Federal Minister for Food Security Rana Tanveer Hussain on Friday said that Pakistan has to enhance its exports and decrease its trade deficit of $50 billion, it was reported on Friday.
Talking to the media men in Lahore, Rana Tanveer Hussain said that countries like Singapore and Thailand have advanced from the services sector.
The Federal Minister said, “We must move forward from complacency to export, and our businessman thinks that children are studying abroad.”
Rana Tanveer said that a businessman thinks, “The household is fine, there is a reasonable income, we don’t go beyond that, and in other countries, businessmen in other countries are thinking beyond complacency.
Rana Tanveer Hussain revealed that Manmohan Singh adopted the economic model of Pakistan, which is still implemented till yet.
He said that during his first tenure, Nawaz Sharif implemented a free market. He said that the Prime Minister asked me to visit the chamber because of the decline in exports.
He said that Pakistan’s exports decreased by 30 percent. Rana Tanveer said that India’s foreign exchange reserves are much higher than Pakistan’s.
He said our one rupee was equal to two Indian rupees. He saluted the overseas Pakistani who contributed a lot to strengthening the national economy. Rana Tanveer Hussain said that Singapore and Vietnam increased their exports.
Rana Tanveer also announced that Iran will import 300,000 tons of rice from Pakistan.
Addressing a ceremony at the Lahore Chamber of Commerce and Industry, he said the Prime Minister has set an export target of one hundred billion rupees for the country. He said Bangladesh has shown interest in importing rice from Pakistan, terming it a positive development.
The minister said increasing per-acre production through research is essential, adding that higher exports will help reduce the current account deficit.
