PAKISTANI EXPORTERS UPSET OVER DEVALUATION OF LOCAL CURRENCY IMPACTING EXPORT LEVELS
July 1st, 2018
PAKISTANI textile exporters fear further devaluation of their currency will escalate the already high cost of doing business in the country and lead to a decline in export volumes, despite the edge cheaper currencies can offer in overseas markets.
According to the Pakistan Bureau of Statistics (PBS), in 11 months of the current fiscal year 2017-18, textile exports rose by 9.82% to USD12.336 billion compared with USD11.23 billion for the corresponding period in 2016-17. Likewise, the country’s total exports surged by 15.3% to USD21.345 billion in the period ...
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