The first quarter saw a CAD of $98 million, compared to $1.2 billion during the same time of the previous fiscal year, according to figures released by the State Bank of Pakistan (SBP) on Monday.
The government’s concession on economic growth by prohibiting the importation of raw materials needed to boost economic activity is reflected in the first quarter’s meager CAD.
Additionally, the government was able to maintain the CAD at its lowest level thanks to a 39 percent increase in remittances during the first quarter.
The State Bank corrected the current account, which now stands at $29 million after previously reporting a $75 million surplus in August.
September marks FY25’s second straight month of surplus.
