ISLAMABAD: The finance ministry told the National Assembly on Friday that the government had collected Rs1.34 trillion during the first 10 months (July 2025-April 2026) of the current fiscal year.
In a written reply to a question of Dr Sharmila Faruqui, the finance ministry said petroleum imports made around one-fourth of the total import bill.
During the first nine months (July-March) of FY2026, these accounted for 22.2 percent. Given the share, the current account is sensitive to the changes in the oil prices. However, in the first nine months of FY2026, the current account registered a surplus of $8 million, supported by 8.2 percent growth in workers’ remittances to reach $30.3 billion. The IT exports increased by 19.8 percent reaching $3.4 billion.
In March 2026, the current account recorded a surplus of $1.1 billion and despite high volatility in the oil prices, average Brent crude in March 2026 was recorded at $103.7 per barrels.
The latest external account position remains broadly consistent with the NEC-approved external sector framework reflected in the Annual Plan 2025-26.
The Annual Plan envisages a contained current account deficit of around $2.1 billion, equivalent to about 0.5 percent of GDP, and remittances to around US$39.4 billion. In addition, the foreign exchange reserves position remains strong. As of 30th April 2026, these were recorded at $21.3 billion.
Additional deposits of $3 billion have been received from Saudi Arabia, along with an extension in terms of the earlier $5 billion deposits. The government has issued Eurobonds in the international market and the IMF EFF program remains on track.
