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Business & Finance

Govt taking measures to boost Exports, Razak tells the house

  • The Adviser said, that the present government strengthened its economic ties with African countries under its Look Africa Policy to enhance the outreach of Pakistani goods in international markets.
Published January 22, 2021

Adviser on Commerce and Trade Abdul Razak Dawood informed the Senate on Friday that the government is taking concrete steps to boost exports.

The advisor while addressing the house during the Question Hour session said during coronavirus pandemic the government provided a stimulus package worth Rs 180 billion to industries.

The Adviser said, that the present government strengthened its economic ties with African countries under its Look Africa Policy to enhance the outreach of Pakistani goods in international markets. Trade committees have been formed to conduct bilateral trade negotiations with various countries.

Earlier, the Senate was informed by Minister for Industries Hammad Azhar that the country’s foreign exchange reserves have increased to about $20bn.

Azhar told the house that the State Bank of Pakistan has foreign exchange reserves of twelve to thirteen billion dollars. He said the reserves have increased due to improvement in exports and remittances.

The Minister for Industries said there has also been a record debt servicing during the tenure of the present government. He said we are paying back ten billion dollars annually.

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