Pakistan govt fails to meet export target for fiscal year 2024-25

Islamabad [Pakistan], July 2 (ANI): The Pakistani government has not met its export target for the fiscal year 2024-25, ARY News reported, citing data from the Pakistan Bureau of Statistics (PBS).

According to data released by PBS, the volume of exports during the fiscal year 2024-25 was USD 32.106 billion, falling short of the government's target of USD 32.341 billion.

Meanwhile, Pakistan's total exports stood at USD 58.38 billion, surpassing the official target of USD 57.283 billion. The annual trade deficit reached USD 26.274 billion, exceeding the projected gap of USD 24.941 billion. Although the targets were missed, exports showed a year-on-year growth of 4.67 per cent, while exports witnessed a rise of 6.57 per cent.

The larger-than-expected import volume and the shortfall in exports contributed to the increase in the trade deficit, resulting in Pakistan's government facing continued challenges in external account management, ARY News reported.

On Tuesday, Pakistan's Ministry of Maritime Affairs cut down charges for export and transhipment containers through the Pakistan Bureau of Statistics by 50 per cent.

According to the notification, the revised charges took effect on July 1, 2025. The decision intends to provide 'relief' to the trade sector and stimulate economic growth.

The reduction is applicable to export cargo at Port Qasim, including Marginal Wharf, FOTCO, and PIBT, where wharfage charges for export and transhipment containers have been reduced by half, ARY News reported.

Furthermore, the charges for containerised cargo at DP World have been eased. As per the notification, empty containers will receive no concessions. (ANI)

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