ISLAMABAD: Pakistan’s exports saw a significant increase of 14% at the start of the financial year, largely due to the support of the Special Investment Facilitation Council (SIFC).
According to the Bureau of Statistics, exports rose by $620 million, reaching $5.1 billion in August. This growth has helped narrow the country’s trade deficit to $3.6 billion, down from $3.751 billion at the beginning of the current fiscal year.
Furthermore, imports of high-duty items, including vehicles, home appliances, and consumer goods such as garments, fabrics, and footwear, fell by 1.3% in August.
With SIFC’s assistance, the government is exploring various strategies to boost domestic exports and stabilize the economy. A trade liberalization plan has recently been finalized to further enhance exports and support economic growth.
Moreover, the country’s external debt has decreased in recent months, thanks to government initiatives aimed at strengthening the economy.
