Karachi: The current account balance regained its positive position by the end of first half of current financial year 2012-13 with $250 million amount recorded in surplus due to installment of $688 million from the United States on the account of Coalition Support Funds (CSF), State Bank of Pakistan (SBP) stated on Tuesday.
The current account was witnessed deficit of $2,426 million in the first half of the previous financial year.
The current account failed to sustain its surplus position as it turned into a deficit of $365 million in the first five months of current financial year 2012-13 due to trade imbalance and lower inflows of foreign reserves, but the receipt from USA improve the balance of payment situation of the country.
The current account surplus stood at $273 million in July to October 2012 though it posted a deficit of $638 million in November 2012 from $177 million deficit in October. The current account turned into positive with $697 million in December as compared $85 million deficit, SBP statics said.
The country’s current account position turned positive in the current financial year after it received the much-awaited amount of $1.2 million and $688 million from US against its efforts for war against terrorism.
The exports remained dismal totaling $1.2 billion in Jul-Dec whereas the imports recorded at $ 1.96 with paltry decline, hence the trade deficit stood at $7.61 billion in Jul-December 2012 as compared with $7.89 billion registered in the previous year.
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