ISLAMABAD: Decreasing oil prices and recession in the international market have also affected Pakistan’s export.
Federal Minister for Commerce Khurram Dastgir Khan said this during the question hour session in the National Assembly. He said that decline in exports was due to decrease in prices of raw material and demand from importer countries.
This year Pakistan had exported 1,210 million metric tons of cotton, but the profit remained low due to decrease in prices, he said, adding that owing to decrease in leather and cotton cloth prices at the international market, the country’s exports suffered 10 percent value decline.
The minister said that all sectors need to be shifted on value-added tax, adding that the trade policy is giving incentives to exporters on value-added goods in terms of relief on duty drawback. Khan said that exports of readymade garments were 18 million dozens, which was three percent higher as compared to the last year and prices increase by four percent in the international market.
