KARACHI: Pakistan's current account surplus for July-March period was a provisional $99 million, compared with a deficit of $3.106 billion in the same period last year, the central bank said on Monday.

In March, the current account was a provisional surplus of $347 million, compared with a deficit of $2 million in February. The current account deficit for the fiscal year 2009/10 was $3.946 billion, compared with $9.261 billion in fiscal year 2008/09.

KEY POINT

In March, current transfers amounted to $1.6 billion, out of which remittances from overseas Pakistanis totalled $1.053 billion.

COMMENTARY

ASIF QURESHI, DIRECTOR AT INVISOR SECURITIES LTD

“The main reason for the surplus in March is because of the current transfers, but $1.6 billion does not seem sustainable as there's no clear reason why it is increasing.”

KHALID IQBAL SIDDIQUI, DIRECTOR AT INVEST & FINANCE SECURITIES LTD

“The surplus is due to a narrowing of the trade deficit and record level of remittances in March.”