Exports projected to hit $38 billion

Pakistan’s exports of goods and services will exceed $38 billion in the ongoing fiscal year, which is for the first time in the country’s history, projected Trade Development Authority of Pakistan (TDAP) Chief Executive Arif Ahmad Khan.

In a meeting with a delegation of the Council of Economic and Energy Journalists on Wednesday, he said that in the first six months of fiscal year 2021-22, goods shipments to overseas markets rose to $15 billion, posting an increase of 18%.

“African market is the focus of attention as there are vast opportunities for export of different products to the region,” he said. “Rice, pharmaceutical and IT products have a lot of export potential.”

He said that Pakistan had shipped rice worth $2.2 billion and with the introduction of advanced technology in crop cultivation, harvesting and processing, the number could be pushed to $5 billion.

Similarly, Pakistani pharmaceutical exports stand at only $300 million, which can be lifted by five to six times over the next few years. On the other hand, there is a huge scope for IT exports.

Khan pointed out that extensive restructuring had been done in TDAP and it would begin bearing fruit soon.

“Directors general have been appointed in TDAP by setting up product-based departments and they will be responsible for looking after their respective fields,” he said. “Moreover, 16 research officers have been hired for the departments purely on merit.”

Citing figures, the TDAP chief executive said that textile exports had grown by 27% while exports of dates to Japan surged 50%.

Published in The Express Tribune, February 17^th, 2022.

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