Pakistan's imports Rise by $2.085bn: Razak Dawood

Pakistan's imports increased by $2.085 billion during July-February 2021 as compared to the same period in last financial year, according to Abdul Razak Dawood, Adviser to Prime Minister for Commerce and Investment.

According to Razak Dawood, this increase in Pakistan’s import bill can be attributed to growth in wheat and sugar imports, which were required to stabilize the market prices for these two commodities.

In addition to this, cotton was also imported to facilitate the export-oriented industry and ensure that its exports are not hampered.

It is important to note that wheat imports amounted to US$ 909 million during July-February 2021, while imports for sugar and cotton were valued at US$126 million and US$ 913 million, respectively.

Moreover, Razak Dawood also explained that most of the growth in the import bill came from an increase in import of raw material and Intermediate goods, which increased by 7.8 percent.

On the other hand, the import of capital goods declined by 0.2 percent, while consumer goods imports fell by 7.3 percent during the same time period.

Razak Dawood says that this trend shows that "Make-in-Pakistan Policy of Ministry of Commerce (MOC) is delivering dividends and industrial activity in the country is increasing."