By Commerce Reporter
LAHORE: The Lahore Chamber of Commerce & Industry (LCCI) Senior Vice President has expressed serious concern over the recent economic indicators for the July–November period, which show Pakistan’s trade deficit widening to USD 37.17 billion, primarily due to a sharp decline in exports.
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National exports fell by 15.35% year-on-year (YoY) in November, marking the second consecutive month of contraction. The drop in export performance not only threatens Pakistan’s external sector stability but also highlights deeper structural challenges facing the economy.
“As Senior Vice President of LCCI, I stress that this trend is unsustainable and demands immediate policy attention. Pakistan’s export competitiveness has been hampered by high production costs, inconsistent policies, currency volatility, logistical bottlenecks, and limited diversification in global markets,” he said.
To address these challenges, LCCI SVP urges the government to:
1. Introduce export-supportive measures, including reduced cost of doing business, streamlined refund processes, and stable energy pricing.
2. Strengthen the Export Promotion Framework, focusing on high-potential sectors such as engineering goods, IT services, value-added textiles, auto parts, and agri-tech.
3. Facilitate industrial growth by ensuring uninterrupted energy supply at regionally competitive tariffs.
4. Accelerate trade diplomacy efforts to open new markets and revive bilateral agreements to boost Pakistan’s export footprint.
5. Promote ease of doing business through customs digitalization and modernization of ports to reduce lead times and transaction costs.
Robust export growth is critical for Pakistan’s economic resilience. The widening trade deficit is putting immense pressure on foreign exchange reserves, inflation, and overall macroeconomic stability. LCCI stands ready to support the government with actionable proposals, industry insights, and collaborative initiatives to reverse this negative trajectory.
The Chamber reaffirms its commitment to promoting sustainable trade, strengthening industrial capacity, and ensuring Pakistan moves toward a balanced and stable economic future, he concluded.
