Exports surge by one billion dollars in second quarter, says minister

Pakistan's economy has received a boost as domestic exports increased by one billion dollars in the second quarter of the financial year, according to the Federal Minister for Commerce, Industries and Investment, Gohar Ejaz.

He said that the exports from October to December 2023 amounted to 8 billion dollars, compared to 7 billion dollars in the same period last year.

He claimed that Pakistan's economy has been pulled out of bankruptcy and the current account deficit has been reduced by 77% due to additional exports. He also said that in December, the current account surplus was 397 million dollars.

He attributed the economic turnaround to the efforts of the caretaker government, which took over in July 2023.

He said that the economic problems are being solved by increasing domestic exports and reducing imports.

He announced that he has set the target of bringing the country's exports to 100 billion dollars and has established Industrial and Export Advisory Councils to facilitate this goal.

He urged all stakeholders to continue joint efforts to increase exports and improve the country's economic situation.