ISLAMABAD: The ‘All Pakistan Business Forum’ (APBF) on Tuesday expressed its concerns over the alarming rise in Pakistan’s trade-deficit during the first seven months of the current fiscal year. According to recent economic reports in the media, Pakistan’s external sector is facing increasing pressure. The reason is that its trade deficit has alarmingly widened by 28.7% to reach $17.4 billion, during the period July 2016 to January 2017, due to a continuous decline in exports and double-digit growth in imports. The deficit has already risen by $3.9 billion, 28.7% more than the previous year’s comparative period, as exports plunged 3.2%, to total $11.7 billion during July-January. In comparison, Pakistan’s imports increased by 13.7% to reach $29.1 billion in the same period. In absolute terms, the import bill was $3.5 billion more than the previous year. The Pakistan Bureau of Statistics (PBS) has revealed that the country has breached its limits by booking a trade-deficit of $17.42-billion in 7 months, which is already equivalent to 85% of the country’s annual target. Exports during these seven-months were less than half of the yearly target, while imports have already reached two-thirds of the annual projections. The State Bank of Pakistan has already issued a warning about this excessive gap between external payments and receipts, termed as current-account deficit, which is expected to go beyond $4.5 billion. The APBF president stated, “It is good to see that an excessive amount of machinery is being imported for the rapid development of numerous ventures under the China-Pakistan Economic Corridor. This reflects faster industrial progress in Pakistan.” He added, “however, Pakistan’s financial managers must remain cautious, not to exceed the country’s financial capacity and resources. We must maintain a healthy balance between our imports and exports. Otherwise, this deficit will reach the $25 Billion mark by the end of this fiscal year, and the government will be forced to rely excessively on foreign borrowings.”