Govt, SBP to provide additional Rs300bn in subsidized financing to exporters: Hafeez Sheikh

Advisor to Prime Minister on Finance and Revenue Abdul Hafeez Sheikh has said that the authorities, alongside the central bank, will provide additional Rs300 billion in subsidized financing to exporters, so as to offer easy working capital & capital for expansion.

The growth comes amid exports of goods and services increased by 9.6% in OctoberMeanwhile, the country’s trade deficit during the first four weeks of the continuing fiscal year 2019-20 has recorded a decrease of 33.52 percentage as compared to the initial four weeks of their past fiscal year 2018-19.

According to the latest data of advance releases on overseas trade statistics released by the Pakistan Bureau of Statistics (PBS), the trade deficit throughout July-October 2019-20 was listed at $7.776 billion against the shortage of $11.696 billion throughout July-October 2018-19.

The exports during the four month period increased from $7.270 billion during last year to $7.547 billion during the present fiscal year, showing a rise of 3.81 percent.

On the other hand, imports throughout the four month period seen a decrease of 19.21 percent by falling from $18.966 billion last year to $15.323 billion during the current fiscal year, the data revealed.

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