Pakistan’s exports witness 2pc increase in last 6 months, Razzaq Dawood
However, according to Dawood, due to the prevailing recession internationally, value-wise exports were not registered upwards.
Adviser to the Prime Minister on Commerce, Textile, Industry, and Production, Abdul Razak Dawood informed the Senate that Pakistan witnessed a 2 percent increase in the exports between July 2019 to January 2020.
Replying to questions during Question Hour, he informed the Senate during the said period, a 25 percent growth in the textile sector, 50 percent in the poultry sector, and a 28 percent increase in the fishery sector was observed.
However, according to Dawood, due to the current recession internationally, value-wise exports were not registered upwards.
Abdul Razak added that to increase the exports of IT, chemical and engineering products, the government is undertaking special measures. Furthermore, gas and electricity tariffs have also been fixed for export-oriented sectors.
He also added that the Commerce Ministry is working to finalize the Strategic Trade Policy Framework 2020-25. The goal of the policy framework is to address the capacity constraints in competitiveness and factor productivity-related issues.
Dawood said the National Tariff Policy (2019-24) was approved by the Federal Cabinet on November the 19th, 2019.
~ The objective of the National Tariff Policy (2019-24) policy is to:
- make the tariff structure truly reflect the government’s trade policy priorities,
- improve competitiveness through duty-free access to imported inputs,
- rationalize the tariff structure for enhancing efficiencies
- reduce the relative “disincentive” for the exporting activities.
While answering another question, Dawood said that 43 commercial counselors were selected, and 35 had already joined their duties. According to him, before sending them abroad they were receiving proper training.
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