LAHORE: Pakistan will start export of mobile phones from next year and exporters should focus on nontraditional sectors to increase exports.
Talking with newsmen, Adviser to Prime Minister on Commerce, Textile, Industries, Production and Investment Razak Dawood said there is an acute dearth of manufacturing units for shirts, suits and ladies’ garments.
Dawood said exporters should focus on the sectors as the government would be more than helpful to facilitate and support them.
“We could take our exports to $200 billion within the next couple of years,” he said during a meeting with industrialists.
Dawood said Prime Minister Imran Khan will have two meetings. In the first meeting, they would decide export targets for the next financial year.
Another meeting will be held with Finance Minister Shaukat Tarin to resolve the issue of availability of yarn. Policy has been finalised for payment of duty drawback of local taxes and levies. It was intentionally ignored in the current budget and the government would finalise it after having a meeting with the finance minister, he said.
Dawood said he was scheduled to visit Uzbekistan as central Asian markets have potential of $90 billion and Pakistan must exploit it.
Commerce adviser said market conditions are changing and accordingly new challenges are cropping up and “we have to handle those with wisdom and prudence in the fast-changing business environment”.
Exports jumped to $31 billion last year and the lion’s share was contributed by the textile sector. The measures enabled exporters to explore new markets. Forty percent of raw materials are imported and duty on them was reduced to zero. Duty has been reduced to zero level on various textile raw materials including raw cotton, nylon, acrylic, viscos, and wool.
On inflation, Dawood said it is a major issue. Sustainability of economic growth is a major challenge after stabilising and improving the economic indicators. A series of meetings have been proposed with the stakeholders immediately after Eid. “Our economy is moving in the right direction and industry is making phenomenal growth,” he said.
