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Letter to BS: Govt must look for ways to cut cost of raw material imports

Progress has been achieved in many areas but export is not picking up steadily and in contrast import is on the rise

trade deficit

This refers to “Trade deficit widens to $17 billion, exports bounce back” (November 16 ). Progress has been achieved in many areas but export is not picking up steadily and in contrast import is on the rise. The trade deficit thus induced is deleterious to the country’s economic growth. Fuel is a key contributor to this imbalance as we see the number of private vehicles on the road increasing every year. While the use of fuel for certain purposes is essential, the measures to restrict the extravagant use of this essential commodity look ineffective and result in a ...