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