Karachi, Jan 20 (PTI) Pakistan’s volume of exports would increase to around USD 27 billion in 2019, a top financial advisor to Prime Minister Imran Khan has said. Also Read - Bizarre! Denied Free Burgers, Pakistani Cops Arrest Entire Staff of a Fast Food Joint
The Imran Khan led government is facing increasing pressure for rising inflation, new taxes and an overall struggling economic picture since coming into power last year after the general elections. Also Read - Donald Trump Seen Singing & Selling Ice-Cream in Pakistan; Oh Wait, That's His Doppelganger | Watch
Adviser to Khan for Commerce, Textile and Industry Production Abdul Razak Dawood said that the target of exports the government had set by the year end was around USD 27 billion. Also Read - This Pakistani Artist Got Arrested by Lahore Police For a Bizarre Reason, Twitter Calls it 'Shameful'
This year we will achieve the target of setting a new record for highest exports from Pakistan and we are looking at around USD 27 billion of exports, Dawood said at an Edible oil conference here on Saturday.
The government is due to announce a mini budget on January 23rd in the National Assembly, which could bring more taxes and duties for the consumers and importers.
Stating that reducing imports was vital for economic growth, Dawood said the government is focusing on increasing volume of exports in 2019.
Official data by State Bank of Pakistan shows that total exports have yielded USD 11.5 billion in the first half of the current fiscal year which means another target of USD 15.5 billion has to come in the remaining months of the fiscal year.
Dawood said that the government was formulating a strategy to increase exports this year and added that the figures for December 2018 were much better than December 2017.
We have achieved success in acquiring a one billion dollar market in China for export of sugar and rice, he said.
Dawood admitted that one of the biggest challenges facing the country was current account deficit and the government was taking steps to resolve this.
He said the people would hear good news soon as the country’s economy was headed for improvement despite the difficulties.
Dawood said that as opposed to the past when the country was asking China for infrastructure projects under the China Pakistan Economic Corridor (CPEC), “we (current Government) are asking them for agricultural input”.
“We are pursuing an export-led growth strategy,” he said.
This is published unedited from the PTI feed.