Islamabad (Commerce Desk) An increase in the inflation rate has been recorded in the first nine months of the current fiscal year.
According to the monthly development report of the Ministry of Planning, the inflation rate from July to March rose to 5.7 percent, compared to 5.3 percent in the same period last year.
The report stated that during this period, exports declined by 1.2 percent, while foreign investment witnessed a significant decrease of 33.4 percent. On the other hand, imports increased by 8.3 percent.
The Federal Board of Revenue collected taxes worth 9,306 billion rupees, showing a 10.1 percent increase compared to 8,453 billion rupees in the same period last year.
Remittances also showed an increase, with overseas Pakistanis sending 30.3 billion dollars to the country, compared to 28 billion dollars last year.
According to the report, total exports stood at 30.6 billion dollars, while imports increased to 56.3 billion dollars. It further stated that foreign investment declined by 33.4 percent during the first nine months of the current fiscal year.
