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Trade deficit widens 106pc in July-Dec

ISLAMABAD: Pakistan’s trade deficit year-on-year widened by a sharp 106.4 per cent to $25.478 billion which was driven largely by a nearly triple increase in imports compared to exports, showed data released by the Pakistan Bureau of Statistics on Wednesday. Upward reversing trend in trade deficit was witnessed for the six consecutive month owing to an unprecedented increase in the import values while the exports stagnated at between $2.5bn and $2.8bn a month — mostly semi-finished products or raw materials. Commerce Adviser Razak Dawood said in a statement that there were indications that the growth in imports had started to decline. During December 2021, Pakistan’s imports decreased by $1bn to $6.9bn as compared to $7.9bn in November 2021. The import projection for December 2021 was $6.2bn. Month-on-month it contracts 2.82pc The merchandise trade deficit swelled by 85.38pc year-on-year to $4.857bn in December. The highest-ever increase in imports also helped the Federal Board ...
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Pakistan expresses 'serious concern' over reports of India's new planned changes in occupied Kashmir

Pakistan on Monday expressed serious concern over reports of Indian government’s purported plans to trigger new “administrative and demographic changes” in Indian-occupied Kashmir. Commenting on reports of possible "further division, bifurcation and demographic changes" in occupied Kashmir, Foreign Office spokesperson Zahid Hafeez Chaudhri said "no new instrument of occupation shall have any legal effect." The statement comes after a meeting between occupied Kashmir's Lieutenant-Governor Manoj Sinha and Indian Home Minister Amit Shah and other officials in New Delhi today. Rumours are making rounds about possible new administrative and political changes in occupied Kashmir as reportedly discussed during the meeting, The Economic Times reported. Reacting to such reports, the FO statement reiterated that India’s unilateral and illegal actions in occupied Kashmir violated international law and the relevant resolutions of the United Nations Security Council. ...
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