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Gold imports increase by 59% in July

Gold imports increase by 59% in July

ISLAMABAD: The imports of gold into the country increased by 59.11 percent during the month of July 2017 compared to the corresponding month of last fiscal year.

Pakistan imported gold worth US$2.096 million in July 2017 compared to the imports US$1.267 million imported in July 2016, according to trade data of Pakistan Bureau of Statistics (PBS).In terms of quantity, Pakistan imported 55 kilograms of gold in July 2017 against the imports of 35 kilograms, showing an increase of 57.14 percent.

On month-on-month basis, the gold imports into the country increased by 177.98 percent in July when compared to the imports of US$0.754 million recorded during June 2017, the data revealed.During June 2017, Pakistan imported just 19 kilograms of gold, showing a decline of 189 percent in imports of the commodity compared to the imports of July 2017.

It is pertinent to mention here that overall merchandise imports into the country increased by 24.85 percent by going up from $7.839 during the first two months of last fiscal year to $9.787 billion during the current year.

The exports from the country witnessed positive trend for the second consecutive month and grew by 11.80 percent as the exports from the country during July-August (2017-18) were recorded at $3.497 billion against the exports of $3.128 billion during July-August (2016-17).

Based on the figures, the trade deficit during the first two months of the current fiscal year was recorded at $6.290 billion which indicated an increase of 33.52 percent when compared to the deficit of $4.711 billion during the same period of last year. Rs34,814m released for NHA projects  under PSDP ISLAMABAD: The government has released Rs 34,814.070 million for National Highway Authority (NHA) projects under the Public Sector Development Programme (PSDP) till September 8.

Official source said on Friday, that a hefty amount of Rs 10,000 million has been released for under-construction Lahore-Abdul Hakeem section of motorway which would be completed next year.