Pak's effort to curb trade deficit leads to rising unemployment: Report

Pakistan’s effort to curb trade deficit by restricting imports is rapidly morphing into a bigger crisis of rising unemployment, according to a report.

“An increasing number of businesses are either scaling back operations or shutting down production mainly for one reason: the unavailability of imported raw materials. 

Curbing imports of raw materials to improve the trade balance is tantamount to cutting one’s nose to spite one’s face,” according to the Dawn.

According to noted economist Hafiz A Pasha, the number of unemployed people will increase by over 2 to 8 million by the end of 2022-23. Given that the labour force consists of 75.3m people, he said the unemployment rate will approach 10 per cent “probably for the first time”. The upcoming torrent of unemployment is the direct outcome of a self-inflicted, conscious decision. Exports also dropped 23 per cent in February year-on-year.

Structural flaws built over decades can’t be fixed in a jiffy, Dawn reported adding that the state is unloading its heaviest burden onto its weakest people, and that it’s time for policymakers to push the reset button on import restrictions.

Police register terrorism case against Imran, PTI leaders
 

Pakistani police on Sunday registered a terrorism case against Imran Khan and over a dozen Pakistan Tehreek-e-Insaf (PTI) leaders for indulging in vandalism, attacking security personnel and creating unrest outside the judicial complex here ahead of a court hearing in a graft case involving the ousted premier. 

About 17 PTI leaders were named in the FIR lodged by the Islamabad Police, Geo News reported.

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Govt mulls declaring Khan’s PTI ‘proscribed’ outfit: Interior Min
 

Pakistan Interior Minister Rana Sanuallah has said that the govern-ment plans to consult experts on initiating a process to declare Imran Khan’s PTI party a “proscribed” outfit after police claimed to have seized weapons from the ex-PM’s Lahore residence. 
 

“Terrorists were hiding in Zaman Park. Weapons, petrol bombs have been recovered from the residence of Imran Khan which is enough evidence to file a case against the PTI for being a militant organisation,” Sanaullah said.                                                                                                                                          
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