KABUL (SW): Humayou Rasa, minister for trade and commerce has warned if serious attention was not paid towards the worsening trade deficit, the country would plunge into an entirely import dependent one.
Rasa said this while outlining his priorities for the next 100-day in office. As per policy, President Ashraf Ghani has asked all 25 ministers of his cabinet to draw such plans and strive to implement them.
On his part, the trade and commerce minister said promoting the private sector, encouraging foreign direct investment, job creation, encouraging domestic products and ultimately balancing the trade deficit remained top priorities.
“Our imports are at least 20 times more than exports that means if we bring a U.S. dollar to the country against our exports 20 dollars go out against the goods and services we import”, he said. The minister added that his ministry would try to develop various dry ports in the country in collaboration with the international community and neighboring countries.
In eyes of various economic analysts it would be a daunting task to lift the economy under current circumstances when the aid money is shrinking and capital is flying away due to insecurity.
“I am not very confident that the ministry would succeed implementing its plans in the true spirit”, Saifuddin Saihoon, an analyst told SW.
In his speech, while announcing the 100-day plan, the minister too underlined that the worsening state of security could jeopardize the efforts to lift the economy.
ENDS
