Pakistan to increase exports to $250 b with Chinese collaboration

ISLAMABAD: The Federal government, in collaboration with China, has vowed to increase the country’s exports to $100 billion and take it to a whopping $250 billion in the second phase, ARY News reported.

According to details, the federal government has aimed at a 700%  increase in the country’s exports, and urged the Chinese government to collaborate to reach the target, sources said.

The government has formulated a plan to raise the country’s annual shipments to $250 billion.  In the first five-year phase, the annual exports would be raised to $100 billion, government sources said.

Pakistan and China have reached an accord to cooperate in raising the country’s exports. The two countries would form a common working group to implement the plan. The government and private sectors would be represented in the working group.

Also Read: Pakistan’s exports drop by 3.07pc in October: PBS

Pakistan would benefit from China’s vast experience in increasing the country’s shipments at a rapid rate. Agricultural, Industrial, and Trade sectors would be linked to the global China project, government sources said.

However, Pakistan’s exports dropped by 3.07% in October as compared to the previous month of September, the Pakistan Bureau of Statistics (PBS) reported on November 2.

According to a report issued by the Pakistan Bureau of Statistics (PBS), the exports declined by 3.07% and 3.77% on a monthly and annual basis respectively.

The PBS, in its report, stated that the exports in October decreased by 3.07% to $2.37 million as compared to September ($2.44 million).