Pakistani Exports Key to Economic Stability, Says FPCCI Vice President

Karachi: Amaan Pracha, Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), emphasized the importance of boosting Pakistani exports to bring in essential foreign exchange. He urged Prime Minister Shahbaz Sharif and Federal Finance Minister Muhammad Aurangzeb to enhance efforts to expand exports beyond textiles to other products with high international demand.

Pracha highlighted a 9.38% growth in textile exports, marking a positive trend for the nation’s economy. Textile exports have reached a record $13.613 billion, a development seen as encouraging by industry leaders. However, he stressed the necessity of exploring new markets and diversifying exports to prevent rival countries from capturing these opportunities.

Discussing the broader economic context, Pracha noted improvements in the national economy, highlighted by a significant increase in the current account surplus. For the first time in the country’s history, remittances have exceeded $4 billion, contributing to a current account surplus of $1.19 billion in March. Over the first nine months of the fiscal year, the surplus reached $1.85 billion.

Pracha attributed this economic success to the control of imports and the efforts of Army Chief General Asim Munir and Prime Minister Shahbaz Sharif. He called for political support to sustain economic stability, asserting that political stability is essential for continued economic progress.