Pakistan’s imports increases by $ 2.085 Billion: Razak Dawood

Adviser to Prime Minister for Commerce and Investment, Abdul Razak Dawood on Tuesday said that Pakistan’s imports increased by $ 2.085 billion during July to February 2021 as compared to the same period in last Fiscal Year 2020.

The Ministry of Commerce (MOC) had conducted a preliminary analysis of this increase in import , the adviser said this on his official twitter account.

He informed that during Jul-Feb 2021, the import of Wheat amounted to $ 909 million, Sugar $ 126 million and Cotton $ 913 million (total of $ 1,948 million).

According to the provisional data, imports during July to February 2021 of this Financial Year (FY) increased as compared to the same period in last Fiscal year, he said.

The adviser said that it had transpired that most of this growth came from increase in import of raw material and Intermediate goods, which increased by 7.8 percent.

He said the import of Capital Goods declined by 0.2 percent, while that of Consumer Goods decreased by 7.3 percent.

Razak Dawood said this shows that the Make-in-Pakistan Policy of MOC was delivering dividends and industrial activity in the country was increasing.

The import bill this year also increased because, we had to import Wheat and Sugar to stabilize the market prices” he added.

He said that Cotton was also imported to help the export-oriented industry so that the exports were not hampered.