Govt sets exports target of $ 35b for FY 2021-22: Razak

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Islamabad

Advisor to the Prime Minister for Commerce and Investment Abdul Razaq Dawood on Saturday said the government had set the exports target of US $ 35 billion for upcoming Fiscal Year 2021-22.

In current FY 2020-21, “We expect exports of US $ 30 billion, including US $25 billion exports in goods and US $ 5 billion in services sector” the Advisor commerce Abdul Razak Dawood said adding, that for the next fiscal year (2021022) they have enhanced the exports target to US $ 35 billion.

He made these remarks while addressing the Post- Budget 2021-22 briefing flanked with Minister for Finance and Revenue Shaukat Tarin and other senior officials of the government here.

He said the government was focused on both traditional exports as well as innovative trade, including engineering, pharmaceuticals, information technology and food processing.

The advisor said during the current year, the pharmaceutical sector performed well and efforts would continue to promote imports of this sector in upcoming years.

Likewise, he said, the textile sector also performed well as its exports touched US $ 15.5 billion, which would further mount to US $ 20 billion next year.

Razak Dawood said in the next budget the government has lowered the tariff duties on the export’s raw material for encouraging the ‘Make in Pakistan’ good to enhance our country’s exports.

He hoped that because of this policy of lowering tariffs on export’s raw material, our local manufacturing would achieve more growth, which would positively impact the country’s exports in the upcoming fiscal year 2021-22. —APP

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