Razak Dawood says govt overcoming economic challenges

ISLAMABAD: Adviser on Commerce Abdul Razak Dawood has said that incumbent government is overcoming challenges being faced by the economy.

Addressing in a seminar in Islamabad, Razaq Dawood said the government is systematically moving away from traditional export sectors to the new ones including pharmaceutical, engineering and Information Technology to significantly bolster the exports, reported Radio Pakistan.

The adviser noted that export led growth is important to save the country from debt trap.

Abdul Razak Dawood said Pakistan is now also exploring new markets for its products. He pointed out that Africa is an emerging market and we have prepared Look Africa policy to exploit this market.

We recently conducted a successful conference in Nairobi and more will be held in the near future to stay engaged with the African countries.

Read more: IT exports surged 23 per cent during first five months of FY 2019-20

Dawood said the pharmaceutical industry should prepare its export strategy and assured the government will extend full help to enhance this sector’s exports.

He assured to remove all the impediments in the way of development of industrial sector.

It may be noted that IT and  IT enabled services (ITes) export remittances surged to $439.9 mn at a growth rate of 23.35 % over the first five months of FY 2019-20 (July-November), in comparison to $356.6mn during the same period in last year