In the past year, Pakistan has witnessed a rising trend in exports and its IT industry is also developing at a good pace. Now according to Adviser to the PM on Commerce, Textile, Industries, Production and Investment, Razak Dawood said that Pakistan will begin to export mobile phones from 2022. Moreover, he said that exporters should emphasize nontraditional sectors to boost exports. Furthermore, Razak Dawood said that there is an acute shortage of manufacturing units for shirts, suits, and ladies’ garments.
Pakistan will Export Mobile Phones from 2022, Says Commerce Adviser
During a meeting with industrialists, Dawood said,
We could take our exports to $200 billion within the next couple of years.
In addition to that, the adviser told that Prime Minister Imran Khan will hold a couple of meetings. In the first meeting, we would negotiate on export targets for the upcoming financial year. The second meeting will be held with Finance Minister Shaukat Tarin to solve the issue of availability of yarn. The policy draft has been completed for payment of duty drawback of local taxes. He said,
It was intentionally ignored in the current budget and the government would finalize it after having a meeting with the finance minister.
Razak Dawood further said that market conditions are in constant flux and accordingly new impediments are cropping up and “we have to handle those with wisdom and prudence in the fast-changing business environment”.
While sharing some data, Mr. Razak said that country’s exports increased to $31 billion in the fiscal year 2020-21 and the primary contributor was the textile sector. The steps allowed exporters to search for new markets which made a significant difference.