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Saturday April 13, 2024

Import of food commodities affects current account: SBP deputy governor

By Our Correspondent
February 27, 2024
Screenshot of Deputy Governor State Bank Dr Inayat Hussain. — YouTube/CG AP
Screenshot of Deputy Governor State Bank Dr Inayat Hussain. — YouTube/CG AP 

BUREWALA: Deputy Governor State Bank Dr Inayat Hussain said that if the food commodities worth $8 billion had not been imported, the current account would have been in surplus.

During an event in Burewala, he said that 65 percent of the country’s population was directly related to the agriculture sector, and agriculture is the backbone of the country's economy. He said that the population of the country was increasing at the rate of 2 percent, and food commodities of worth $8 billion were imported last year.

He added that the core issue of country’s financial problems was the current account deficit, which could be resolved through improving the efficiency of the agricultural sector.