‘Exports to US can decrease by 30%’

[LRE]

‘Exports to US can decrease by 30%’

Staff Report

LAHORE: The exports to United Stated of America (USA) can plunge by 30 percent, says National Bank of Pakistan (NBP) President, Ali Raza.

He was addressing a seminar arranged by the branch managers of the bank. He said that the US economy is a consumer-based economy and the recent mayhem caused by the financial markets will take its toll on the purchasing power of world’s biggest economy. Therefore the export of Pakistan could suffer as a result. Raza said that food crisis is emerging due to use of food products for bio-fuels. He was of the view that there is great potential in agri-sector of Pakistan, which can cash in on the paradigm shift observed in the terms of trade due to the food price hike. “We should enhance the food production by giving special attention to the agriculture sector,” Raza said.

He said that NBP is making all-out efforts to please its customers through better quality and good banking. He emphasised the branch managers of the bank to take extra care of the customers. “Better customer service would bring good name to the bank.”

http://www.dailytimes.com.pk/default.asp...2008_pg5_5