Monday, June 17, 2024

Pakistan’s Exports Cross $2 Billion Mark for Four Consecutive Months

For the fourth consecutive months in January, Pakistan’s monthly exports continued to remain above the $2 billion level, Trade Adviser said Monday as exporters are recovering their losses with trade stimulus.

“Exports have sustained growth and exports have reached the $2 billion mark in four consecutive months for the first time in 8 years. Our January 2021 exports have risen by 8% to $2.14 billion, compared to $1.98 billion in January 2020,” Razak Dawood, adviser on commerce and investment wrote on twitter. Exports rose by 5.5 percent to $14.2 billion for July-January 2020-21, compared to $13.5 billion over the same period a year earlier.

The central bank gave a mark-up subsidy score for financing schemes, while reducing the interest rate to 7 percent to 625 basis points.

The commerce adviser told the business community that there was continued support for development. “A growing trend is seen in our cumulative exports for the seven months of FY 2020-21. Despite the difficulties produced by the COVID pandemic, the regional export situation and the downturn in major markets, our exporters have achieved this feat,” said Dawood. In exporting your goods, please go full steam ahead of exporters and notify MOC (Ministry of Commerce) in case of any obstacle.”

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