Due to the excellent government strategy facilitated by SIFC, Pakistan’s exports have recorded a substantial increase in the beginning of this financial year.
According to the Pakistan Bureau of Statistics, domestic merchandise exports increased by 14 percent compared to the same period of the previous financial year. Exports have increased by $620 million to reach $5.1 billion in August 2024.
This year, the debt of the power sector will increase by another 100 billion, the plan is shared with the IMF
Pakistan’s trade deficit has narrowed to $3.6 billion from $3.751 billion at the beginning of the fiscal year 2024-25, a decline of 4.2 percent due to increased exports.
In August, imports of high-duty items such as vehicles, home appliances and other items such as garments, fabrics and footwear fell by 1.3 percent on a year-on-year basis.
In this regard, with the support of SIFC, the government is constantly striving to increase domestic exports and considering various measures to stabilize the country’s economy.
Recently the trade liberalization plan has been finalized to promote domestic exports and economy, the trade liberalization plan will help in promoting economic growth by increasing export goods using innovation.
Chicken meat more expensive, eggs, vegetables and fruits also set new prices
The Prime Minister’s initiative to increase exports, industrial revival and provide financial incentives to industrialists will stabilize the economy.
Pakistan’s external debt has decreased in the last few months thanks to the government’s measures to strengthen the economy. The government’s efforts for the economic development of the country through the facilitation of SIFC are commendable.
