Pakistan and Afghanistan agreed on extending the APTTA for six months and 97% work on the agreement has been completed, said the Ministry of Commerce secretary.
Trade activities soar to multi-year high
Surge comes on back of government’s policies to ramp up economy amid pandemic
KARACHI:
Pakistan’s import and export activities geared up to multi-year high in the fiscal year ended June 30 in the wake of government policies to ramp up economic activities to get out of the Covid-19 pandemic stress. However, the growth strategy has weakened the country’s capacity to make international payments for imports and foreign debt repayments.
The trade deficit surged by a massive $30 billion in FY21 and mounted pressure on rupee against the US dollar, as it dropped to a nine-month low at $161.48 to the greenback on Tuesday, the last working day ahead of Eidul Azha holidays.
SBP releases second quarterly report on state of Pakistan s economy dailytimes.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailytimes.com.pk Daily Mail and Mail on Sunday newspapers.
SBP releases second quarterly report on state of economy
Jun 3, 2021
KARACHI: The State Bank of Pakistan (SBP) released on Thursday its second quarterly report on the state of Pakistan’s economy for the fiscal year 2020-21.
The report highlighted the strengthening of the economic recovery during the second quarter of the fiscal year, which, it said, was evident from the growing pace of industrial activity, promising output of major Kharif crops (with the exception of cotton), and a pick-up in the services sector during the review period.
The large-scale manufacturing (LSM) grew by 7.6 percent during H1-FY21, with its growth in the second quarter accelerating to 10.4 percent, the highest quarterly LSM growth since Q4-FY07, the report said.