New Delhi, May 9 Pakistan’s exports in the first three quarters of FY26 reached Rs6.39 trillion, a 7.14 pr cent decline in rupee terms compared to the previous year, widening the trade deficit to new heights, according to a new report.
The report in The Express Tribune says that a slump in economic growth amid the adverse regional situation is set to impact balance of payments as the fiscal year comes to an end.
“Trade deficit is anticipated to be one of the biggest concerns as imports have surged despite government's corrective measures, with exports failing to rise. The gap is supposed to be as high as $32 billion, as 'managed exchange rate' has not bred the desired results,” according to the report.
In more trouble, the equity market has also witnessed massive outflows amid closure of several multinational firms.
This, according to the report, “negates the prolific efforts of the government to attract FDI, throw open the country's mineral base for exploration, and utilise the country's geo-strategic location as pivot for connectivity”.
Pakistan’s total annual imports were on the rise driven by purchases for fuels, electrical equipment and edible oils.
Meanwhile, amid the ongoing West Asia conflict, Pakistan has again hiked petrol and diesel price by around 15 rupee per litre each. As per the official notification issued by Pakistan’s Ministry of Energy (Petroleum Division), the price of petrol has been increased from PKR 399.86 to PKR 414.78, while the high-speed diesel (HSD) price has gone up from PKR 399.58 to PKR 414.58 per litre.
According to the report, remittances are also expected to slow down in the wake of retrenchments and deportations from the Gulf states, “sliding it into an abyss of discomfort”.
Also, the International Monetary Fund (IMF) will reportedly give more than $1.2 billion to Pakistan under its ongoing loan programme.
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