The federal government is likely to set the export target for the next fiscal year (FY24) at $30 billion.
Sources told ProPakistani that the Ministry of Commerce has proposed to fix an export target of $30 billion for the next fiscal year while the import target is likely to be set at $62 billion.
It is pertinent to mention here that for the current fiscal year (FY23), the export target was set at $32 billion dollar while the import target was set at $68 billion.
Sources said that export during the current year will remain around $28 billion while imports are likely to be around $56 billion due to government policies.
According to the latest data issued by the Pakistan Bureau of Statistics (PBS), the country’s exports during July-April FY23 were recorded at $23.174 billion against the exports of $26.247 billion in July-April FY22, showing a decline of 11.71 percent.
The imports decreased by 28.44 percent during the period, going down from $65.519 billion last year to $46.887 billion during the current year.
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