It is also claiming that Osborne is set to miss his export target by over £400bn.
But Pakistan is likely to fall short of its export target this year.
There is an export target of 650,000 barrels of crude a day this month, increasing to 750,000 next month.
Pakistan is now likely to fail to meet its mango export target of 150,000 tons by September, instead managing to export only 100,000 tons.
Even before the recent ban on Western produce, Kazakhstan was on track to meet an export target of 10,000 tonnes to Russia this year.
But those deals make up little more than a third of the government's export target for 2000, without any other buyers in sight.
He said it was also possible that the recent weakness of sterling may be providing some support for exporters, though there was still "a long way to go to reach the government's export target of £1tn annually by 2020".
Nevertheless, Mr Nath went ahead and set a very ambitious merchandise export target of US$200bn for the current fiscal year.To help achieve that objective, the supplement announced a number of measures to increase exports.
Although the council eventually allowed the import of spare parts to improve capacity, bringing these in proved even slower and more bureaucratic than importing food.Iraq reached its export target in late 1999, thanks largely to rising oil prices.
Nath says India's export target for 2008 is $500 billion, four times this year's figure.
