Trade deficit down by more than $3.8 billion since PTI took over

[umer_javed]

I am just telling my opinion. What trump says is not relevant for me.
US case is living beyond means. Now if like to divide the 22 trillion per expense then it is a long academic debate.

May Allah Help us all in seeking his Hidaya.
Bhai please do some research.

Regards,

 

[paittibahi]

او بے شرم چوتیو ڈالر کب سستا ہوگا ادویات پیٹرول ضروریات زندگی کا ریٹ کب کم ہو گا کسانوں کو بجلی کھاد فری کب ملے گی اگر یہ نہیں ہو سکتا تو سارے اعدادو شمار ایک دھوکا ہے جیسے پہلی حکومتیں دیتی آی ہیں
​

جس دن یہ بیغیرت آل شریف اور بیماری اور آپ کے ابا جان فضلو کے پیٹ پھاڑ کر قوم کے اربوں بلکہ کھربوں نہ نکالے جائیں۔اس میں فراری کا بھی ایک ارب شامل کر لیا جائے​

 

[aazad.mubassir]

Import of furnace oil must be banned forever. The military is already using the furnace oil from our own refineries, same should be done for the civilians as well. All the IPPs are capable of running their plants on cheap LNG but they are running them on costly imported furnace oil. Their capacity must be monitored closely. If they are not generating power according to their capacity the payment must not be made. That's the only way to cut down circular debt.

 

[akinternational]

asad umar na ehel aur nakaam wazirekhazana...sirf barhken aur ghalat aadad o shumar....janab agar itna oaisa bachaya to wo gaya kahan????ayyashi men, tankhahain waziron ki barhane men ya gariyan naehel afsaron aur unke ehel ekhana ke kharidne men????
""""""""""""Pakistan men sood, sharab, behayai aur english band ki jai"""""""""""

 

[indigo]

Stock exchange sinking 50 billions rupees took out since Asad umer took over and International debt reached from $97 Billion dollars to $107 Billion Dollars . 1 million people lost their jobs...Rs 495 billion revenue short fall in FBR... Inflation is Record break in Pakistan in last 8 months....Imran khan illegal VVIP Grand Hayat and Bani gala apartments got regularised since he came in power but in Karachi 3.5 lakhs people unemployed in a seconds on the name of encroachment who were doing business and paying rent to KDA for the last 45 years

Large font size do not convert bullshit into facts.

 

[Admiral]

بھائی، ایک اہم بات گول کر گئے۔
تجارتی خسارہ اس لیے کم ہو گیا ہے کیونکہ ڈالر ناپید ہو چکا، اور درآمد شدہ مال کی فروخت اب اتنی منافع بخش نہیں رہی۔ اس لیے درآمدات بھی کم ہو گئی ہیں ۔

 

[naveed]

Pakistan government’s battle against bloated trade deficit is finally bearing fruit as it shrank by 14% to $23.45bn in the first nine months of the current fiscal year from $27.29bn in the corresponding period last year.

The decline in deficit – down $3.84bn in the July-March period – is estimated to be in the range of $5bn-$6bn at the end of the ongoing fiscal year.This contraction is mainly attributable to a steep fall in overall import bill even though export proceeds posted a mixed trend during the period under review.On a month-on-month basis, the trade deficit fell by 37.74% to $1.93bn in March from $3.1bn over the corresponding month last year.

Official figures show that the country’s exports fell by 4.54% in March; making it the second consecutive month in which export proceeds have posted a decline.
In absolute terms, the exports fell to $2.1bn in March from $2.2bn over the corresponding month last year.In February, exports edged lower by 0.37% year-on-year to $1.88bn.

The massive 33% rupee devaluation since July, 2018 coupled with cash assistance to major sectors, mainly textile and clothing wasn’t enough to boost the country’s exports as they grew by a marginal 1.05% to $17.21bn during the July-March period 2018-19, from $17.03bn in the corresponding period last year.
The government had earlier claimed that the impact of currency devaluation will be visible in the export trajectory, anticipating a pickup in foreign sales and a steep decline in imports during the months ahead.

The value of imported goods in the nine-month period was recorded at $40.66bn, down 8.25%, from $44.32bn.The decline was even steeper in March, falling by 23.96% to $4.03bn, from $5.3bn in the same month last year.According to the government reports, the decline in imports is mainly due to the imposition of regulatory duties on luxury items and automobiles.

Moreover, the government also slapped a ban on import of furnace oil last month.The Commerce Division also claimed that imports have begun their downward journey due to a number of policy interventions by the government such as improved energy supply, import substitution drive, economic stabilisation, and currency devaluation.

The curtailment in import flows is manifest in the statistics that the twenty-foot equivalent unit, an approximate unit of cargo capacity used to describe the capacity of container ships and container terminals, has dropped by almost 10% between July-March 2018-19 from a year ago. The trend of compression is even more pronounced in imports under regulatory duty regime, where the value has declined from $7.9bn in July-March to $6.6bn in July-March 2018, showing a contraction of 16%.
The government has imposed regulatory duties on around 1,194 tariff lines.

