*ISLAMABAD: **PTI government manages to save precious $6 billion forcountry in FY 2019 on account of trade deficit.*
The Pakistan Tehreek-e-Insaf (PTI) government has managed to narrow downthe trade deficit by 15.3% to $31.8 billion on the back of importcompression but it failed to enhance exports, which fell even below thelevel left behind by its arch-rival – the Pakistan Muslim League-Nawaz(PML-N).
Trade figures released by the Pakistan Bureau of Statistics (PBS) on Fridayshowed that exports contracted both on month-on-month and year-on-yearbasis in June despite over one-third depreciation of the rupee against theUS dollar. The PTI government missed its export target by $4 billion astotal exports stood below $23 billion at the end of fiscal year 2018-19.
It also missed the trade deficit reduction target by $5.8 billion, althoughthe gap between exports and imports shrank 15.3%.
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Overall, the trade deficit, which stood at $37.6 billion in the precedingfiscal year, shrank to $31.8 billion in the just ended fiscal year 2018-19,the PBS reported. In absolute terms, there was a reduction of $5.8 billionin the trade deficit and the entire reduction came from the import side.
