ISLAMABAD: The Ministry of Commerce is expecting exports of $ 7 billion during the first quarter (July-September) 2021-22 as compared to $ 5.474 billion during the same period of 2020-21, showing over 27 percent growth.

However, imports are expected to be $ 18 billion during this period as compared to $ 11.311 billion, posting a growth of around 60 per cent.

The sources said, imports are likely to be over $ 6 billion in September 2021, which is already a cause of concern for the government.

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According to sources, imports are far higher than the projections. Imports were higher in energy and food commodities. The government had also estimated Covid vaccine of $ 2 billion in the whole financial year, while its import was $ 1 billion in just two months, which has increased import figures.

The sources, however, maintained that when imports of Covid vaccine are excluded, imports will be around $ 17 billion.

The projection of 0.4 million tons of wheat import and sugar import will be rationalized in a week as provinces claim that they have enough stocks of both commodities.

Copyright Business Recorder, 2021