| GEO Business|
| Import bill declined by 23.9pc in November|
| Updated at: 1617 PST, Tuesday, December 30, 2008|
KARACHI: Pakistan import bill has declined by 23.9 percent in November, in wake of persistent falling demand of import goods due to economic slowdown.
Despite low demand of the imported goods during July-November, 2008, the hikes in their prices had widened the trade deficit, but now their imports have started falling in the wake of government measures. During July-November, 2008, trade deficit was seen slightly shrunk due to increasing supplies and decline in import bill in November. Foreign exchange reserves had diminished to an alarming level in the wake of fast widening current account deficit and plummeting foreign investment, which had culminated into grievous balance of payments situation during July-November.