Ex­ports ex­ceed $25b for first time in coun­try’s his­tory

The Pak Banker - - NATIONAL -

Min­is­ter for Com­merce En­gi­neer Khur­ram Dast­gir Khan Wed­nes­day told Na­tional As­sem­bly (NA) that Pak­istan's ex­ports ex­ceeded $ 25 bil­lion tar­get for the first time in coun­try's his­tory.

He said in 2014-15 neg­a­tive growth in ex­ports was wit­nessed due to sig­nif­i­cant de­cline in the global prices of cot­ton, leather prod­ucts and bas­mati rice as Pak­istan's ex­port is de­pen­dent on th­ese prod­ucts. He said de­cline in the value of cur­rency has made a dif­fer­ence to the com­pet­i­tive process, adding that for China Pak­istan Eco­nomic Cor­ri­dor (CPEC) pro­ject in­fra­struc­ture would be built for which steel and other ma­te­ri­als would be re­quired to im­port as our lo­cal in­dus­try is not in a po­si­tion to meet the huge tar­get. He added that ap­pro­pri­ate mea­sures would be taken for anti-dump­ing of steel.

Re­spond­ing to a ques­tion he said the Eco­nomic Co­or­di­na­tion Com­mit­tee (ECC) had im­posed ban on live­stock ex­ports due to which an in­crease was wit­nessed in meat ex­port from 190.2 mil­lion $ to 210.5 mil­lion $ and fur­ther in­crease is ex­pected. He said that Pak­istan has to in­crease trade with re­gional coun­tries in­clud­ing Afghanistan, Iran and Middle East and will have to take cer­tain mea­sures for the in­dus­try. Khur­ram Dast­gir in re­sponse to a ques­tion said ac­cord­ing to World Bank data­base the stan­dard ra­tio of ex­ports of goods and ser­vices in terms of global GDP is 29.6 per­cent, whereas Pak­istan had 12.28 per­cent rate in 2014 in this re­gard.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.