Pakistan’s exports witness 14% increase with SIFC’s support

Pakistan’s exports recorded a significant increase of fourteen percent in the beginning of this financial year due to the support of Special Investment Facilitation Council (SIFC).

According to the statistics, exports increased by 620 million dollars to reach 5.1 billion dollars in August.

Due to increase in exports, the country’s trade deficit has narrowed to 3.6 billion dollars from 3.751 billion dollars at the beginning of the current fiscal year.

Meanwhile, imports of high-duty items such as vehicles, home appliances, and other consumer goods such as garments, fabrics and footwear fell by 1.3 percent in August.

With the support of SIFC, the government is considering various measures to increase domestic exports and stabilize the economy. Recently, a trade liberalization plan has been finalized to boost the country’s exports and economy.

The country’s external debt has decreased in the last few months as a result of government’s measures to strengthen the economy.

Source: Radio Pakistan