Exports grow by 7 per cent: Razak Dawood

LAHORE: Adviser to Prime Minister on Commerce Abdul Razak Dawood here on Tuesday  said that Pakistan’s  exports increased by seven percent as production line went up despite difficult environment.

Talking to Chairman Faisalabad Industrial Estate Development and Management Company, Mian Kashif Ashfaq in Lahore on Tuesday, Dawood said, “The trade gap is narrowing down as exports are showing steadying trajectory while imports have reduced by four billion dollars.”

He said in term of quantity, the exports of garments went up by 29 percent, cement 25 percent, basmati rice 21 percent and footwear 26 percent in the current fiscal year.

The advisor said the situation on economic front was not as bad as being portrayed by some quarters and added that the government provided subsidy to export-oriented sector on electricity and gas and it would be continued in coming year.

Read More: Pakistan’s exports to China grow by 3.93pct in eight months

Earlier on May 12, Pakistan’s exports of goods and services to China  grew by 3.93 percent during the first eight months of the current fiscal year compared to the corresponding period of last year, the State Bank of Pakistan (SBP) had reported.

The SBP had reported that overall exports to China had been recorded at more than 1150 million dollars during July-February (2018-19) against exports of over 1,107 million dollars during July-February (2017-18).