The Finance Minister of Pakistan stated on Sunday that imports into Pakistan decreased by more than a third in July as a result of a restriction on non-essentials, and that the better trade situation will ease pressure on the weak currency.
According to Miftah Ismail during a news conference in Islamabad, imports dropped to $5 billion in July from a record high of $7.7 billion in June. This is a 35% decrease.
The Pakistan Statistics Bureau and the central bank have not yet published their July data.
“This is very welcoming,” Ismail said, adding it was the result of his government’s ban on all non-essential imports. “It will remove pressure on rupee,” he said.