Pakistan, Nov. 9 -- The All Pakistan Business Forum (APBF) has warned that Pakistan's widening trade deficit is exposing the economy to mounting external financing pressures, stressing that sustainable economic stability requires stronger export earnings, import substitution and greater participation of small and medium enterprises in international trade.

APBF President Syed Maaz Mahmood and Chairman Ibrahim Qureshi, in a joint statement, said the growing gap between imports and exports was a reflection of the country's inability to build a sufficiently broad and competitive export base. They stressed that dependence on foreign loans, bilateral debt rollovers and fresh borrowing could not replace a strong domestic export economy.

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