Saturday, April 20, 2024

PM endorses a target of up to $40 billion in goods and services exports.

Abdul Razak Dawood, the Prime Minister’s Advisor on Commerce and Investment, stated that the textile export target had been set at $ 20 billion to $ 21 billion, with non-textiles at $ 11.5 billion, for a total of $ 32.5 billion. Services are expected to account for $7.5 billion.

Instead, the Commerce Advisor, who was supposed to unveil the export objective with Information Minister Chaudhry Fawad at a news conference, spoke with SAPM on Political Affairs Dr Shahbaz Gill. The export target was set at a meeting conducted in the Prime Minister’s office, which was attended by all interested parties.

A group of exporters met with the Prime Minister on Monday, according to Gill, who added that while several sectors have export potential, exports are currently negligible. Challenges in these sectors were reviewed in the discussion.

. In response to a query, SAPM Shahbaz Gill stated that the worldwide price of sugar has risen by 56 percent and that the government is combating the sugar cartel.

Pakistan’s exports hit $ 25.3 billion in 2020-21, according to the Commerce Advisor. According to him, exports in July totaled $ 2.3 billion, and Pakistan’s focus is now on “Make in Pakistan.”

Samsung did not come to Pakistan despite Razak Dawood’s invitations twice; nonetheless, the business has recently chosen to establish a plant in Pakistan.

In response to a question, he stated that motorcycle production would reach a new high in 2020-21 and that 10,000 motorcycles had already been ordered for export. According to Razak Dawood, Aamir Allawala has created a mobile phone factory in Karachi, and local mobile phone manufacture has already begun. He predicted that textile export dependency would reduce in the following five years as other sectors’ exports grew.

Related Articles

Latest Articles