Summary The imports include spices worth Rs 3 billion
LAHORE (Dunya News) – In the first quarter of fiscal year 2015-16, at least Rs 80 billion were spent on imports of milk, tea, spices, edible oil and pulses.
At least Rs 14 billion have been spent to import pulses in the first quarter. At least 45 percent of pulses utilized across country are imported and not indigenous. Moreover, edible oil worth Rs 45 billion was also imported.
The imports include spices worth Rs 3 billion.
Tea imports amount to a total of at least Rs 12 billion in the first three months of FY 2015-16. Pakistan is among the five countries that top milk production in the world. However, the government had to import milk worth Rs 6 billion.
It was reported earlier that Pakistan’s exports stand at USD 5.16 billion after a 14 percent plunge. On the other hand, imports have reduced by at least 14.4 percent in July-September period. Imports worth USD 10.67 billion were recorded in the first three months of the ongoing fiscal year.
Trade deficit is holding position at US $5.5 billion in light of the current export and import situation of the country.
Industrialists and experts have held energy crisis and price not worth the product in international market reasons behind the plunge in exporting data.
The government has increased reliance on borrows to steady foreign reserves. Pakistan Bureau of Statistics issued the figures in the matter.