The decline in deficit shows that the government’s interventions have started bearing fruits.Data indicates that measures taken in the two supplementary Finance Acts have firmly taken hold and are now effectively curtailing imports as per the policy regime of the
government.

Pakistan’s trade deficit dips 14% to $23.45bn in 9 months

Pakistan government’s battle against bloated trade deficit is finally bearing fruit as it shrank by 14% to $23.45bn in the first nine months of the current fiscal year from...

www.gulf-times.com

 

[GreenMaple]

At least economy is trending in the right direction.

 

[f.basharat]

But why exports are not improving despite currency devaluation, export must become more fruitful as now they can get more money against the same dollar, our industry is not growing or slow growing??

 

[insaf-seeker]

But why exports are not improving despite currency devaluation, export must become more fruitful as now they can get more money against the same dollar, our industry is not growing or slow growing??

Increase in exports is a long term thing, exports can't be improved overnight at least 2 to 3 years required.

 

[Will_Bite]

Increase in exports is a long term thing, exports can't be improved overnight at least 2 to 3 years required.

Export orders are booked months in advance. Any move related to the economy takes some time to bear fruit. And on the same token, any bad move continues to hurt for some time.

 

[sab_tamasha_hai]

But why exports are not improving despite currency devaluation, export must become more fruitful as now they can get more money against the same dollar, our industry is not growing or slow growing??

Well it takes time for new contracts to happen. When you are competing with international players in our case Vietnam and Bangladesh for textile exports they already have saturated foriegn markets.

Now, when Pakistani businesses can produce cheaper products they would hope to get bigger numbers in next consignments.

I think we have to be patient with exports to pick up. Also if the textile industry does not respond in another few months , we need to subsidies other industries rather then textile then.

 

[insaf-seeker]

Export orders are booked months in advance. Any move related to the economy takes some time to bear fruit. And on the same token, any bad move continues to hurt for some time.

Not just orders but the local industry needs to be restarted which was shutdown in Zardari and Nawaz's Era. That is time taking task as well.

 

[hamidk]

Stock exchange sinking 50 billions rupees took out since Asad umer took over and International debt reached from $97 Billion dollars to $107 Billion Dollars . 1 million people lost their jobs...Rs 495 billion revenue short fall in FBR... Inflation is Record break in Pakistan in last 8 months....Imran khan illegal VVIP Grand Hayat and Bani gala apartments got regularised since he came in power but in Karachi 3.5 lakhs people unemployed in a seconds on the name of encroachment who were doing business and paying rent to KDA for the last 45 years

1stly: Dont talk in the air
2ndly: we were well expecting the negative affects of these difficult decision in the short time. slowly things will improve and it will be consistant.
3rdly: Dont compare things with the previous figures. it was only a gorag dhanda of figures, nothing real,
4thly: you couldn't resist demonstrating that you are a patwari by bringing banigala in the middle of pure economic discussion.

 

[ProPakistanii]

Stock exchange sinking 50 billions rupees took out since Asad umer took over and International debt reached from $97 Billion dollars to $107 Billion Dollars . 1 million people lost their jobs...Rs 495 billion revenue short fall in FBR... Inflation is Record break in Pakistan in last 8 months....Imran khan illegal VVIP Grand Hayat and Bani gala apartments got regularised since he came in power but in Karachi 3.5 lakhs people unemployed in a seconds on the name of encroachment who were doing business and paying rent to KDA for the last 45 years

When PTI took over, loan was $97 billion. now tell me how much is the interest on it during the 8 months? The average interest rate on which your favorite leaders took loan is 10.5%. Now pick up a calculator and calculate.

 

[Fawad Javed]

When they will start reforming FBR and start taxing rich people abhi tak tu sirf gareeb ke band baj rahi hai

At least economy is trending in the right direction.

 

[GreenMaple]

When they will start reforming FBR and start taxing rich people abhi tak tu sirf gareeb ke band baj rahi hai

I think situation on FBR and tax reforms will become clearer in the upcoming fiscal budget. The new amnesty scheme by the government is meant to bring more people in the tax net. Hope it succeeds.

 

[Fawad Javed]

well, things cannot change until reforms are done massive changes are required in every institution and they can start with FBR why not make it online as in western countries as machines are not corrupt

without reforms no hope....

I think situation on FBR and tax reforms will become clearer in the upcoming fiscal budget. The new amnesty scheme by the government is meant to bring more people in the tax net. Hope it succeeds.

 

[GreenMaple]

well, things cannot change until reforms are done massive changes are required in every institution and they can start with FBR why not make it online as in western countries as machines are not corrupt

without reforms no hope....

Agree with you on this.

 

[farooqak]

in 5 years time, this govt should work with pvt sector to get exports to 40 billion and remittance to 30 billion. Thay way if imports stay at 50 billion, they are in surplus to create reserves and be able to pay of debt in steady manner.
If they discover oil or gas in Karachi sea, that would be icing on the cake. Even if no one buys that oil, we can locally use it to reduce import bill of upto 10 billion further increasing reserves