President American Business Forum (ABF) Salim Ghauri has expressed concerns over 41per cent increase in trade deficit within first eight months of current fiscal and said the country’s economy would have to pay the price of huge fiscal and trade deficits.
Salim said the independent economic mangers fear that the fiscal deficit is likely to touch 8per cent of the GDP by the end of current fiscal against projected 4per cent or around by the government. He said the worst economic situation is being translated into record low growth of Large Scale Manufacturing (LSM) sector, leading to a contraction in the job opportunities.
