UBG chief expresses concern over trade deficit

United Business Group president Zubair Tufail has voiced worry about Pakistan's trade gap, which widened to $10.8 billion in the opening quarter of the fiscal year, according to Business Recorder. Although shipments abroad climbed sharply from a year earlier in September 2026, he argued that rapid import growth still poses a serious test for the trade balance. He warned that a lasting widening of the gap would squeeze foreign currency reserves and overseas payment commitments.

Tufail wants electricity and gas costs cut, plus other production expenses, so exporters can compete better abroad. He also called for smoother imports of raw materials and essential machinery for factories, and prompt refunds to exporters. He wants export efforts to reach beyond textiles, into information technology, engineering, medicines, rice, leather goods, sporting items and surgical tools. Tufail also suggested that commercial counsellors at Pakistani missions abroad be given firm export targets and asked to open doors to local markets.

The Pakistan Bureau of Statistics' figures also show a month-on-month rise, with September shipments at $2.94 billion. He proposed a shared Export Growth Roadmap, to be built by officials, the central bank and the private sector together. The plan would favour long-term incentives for exporters, productive investment and local output of raw materials, while steering away from non-essential imports. He also argued that rising IT and digital service earnings could partly offset the merchandise shortfall.