Sunday, May 9, 2021

Pakistan’s CAD shrinks by 4.43pc in 1HFY19

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Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]
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Pakistan’s current account deficit (CAD) has reduced by 4.43 percent in first half of current fiscal year (1HCFY19) due to increase in regulatory duties on imports and worker’s remittances.

 

CAD shortfall was at $7.983 billion during July to December of fiscal year 2018/2019 as compared with deficit of $8.353 billion.

 

NBFI

Overseas Pakistani workforce remitted $10.719 billion in the first half (July to December) of FY19, viewing a progress of 10 percent compared with $9.745 billion received during the same period in the previous year.

 

Trade shortfall lessened by 5.7 percent to $16.82 billion during first half of current fiscal year (1HCFY19) as compared with the shortfall of $17.72 billion.

 

 

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