CAD shrinks 66.5pc.

KARACHI -- The current account deficit fell by 66.5 per cent in first half of the current fiscal year.

The impressive reduction in deficit during the last six months is likely to bring down the current account in to net positive by the end of this fiscal year.

The SBP data showed the deficit during July-December was $2.153 billion compared to $8.614bn in the same period last year.

The major reason for the fall in current account deficit was the sharp decline in import bill which declined to $22.209bn in the last six months compared to $28.063bn last year.

If the current pace of decline continues, there is a high probability that the current account would end in surplus by the end of this...