Federal government takes important decision over exports of the country
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ISLAMABAD - Pakistan’s imports from China currently stands at over $16 billion whereas export to China stand at over $2 billion showing the trade deficit of over $14 billion which is heavily in favour of China.
Imran Khan government has decided to jack up the exports of the country to $27 billion from existing $23.4 billion in nine months of the ongoing fiscal 2018-19.
The government has asked the zero rated industry to enhance the exports of the country up to $27 billion by June 2019 arguing what the industry wanted has been provided. “Though the target seems ambitious, but at the same time it is realistic as well.”
“We are sure that the target will be achieved on account of two reasons; one is that global economies have started recovering and their masses are now in spending mode and the second is that Pak rupee has been devalued for 4 times,” the officials said adding: “We are expecting the growth in the exports as the international trends are going in favour.”
The textile sector has been communicated that those business tycoons who goes for value addition and increase their focus on garments will be more beneficiary of the subsidy. In the supply chain, high end business houses will be get more benefits. However, lower end business houses in the supply chain for example those who deal in yarns will also get the benefits of the subsidy but at lower side.
Pakistan is braving right now the overall trade deficit of $37 billion as the imports stand at $60 billion and exports are at $23.4 billion.
