Trade with Sri Lanka: Pakistan to ship $50,000 worth of fans

Published: March 2, 2016
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Overall exports to Colombo expected to rise 100% to $500m. PHOTO: gfcfans.com

Overall exports to Colombo expected to rise 100% to $500m. PHOTO: gfcfans.com

KARACHI: GFC Fans, one of the leading electric fan manufacturers in the country, is going to ship fans worth $50,000 to Sri Lanka, the Trade Development Authority of Pakistan (TDAP) announced on Tuesday.

The company received the order while participating in Pakistan’s first single-country exhibition in Sri Lanka. The event, held from January 15-17, 2016, was organised by the TDAP, a government body responsible for promoting exports.

Government facilitates potato exports

Gujrat-based GFC began manufacturing electric fans in 1954. It started exporting the fans in 1993 and shipments crossed $13 million in financial year 2012-13.

The company’s products went to over 30 countries including the US, UK, France, Italy, Malaysia, Bangladesh, Sri Lanka, Gulf and African nations.

According to the TDAP, overall exports from Pakistan to Sri Lanka are expected to increase around 100% to $500 million from the current $267 million within a year.

At present, the trade balance is heavily in favour of Pakistan as its exports to Sri Lanka amounted to $267 million while imports were worth just $58 million, according to the 2014-15 data of the Pakistan Bureau of Statistics.

Trade map: Why are Pakistan’s exports declining?

Pakistan and Sri Lanka, despite enjoying exceptional bilateral ties, have failed to fully utilise the free trade agreement that came into effect in 2005. Trade between the two countries rose considerably after the deal but it remained range bound with an average of $350 million for the last six years.

Published in The Express Tribune, March 2nd, 2016.

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Reader Comments (8)

  • Haji Atiya
    Mar 2, 2016 - 6:29AM

    It’s amazing that since Partition, Pakistan has not progressed from producing anything more sophisticated than the simple electrical fan in the consumers electrical/electronics appliance sector !!Recommend

  • Spock
    Mar 2, 2016 - 1:37PM

    50K business and it makes the news! What have things come down toRecommend

  • Shakil Ahmed
    Mar 2, 2016 - 4:51PM

    @Haji Atiya:
    Wrong assumption! Pakistan is almost self sufficient in producing all electronics and home appliances LED TVs, fridge freezers, microwaves etc all locally manufactured with strong local brands. Pakistan need to exploit the export market though.

    50K deal is peanut to make a news, almost every factory in Sialkot doing way more export than that. Recommend

  • Haji Atiya
    Mar 2, 2016 - 7:35PM

    @Shakil Ahmed:
    Ok, name me a local brand LED TV or smartphone with 100% local content ?Recommend

  • LS
    Mar 3, 2016 - 12:10AM

    @Shakil Ahmed:
    Local Assembly is different from actual manufacturing. There is no factory that produces LED TV Screen, its PCB or even Chasis… or a Microwave MagnetronRecommend

  • Woz Ahmed
    Mar 3, 2016 - 12:13AM

    Proof at last that we are a major power and exporter.

    Thank you Tribune

    Recommend

  • usman786
    Mar 4, 2016 - 6:07AM

    Please also export fans to Uganda n DR CongoRecommend

  • optimist
    Mar 4, 2016 - 7:03AM

    Pakistan is a land of contrasts. While we may not produce branded local items, we export heavy machinery. Pakistan maks whole plants for factories and exports them to countries like Brazil. Have a look at Texila heavy industry complex.
    .
    GFC fans are of high quality. It is just a start. I think the potential is huge. I have seen GFC fans in some Pakistani restaurants in London. They should introduce them to other countries and I am sure they will have big orders from countries like Turkey, Iran and central aisan countries. Recommend

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