Pakistan trade deficit $14b for 2009-10

ISLAMABAD: Minister for Commerce Makhdoom Amin Fahim on Friday informed the Upper House of the Parliament that the trade deficit from June 2009 to April 2010 was $14 billion.

In a written reply during the question hour session, he said the deficit during the fiscal year 2008-2009 was 19.249 billion, adding that the cause of the deficit was escalation in prices of fuel and food items.

He said the government took a number of measures including imposition of duty on non-essential luxury items and initiation of trade diplomacy measures for better market access via free trade agreements and preferential trade agreements with different countries.

To another question, he said the bilateral trade between Pakistan and Afghanistan is not governed under the Afghan Transit Trade Agreement (ATTA), and that it only obliges Pakistan to grant transit facilities to Afghanistan's global trade through the territory of Pakistan.