ISLAMABAD: Advisor to the Prime Minister for Commerce and Investment Abdul Razaq Dawood said the government had set the export target of $35 billion for the upcoming Fiscal Year 2021-22.
The commerce adviser made the remarks while addressing the post-budget briefing flanked with Minister for Finance and Revenue Shaukat Tarin and other senior officials.
For fiscal year 2020-21, “We expect exports of $30 billion, including $25 billion exports in goods and $5 billion in services sector” the commerce advisor said adding, that for the next fiscal year (2021-22) they have enhanced the exports target to $35 billion.
The adviser said the government was focused on both traditional exports as well as innovative trade, including engineering, pharmaceuticals, information technology and food processing.
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He said the pharmaceutical sector performed well during the current year 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 $15.5 billion, which would further mount to $20billion 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 due to this policy of lowering tariffs on export’s raw material, the local manufacturing would achieve more growth, which would positively impact the country’s exports in the upcoming fiscal year 2021-22.
