Pakistan's exports to Europe rise to $3.8b in 1st 5 months of FY2024-25

ISLAMABAD: Pakistan’s exports to Europe surged to 3.8 billion dollars, reflecting an 8.62 per cent increase in the first five months of current FY2024-25.

The growth, driven by the efforts of Special Investment Facilitation Council, includes key sectors such as textiles, leather, garments, sports goods and surgical instruments.

In October 2023, the European Parliament approved the extension of Pakistan’s GSP Plus status until 2027.

The GSP Plus scheme provides preferential market access and exemptions from duties on certain goods for developing countries.

Earlier, Minister of State for Information Technology and Telecommunication Shaza Fatima Khawaja said that Pakistan’s Information and Computer Technology (ICT) services export remittances recorded a 28 per cent increase.

Read more: Pakistan’s ICT exports remittances up by 28pc: Shaza Fatima

Replying to a query during the Question Hour in the National Assembly, Shaza Fatima said that the ICT exports reached approximately $1.86 billion during the first six months of the current financial year.

She attributed the growth to ‘improved’ internet usage and speed in the country. The minister also acknowledged that internet users are facing challenges, emphasising that efforts are underway to address these issues.

“At present, WhatsApp is fully functional, and all VPNs are operational,” she said.

The minister said that the Pakistan Telecommunication Authority (PTA) operates a 24/7 service center to register complaints, assuring that technicians are dispatched promptly to resolve issues. “My primary duty is to protect and promote the IT industry,” she added.