PM Shehbaz forms committee over Pakistan's sliding exports

ISLAMABAD: Prime Minister Shehbaz Sharif while taking notice of drop in the country’s exports has formed a committee to submit recommendations, ARY News reported on Thursday.

The prime minister has sought recommendations from the committee headed by Commerce Minister Naveed Qamar within 14 days, sources said.

Governor, State Bank of Pakistan and Commerce and Finance Secretaries are among the members of the committee, according to sources.

From July to December this fiscal year, exports were declined by 5.79 percent, while in December exports dropped 16.64 percent on yearly basis. The exports dropped by 3.64 percent in the month of December.

Pakistan’s exports dropped by 3.07 percent in October as compared to previous month of September, Pakistan Bureau of Statistics (PBS) was earlier quoted as saying.

According to a report issued by the PBS, the exports declined by 3.07 percent and 3.77 percent on a monthly and annual basis respectively.

The PBS, in its report, stated that the exports in October decreased by 3.07 percent to $2.37 million as compared to September ($2.44 million).

Pakistan’s exports dropped by 3.83% in September in comparison to August 2022 while imports dropped by 13.21%, PBS stated.

According to the report issued by the Pakistan Bureau of Statistics (PBS), Pakistan’s exports in September 2022 amounted to $2.38 billion. Exports in September 2022 were 3.83% lesser than in August 2022, while 0.91% lower than in September 2021, the PBS report shows.

The exports from July to September went up by 1.84%, which amounted to $7.12 billion.

However, imports in September dropped by 13.21% in comparison to August and amounted to $5.26 billion. The import dropped by 19.72% in comparison to September 2021, the report shows.