KARACHI
The three-month import ban imposed by the coalition government bore fruits as Pakistan’s current account deficit — the gap between the country’s higher foreign expenditure and low income — shrank by a massive 45% month-on-month. The current account deficit clocked in at $1.21 billion in July 2022 in comparison to a deficit of $2.2 billion (revised figure) in June, data released by the State Bank of Pakistan (SBP) showed. “The current account deficit shrank to $1.2 billion in Jul from $2.2 billion in June, largely reflecting a sharp decline in energy imports and a continued moderation in other imports,” the central bank said in a brief note released on its Twitter handle.
