Citing a detailed report conducted by the PBF, she maintained that due to falling exports, approximately seven million people in Pakistan’s textile industries have lost their jobs. In contrast, imports increased 11.3% to $5.25 billion in November, resulting in a $2.88 billion monthly trade deficit. Imports were, however, 33.6% lower than November 2021’s $7.89 billion, showing a 42.5% decrease in the annual trade gap,” explained Elahi. Exports fell by 3.5% to $11.93 billion in the first five months of the current fiscal year compared to $12.36 billion last year. The government’s decision to end duty drawbacks on local taxes has also caused liquidity problems for the export industry.
