Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (), has expressed grave concerns over the critical expansion in Pakistan’s trade deficit. The deficit surged by 20.28% to reach $32 billion during the first 10 months of the current fiscal year (July-April FY26).
The Chief highlighted that during July to April period of FY26, Pakistan’s import bill climbed by nearly 7%, reaching a staggering $57.19 billion. In contrast, total export proceeds over the same ten-month time-frame contracted by 6.25% – falling to $25.21 billion from $26.89 billion in the corresponding period last year.
Mr. Saquib Fayyaz Magoon, SVP , stated that while April witnessed a 14.03% year-on-year recovery in monthly export receipts, reaching $2.48 billion, this growth was entirely eclipsed by massive import payments. The monthly imports surged by 7.46% year-on-year and a dramatic 28.41% month-on-month, clocking in at an overwhelming $6.55 billion.
reiterated that temporary import compression tactics have failed – structural export weaknesses must be immediately addressed. The apex body advocates for immediate pivot toward export-led economic growth, including reducing the crippling cost of industrial production by rationalizing electricity and gas tariffs for export-oriented industries and introducing targeted tax incentives for non-traditional export sectors.