Adviser to PM on Commerce, Textile, Industry and Investment Abdul Razak Dawood on Monday (Feb 11) while addressing a news conference in Islamabad said that The trade deficit has reduced from $21.3 billion to $19.2 billion dollars adding that government has saved 2 billion on imports in the last seven months.
While pointing out right directions of country towards economy he said “exports in the first seven months of the current fiscal year remained $13.259 billion while imports stood at $32.54 billion as compared to $34.26 billion during the corresponding period last year,” he added. “The trade deficit has reduced from $21.3 billion to $19.2 billion dollars.”
He added “Exports have registered an increase of four percent in dollars in the last seven months and this translates to a 30 percent increase in terms of Pakistani rupee.” “The result of currency devaluation will be visible on export trajectory in the coming five months.” “The ban on the import of furnace oil and non-essential food items benefited the economy,” he shared.
“The policy of squeezing imports is paying dividends and its results will be far more encouraging in the next five months,” the adviser to the premier said.
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17 November, 2019