KARACHI
The country’s exports surged by 10.58 per cent to $1.631 billion in the first month of July 2017-18 compared to $1.475 billion in last July 2016-17, however it declined by 14.7 per cent compared to June 2017, as the country exported goods worth $1.912 billion, the data of Pakistan Bureau of Statistic (PBS) said here on Thursday.
The imports of the country increased by 36.74 per cent to $4.835 billion in the month of July 2017-18 compared to $3.536 billion in the same period last year however, they enhanced by 6.64 per cent compared to $4.534 billion in June 2017.
The trade deficit recorded at 55.46 per cent to $3.240 billion in the first month of the current fiscal year compared to $2.061 billion in the same period last year. On a year-on-year basis, it increased by 22.20 per cent compared to $2.266 billion in June 2017.
Despite all the effort of the government to enhance exports in 2016-17, the country’s goods’ exports had declined by 1.63 per cent to $20.448 billion in (July-June) 2016-17 from $20.787 billion in the same period last year. In last two years, the country’s exports had slid by 15.75 per cent from $23.667 billion in 2014-15.
The newly appointed commerce minister has recently announced to bring the export up to the level of $35 billion in current fiscal year. Former prime minister Nawaz Sharif had given several exports incentives including Rs 180 package to the textile industry in January 2017.
According to the industry sources, only $2 billion has been released by the government from this announced packaged, while over $200 billion rebate and refund cases are stuck up with the government.
Analysts of the brokerage houses believed that export of goods may improve this year if the federal government releases industrialists’ refunds and exports’ rebates etc.
However, the businessmen said that Trade Development Authority of Pakistan (TDAP) did nothing last year except to hold some exhibitions. “There is need to improve the TDAP so that local export can be enhanced,” one of the industrialists said.
