half of the current financial year, showing a steady growth of economy.

Pakistan increased its exports compared to falling exports in several regional economies, which were considered as export powerhouses, he added. He said the preliminary signs of economic turnaround started to appear. Sales of cement, imports of machinery, and large scale manufacturing monthly growth proved the notion that the national economy steers towards growth. “We can say with confidence that we have put the worst behind us,” he said.

https://www.thenews.com.pk/print/617280-pakistan-s-exports-are-negligible-reza-baqir

 

[crankthatskunk]

Food inflation is high due to the "Kutti" nature of Pakistanis.
They want to skim their own country folks and the country itself at any given opportunity.
In a country, which produces most of the food required, the food items should not be so expensive routinely.
For example in Ramzan everything is expensive. Not because of inflation but greed.
Pakistanis have to get rid of the greed immediately. The interest rates had been higher for ions because Pakistan's greed have no bounds.
People have to understand, expensive finance means that it adds to the cost of production of every item produced in the country, making it un-competitive in the world.
BD has not beaten us in exports in one day. It has taken decades. Our industry died down due to expensive finance and energy prices. BD gained and picked up all those orders, especially garments orders.

The energy prices also are reflections of the daft and criminal contracts entered by both PPP and PMLN. Those awards mostly awarded to their chums. Resulted in continuous cycle of "circular debt".

All Pakistani problems are made by its own people because of their greed and their traitors traits.

 

[ARMalik]

Well he is at least honest. It is absolutely pathetic and criminal the condition of Pakistan's economy. The Corrupt Establishment of Pakistan and its intelligence apparatus through its support of puppets like NS, Zardari and other corrupt criminal politicians has destroyed the future of Pakistan's people. And through the installation of agents of chaos like this guy Reza, they are absolutely murdering this country.

 

[Syed1.]

Well he is at least honest. It is absolutely pathetic and criminal the condition of Pakistan's economy. The Corrupt Establishment of Pakistan and its intelligence apparatus through its support of puppets like NS, Zardari and other corrupt criminal politicians has destroyed the future of Pakistan's people. And through the installation of agents of chaos like this guy Reza, they are absolutely murdering this country.

Sir why don't you post your resume or someone you know who has better credentials than Mr. Reza and is more worthy of being SBP chief.

 

[gangsta_rap]

Why does he look like hes such a big prick? Look at that face of his

 

[pakpride00090]

Well he is at least honest. It is absolutely pathetic and criminal the condition of Pakistan's economy. The Corrupt Establishment of Pakistan and its intelligence apparatus through its support of puppets like NS, Zardari and other corrupt criminal politicians has destroyed the future of Pakistan's people. And through the installation of agents of chaos like this guy Reza, they are absolutely murdering this country.

Bethe howe ho australia mein our batain dekho.

 

[ARMalik]

Sir why don't you post your resume or someone you know who has better credentials than Mr. Reza and is more worthy of being SBP chief.

Surely you can post something more sensible but then I maybe expecting too much from you. Do you expect people to post their resume on a Public Forum? You got to be an absolute nutcase to post something like this.

Bethe howe ho australia mein our batain dekho.

You need to Post in English which is the language of this forum. If you English ability is poor then you can use Google to translate.

 

[pakpride00090]

Surely you can post something more sensible but then I maybe expecting too much from you. Do you expect people to post their resume on a Public Forum? You got to be an absolute nutcase to post something like this.



You need to Post in English which is the language of this forum. If you English ability is poor then you can use Google to translate.

Acts like a Pakistani but doesn't know Urdu.... lol...

 

[ARMalik]

Acts like a Pakistani but doesn't know Urdu.... lol...

Oh Gosh dude, you just scored a point. Fantastic, well done. Now pat yourself on the back and feel good. You are really smart.

 

[pakpride00090]

Oh Gosh dude, you just scored a point. Fantastic, well done. Now pat yourself on the back and feel good. You are really smart.

Lol...

 

[Esgalduin]

Why does he look like hes such a big prick? Look at that face of his

Why should someone's face be your criterion for assessing how trustworthy they are? It's an honest question.

 

[bafxet]

That is the crux of all the problems which Pakistan is faced with. Our exports are narrowly based and for decades are revolving around Textiles, Rice, leather and sport goods. The best figure of USD 26 billion we attained was post 9/11 when EU gave us a special status.

I have been monitoring Pakistan's export since 1981, than it was USD 8 billion. From 8 to 22 billion in a space of 40 years is negligible for sure and taking inflation into account it would give a negative growth.

I don't think that Govt. regulatory policies are to be fully blamed. Instead I think that we lack enterpur skills. Therefore parallel to other things we must heavily invest on developing human skills.