Karachi: The Vice President of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) and Joint Secretary of the Businessmen Panel Progressive, Aman Paracha, has welcomed a 1.25% increase in textile exports during the first seven months of the current fiscal year, reaching $10.904 billion. However, he expressed concern over a significant 40.51% decline in rice exports and rising national imports, particularly of petroleum products and mobile phones, which are straining the national exchequer.

According to Federation of Pakistan Chambers of Commerce and Industry, the current fiscal period has shown some improvement in the textile sector, with knitwear, bedwear, and ready-made garments all experiencing growth. Despite this, Paracha highlighted the need for Pakistan to strengthen trade relations with European countries following a Free Trade Agreement between India and the European Union.

The press release further indicated a notable increase in mobile phone imports, despite local manufacturing, showing a 31.4% rise during the first seven months of the fiscal year. Paracha also noted that poor road conditions in Karachi are contributing to increased fuel expenses, exacerbating the country's petroleum import bill.

In terms of external accounts, Paracha expressed satisfaction with a current account surplus of $121 million in January 2026, although workers' remittances slightly declined from December 2025. He suggested offering a more favorable exchange rate to overseas Pakistanis to encourage more remittances and strengthen the national treasury.