ISLAMABAD: State Minister for Production Khawaja Sheraz Mehmood on Wednesday informed the National Assembly that the current account deficit of $ 2.1 billion was due to the high import of petroleum products, fertilizers and agriculture chemicals during first five month of the current financial year.
Replying to a Calling Attention notice moved by Muhammad Pervaiz Malik, Nuzhat Sadiq and others regarding increase in the current account deficit to $ 2.1 billion, he said that the government was making all out efforts and expressed the hope that the current account deficit would be controlled significantly in remaining seven month of the current fiscal year.
He said that the imports remained $ 16.5 billion during the said period registering 20 percent increase as compare to the last year. The exports also witnessed increased despite havoc by flood in some parts of the country, he added.
The minister said that more facilities would be provided to expatriates to get more remittances in the coming days.
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