- The current account surplus for December alone climbs to $582 million.
- The turnover surplus decreased by 15% compared to the previous month. .
- Prime Minister Shehbaz Sharif welcomes current account surplus.
KARACHI: Pakistan recorded its highest current account (CA) surplus in 15 years in the first half of the current fiscal year, driven by an increase in remittances and exports, News reported Saturday.
State Bank of Pakistan data released on Friday showed the CA surplus for the July-December period of fiscal 2025 stood at $1.2 billion, compared to a deficit of $1.397 billion during the same period last year.
The current account surplus for December alone jumped to $582 million, an increase of 109% year-on-year; however, it decreased by 15% from the previous month.
The current account figures were released following the UAE’s decision to roll over more than $2 billion in deposits with the SBP for another year. These deposits were due this month.
Prime Minister Shehbaz Sharif welcomed the current account surplus posted for the third consecutive month. The continued current account surplus for October, November and December 2024 reflects the good direction of economic policies, the Prime Minister said in a press release.
“We are actively working to further increase the surplus in the current financial year,” he added.
Further, while chairing a review meeting regarding goods in transit and tracking system on Friday, Prime Minister Shehbaz directed relevant authorities to install goods scanning system of international standards in Karachi and other other key trading centers to combat the smuggling problem in the country.