Pakistan’s exports to US rise 23%

Envoy believes total exports may cross $8b, including services and IT

ISLAMABAD:

Pakistan’s Ambassador to the United States Masood Khan revealed on Saturday that Pakistan’s exports to the US were on the rise during former premier Imran Khan’s tenure.

Ironically, it came at a time when the ex-PM was accusing the US of backing “the change in government” in the country.

He said Pakistan’s year-on-year exports to the US increased 23% and the total volume, for the first time, crossed $5 billion in the last financial year — mostly during the previous government of Imran Khan.

Imran’s allegations that he was ousted from power as part of a plan orchestrated by the US for pursuing an independent foreign policy were apparently in stark contrast to the rising exports to the US.

During the last financial year (July-June 2021-22), the ambassador said, Pakistan’s exports grew to $6.16 billion in the July-May period, while the figures for June, which were yet to come, would further enhance the overall volume of exports.

“The US is an important trading partner and the largest export destination for Pakistan. The spurt in our exports is a very promising trend,” he remarked.

In the July-May period, Pakistan’s imports from the US increased to $2.72 billion from $2.4 billion, he said, adding “imports have increased only marginally whereas there has been a huge rise in our exports”.

The ambassador revealed that Pakistan’s exports to the US in the services and IT sectors crossed $2 billion. “Cumulatively, the total volume of exports should be more than $8 billion, including services and IT.”

Pakistan’s tech sector, supported mainly by the US entrepreneurs, has shown extraordinary results. “It is poised to continue the positive trajectory,” he said.

In recent months, Pakistan’s technology start-ups have invested and got a billion dollars, he pointed out, adding that the digital enterprises were fast becoming global and preparing for exponential growth.

“Pak-US partnership in the technology sector will strengthen further in the years to come.”

In the recent past, Pakistan has emphasised the need for closer trade and investment ties with the US.

Published in The Express Tribune, July 3^rd, 2022.

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