Islamabad, Aug. 13 -- Pakistan's trade deficit surged by a staggering 44 per cent in July, driven by a sharp increase in imports, raising fresh concerns about the country's economic situation, which is already in a crisis, The Express Tribune reported.

According to The Express Tribune, Pakistan's Planning Minister Ahsan Iqbal attempted to downplay the development, calling it a "temporary dip," and claimed it would be offset by future export growth tied to rising imports of raw materials.

Speaking at the launch of the Pakistani government's first monthly development report for fiscal year 2025-26, Iqbal insisted that Pakistan's exporters could benefit from preferential US tariff rates, but only if they managed to enter global markets, so...