ISLAMABAD (Eshfak Mughal):- The Finance Minister Miftah Ismail on Tuesday said that he expects the country’s import bill to be below to $5 billion in July due to decrease in oil imports.

In a tweet, the Miftah Ismail said that the Pakistan’s imports as of July 25 stood at $3.758 billion. He added that the country’s total import are likely to be $4.824 billion in July 2022.

The figures show that this trend is reflecting 37 percent decrease in July as compared to $7.722 billion in June 2022.

According to the Finance Minister, the trade figures are improving which are dire needs of the time for government for increasing forex reserves.

Last week, Finance Minister Miftah Ismail had told the media that the country has enough stock of oil products which will positively translate for reducing import bill during July. Some restrictions by the government on import of luxury items will also contribute for reducing import bill, he said.

On the other hand, forex reserves of State Bank were also depicting to $8 billion which are reducing $300 to $400 million weekly basis due to heavy debt servicing and debt repayments.

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