ISLAMABAD – Pakistan’s imports from China currently stands at over $16billion whereas export to China stand at over $2 billion showing the tradedeficit 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 ongoingfiscal 2018-19.
The government has asked the zero rated industry to enhance the exports ofthe country up to $27 billion by June 2019 arguing what the industry wantedhas been provided. “Though the target seems ambitious, but at the same timeit 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 arenow in spending mode and the second is that Pak rupee has been devalued for4 times,” the officials said adding: “We are expecting the growth in theexports as the international trends are going in favour.”
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The textile sector has been communicated that those business tycoons whogoes for value addition and increase their focus on garments will be morebeneficiary of the subsidy. In the supply chain, high end business houseswill be get more benefits. However, lower end business houses in the supplychain for example those who deal in yarns will also get the benefits of thesubsidy but at lower side.
Pakistan is braving right now the overall trade deficit of $37 billion asthe imports stand at $60 billion and exports are at $23.4 billion.
