Pakistan, Aug. 13 -- Pakistan's trade deficit jumped 44% in July, reaching $2.7 billion, mainly due to a sharp rise in imports. Planning Minister Ahsan Iqbal called it a "temporary dip" and expressed confidence that increased exports would soon balance the gap. He explained that higher imports of raw materials would help manufacturers produce more goods for foreign markets, boosting overall exports in the coming months.

Iqbal highlighted that the government had reduced import tariffs under IMF and World Bank guidelines, aiming to encourage trade and attract investment. Some analysts believe the surge in imports is partly because businesses delayed shipments to take advantage of lower rates at the start of the new fiscal year. Despite the...