Exports in October increased by 9.6%: Hafeez Shaikh

November 20, 2019

ISLAMABAD: Adviser to Prime Minister on Finance Dr. Abdul Hafeez Shaikh said that exports of goods in October have increased by 9.6 percent.

Dr. Abdul Hafeez Shaikh posted a tweet, “Exports of Goods & Services increased by 9.6% in Oct 2019. To provide easy working capital & funds for expansion, Govt & SBP will give additional Rs 300B in subsidized financing to exporters.”

Exports of Goods & Services increased by 9.6% in Oct 2019. To provide easy working capital & funds for expansion, Govt & SBP will give additional Rs 300B in subsidised financing to exporters & Rs 30B will be given in cash instead of promissory notes issued against tax refunds.
— Dr. Abdul Hafeez Shaikh (@a_hafeezshaikh) November 19, 2019

He added, “Rs30 billion will be given in cash instead of promissory notes issued against tax refunds.”

The country has recorded a current account surplus of $99 million in October 2019. The Current Account Deficit (CAD) lasted at $284 million in September 2019.

The current account deficit in the first four months of FY-19-20 amounted to $1.474 billion while it stood at $5.567 billion in the same period of the last fiscal year.

Also read: Business friendly changes made to curb under-invoicing: FBR

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