Country’s exports register 2 percent increase, Senate told
ISLAMABAD: Adviser to the Prime Minister on Commerce, Textile, Industry and Production Abdul Razak Dawood on Friday apprised the Senate that the country’s exports witnessed 2 per cent increase during July 2019 to January 2020.
Responding to various supplementary questions during Question Hour, the Adviser said that the textile sector exports witnessed 25 per cent increase, poultry 50 per cent and fishery 28 per cent during the last period.
However, he said quantity wise exports registered upward trend but not value-wise due to prevailing recession at international level.
Abdul Razak said special focus was also being given to boost export of IT, chemical and engineering products. Gas and electricity tariffs were also fixed for export-oriented sectors, he added.
To another question, he said the Commerce Ministry was in the process of finalizing the Strategic Trade Policy Framework 2020-25, with an aim at addressing capacity constraints of competitiveness and factor productivity related issues that were hampering growth of small-scale entrepreneurs.
The Federal Cabinet has approved the National Tariff Policy (2019-24), on November 19, 2019. The policy aimed at making the tariff structure truly reflect trade policy priorities, improving competitiveness through duty-free access to imported inputs, rationalizing the tariff structure for enhancing efficiencies and reducing the relative “disincentive” for the exporting activities, he said.
To a separate question, Razak Dawood said as many as 43 commercial counselors were selected and 35 had already joined their duties. Proper training was given to them before posting them abroad, he said.
Vegetable exports increase 14.04% in 1st half of FY 2019-20: SBP
Exports of vegetable products from the country witness an increase of 14.04 percent during the first six months of the current financial year 2019-20 compared to the corresponding month of last year.
During the month of December 2019, the exports of vegetable products were recorded at $1582.786 million as against $1387.863 million exports recorded during the same month of last year, showing growth of 14.04 percent, according to the data issued by the State Bank of Pakistan.
The food commodities that contributed in positive growth of vegetable exports included edible vegetables, export of which grew from $92.611 million last year to $117.957 million during the current fiscal year, showing increase of 27.36 percent.
The exports of edible fruits and nuts increased by 7.62 percent, from $182.441 million to $196.361 million whereas the exports of cereals also increased by 23.38 percent, from $901.956 million to $1112.899 million.
Exports of vegetable planting materials grew by 50.52 percent from $3.339 million to $5.026 million, the data revealed.
On the other hand, the commodities that contributed in negative growth included coffee, tea, mate and spices, export of which declined from $68.973 million last year to $54.118 million during the current fiscal year, showing negative growth of 21.53 percent.
During the month under review, exports of oil seeds and oleaginous fruits decreased by 21.10 percent from $63.758 million to $50.303 million while the export of milling industry product also declined by 47.32 percent from $52.361 million to $27.582 million, the data added. – APP