The Ministry of Commerce urges all stakeholders to build on this momentum, emphasizing the need for collective efforts to sustain and enhance this positive trajectory.
In a remarkable turn of events, Pakistan has transitioned from facing potential default to achieving a record-breaking surplus in its current account, showcasing the nation’s resilience and commitment to economic stability.
In December 2023, Pakistan achieved an impressive current account surplus of $397 million.
This surplus contributed to the overall surplus of $198 million in the second quarter of Financial Year 2024. This substantial increase in surplus is a testament to the effective economic strategies implemented by the government.
This significant improvement has led to a remarkable 77% reduction in the Current Account Deficit (CAD), which now stands at $2.8 billion.
Through a combination of higher exports and lower imports, the economic landscape has shifted positively, addressing challenges head-on.
Under Minister Dr. Gohar Ejaz’s leadership, a bold vision has been set to elevate Pakistan’s trade to $100 billion. This initiative involves exploring new markets for exports.
The Minister’s proactive approach involved taking all stakeholders on board through the Industrial Advisory Council and Export Advisory Council, fostering collaboration to enhance production and trade.
The Ministry of Commerce urges all stakeholders to build on this momentum, emphasizing the need for collective efforts to sustain and enhance this positive trajectory.
