Pakistan's exports witness 14pc hike in current FY

Karachi: Pakistan's exports have witnessed 14 percent increase in the beginning of the current fiscal year due to the facilitation of the Special Investment Facilitation Council (SIFC).

According to the Pakistan Bureau of Statistics, in August 2024, the exports reached 5.1 billion dollars showing an increase of 620 million dollars.

The increase in exports also resulted in the decline of the country's trade deficit from $3.751 billion to $3.6 billion, recording a decrease of 4.2 percent.

Imports of high-duty items such as vehicles, home appliances, and other consumer goods including garments, fabrics and footwear fell by 1.3 percent annually during the last month.

Pakistan's foreign debts have also witnessed a drop during the past few months due to government measures to strengthen economy.

The government efforts under the facilitation of SIFC for the improvement of the economic development of the country are certainly commendable.