Pakistan sets $35b exports target to boost industry

Islamabad—Government has allocated Rs18 billion to multiply sales volumes upto $35 billion a year and stem the country’s foreign trade, according to a report. Two key markets, UAE and Saudi Arabia, will be explored and targeted to multiply the export volume while latest fashionwear, mangoes, high-tech electronics and top-grade pharmaceutical are some of the exportable products, reported Khaleej Times. It said that the UAE’s current share of exports from Pakistan is four per cent, the Ministry of Finance said.
UAE not only imports a large number of items for its own use, but also serves as a transit point to import goods from Pakistan and several countries for sale and shipment to other countries in the Middle East, Africa and even South East Asia. It added that even Pakistan imports a large number of raw materials and consumer goods through the UAE, particularly Dubai, because it is an excellent transit point, has low-cost shipping tariff and efficient banking and communications.
The industry, business and exporters now have the latest version of the Strategic Trade Policy Framework (STPF) 2015-18. Implementation of these plans, through government funding for various industries and industrial units and training by foreign trainers, will enlarge output and offer high quality products to attract global consumers.—APP

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