C/A posts $160m surplus in Dec

KARACHI: Despite a steep fall in foreign inflows, the current account posted a surplus of $160 million in December but the performance during the first half of the current fiscal was not impressive when compared to the same period in the last fiscal. The State Bank of Pakistan (SBP) on Tuesday reported that the current account was surplus in December by $160 million which was surprising as the current account was in deficit by $688 million in November. Analysts maintain that the surprise surplus was due to higher inflows of remittances sent by the overseas Pakistanis and does not reflect an increase in exports. However, this positive development on external front reduced the current account deficit to $2.154 billion during July-December...

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