A good news for Pakistan on the economic front

Shares
A good news for Pakistan on the economic front

*ISLAMABAD: Pakistan’s exports increased by 14.23pc in July this year as compared to the same month of last year, the Ministry of Commerce said on Thursday.*

According to the ministry Pakistan’s imports also reduced by 18.39 percent in the month of July.

In term of dollars, the country’s exports increased from $1.63 billion in July 2018 to $1.87 billion in July this year, the commerce ministry officials said.

The imports from other countries also reduced by 18.39 percent during the month.

During the period under review, an increase in exports was witnessed in various sectors of the economy, including rice (71 pct), ready made garments (17 pct), home textiles (14 pct), plastic goods (34 pct), chemicals (26 pct), mangoes (33 pct) and footwear (24 pct), the ministry said.

Adviser to Prime Minister for Commerce Abdul Razak Dawood in a recent press talk said that China-Pakistan Free Trade Agreement (CPFTA), a comprehensive tariff policy, reforms in National Tariff Commission (NTC) and an increase in local exports were the major hallmarks of his ministry in the first year of this government.

He said that Afghanistan had offered a Preferential Trade Agreement (PTA) to Pakistan in order to enhance trade between the two countries.

He said that both countries were willing to increase the volume of bilateral trade.