Diethylmethylbenzenediamine Pakistan’s import bill will once again enhance near to $50 billion during upcoming financial year 2017-18 mainly due to heavy imports of food commodities, machinery and oil products.

Pakistan’s import bill is likely to reach $54 billion during outgoing financial year 2016-17. However, the government has estimated to bring down the import bill to $48.9 billion in the next fiscal year. The government has estimated food imports at $5.7 billion in the year 2017-18. Similarly, the government has projected machinery import at $7.5 billion, transports group $2.7 billion, and metal group at $3.7 billion for the next financial year, according to the Annual Plan 2017-18.

Chemical Industry News of oil products would cost $11.1 billion to the national kitty. The break-up of oil import showed that government would import petroleum products worth $6.7 billion and petroleum crude worth of $3 billion. Meanwhile, the government would also spend huge amount worth $7.4 billion on importing agriculture and chemical goods. Similarly, the government has estimated $10.6 billion for the import of other products.

The Annual Plan showed that the government has estimated exports at $23 billion for the next fiscal year 2017-18 as against $21.8 billion of the outgoing year, showing growth of 5.5 percent.

The break-up of exports showed that government has projected food exports at $3.7 billion. Similarly, textile exports would fetch $13.2 billion in the year to come. In textile exports, cotton yarn exports are projected at $1.2 billion, cotton cloth at $2.2 billion, knitwear at $2.5 billion, bed wear at $2.2 billion, readymade garments at $2.5 billion and other textile products at $2.5 billion.

Similarly, the government has planned to export manufacturers’ goods worth $3.9 billion. In this group, exports of sports goods are estimated at $558 million, leather tanned and manufactures at $911 million, chemicals and pharmaceutical products at $1.1 billion, cement at $320 million and other products at $977 million during the year 2017-18.