Pakistan will begin exporting smartphones and motorcycles next year, as announced by Adviser to the Prime Minister on Commerce, Textile, Industries, Production and Investment Abdul Razak Dawood.
He further said that exporters should emphasize the unconventional industries to enhance exports.
Adviser to the Prime Minister on Commerce, Textile, Industries, Production and Investment Abdul Razak Dawood elaborated that there is a critical lack of assembling units for shirts, suits, and ladies garments and that exporters should target on the industries as the government will enable and assist them.
We could determine our exports to two hundred billion dollars within the next couple of years,” he said during a summit with capitalists.
Commerce minister Abdul Razak Dawood said that Prime Minister Imran Khan will have two sessions the first one will be to determine the export targets for the next fiscal year; and the second one will be with the Minister of Finance, Shaukat Tarin, to decide the equipment of the accessibility of yarn.
A policy has been concluded for the remittance of duty disadvantages of the internal taxes and levies. It had been globally disregarded in the current budget, and the government will resolve it after a session with the Minister of Finance, Dawood described.
He also showed that he was organized to visit Uzbekistan as the Central Asian markets have a power of ninety billion dollars and Pakistan must utilize it.
He also said that the market conditions are alternating and that new confronts are happening properly, for which we have to control those with sagacity and judgment in the fast-converting business condition.
The exports had increased to thirty-one billion dollars the previous year, with the major share having been imparted by the textile industry. The steps had allowed the exporters to discover new trades. Forty per cent of raw materials are contributed and the duty on them had been mitigated to zero. Duty has been minimized to zero levels on different textile raw products containing raw cotton, nylon, acrylic, viscose, and wool.
While saying about the price hike, Dawood revealed that it is a huge problem. The maintainable of economic development is a vital confront after the modification and refinement of the economic measures.
Our economy is advancing in the right regulation and industry is utilizing exceptional development, Dawood elaborated and further said that the government had obtained its growth goals during the last three years and now the challenge is to assure the maintainability of economic development.
Ihtisham Javed President of the Faisalabad Chamber of Commerce and Industry described that Pakistan can increase its exports to twenty-five billion dollars as the government has introverted duties on sixteen hundred additional tariff lines.
Simultaneously, Dawood undertook a session of the All Pakistan Bed-sheets and Upholstery Manufacturers Association.
