ISLAMABAD: Prime Minister Imran Khan has approved $ 38.7 to $ 40 billion export target of goods and services for financial year 2021-22.
The export target was finalized at meeting held in the Prime Minister office and attended by all the concerned stakeholders.
Talking to Business Recorder, Prime Minister’s Advisor on Commerce and Investment Abdul Razak Dawood said that export target for textiles has been set at $ 20 billion to $ 21 billion, non-textiles $ 11.5 billion, totalling $ 32.5 billion. The share of services has been projected at $ 7.5 billion. Commerce Advisor, who was scheduled to announce the export target at a press conference with Information Minister Chaudhry Fawad, addressed it with SAPM on Political Affairs Dr Shahbaz Gill instead.
Gill informed the media that a delegation of exporters held a meeting with the Prime Minister on Monday, adding there is export potential in many sectors but exports still are negligible and the issues of these sectors were discussed during the meeting.
He said big targets have been set for the current fiscal year, adding that Prime Minister will hold a review meeting every month and the Finance Minister will hold meetings with exporters after every two weeks.
Commerce Advisor informed the media that Pakistan’s exports reached $ 25.3 billion in 2020-21. He said exports in July stood at $ 2.3 billion and Pakistan’s focus is now on ‘Make in Pakistan’.
He contended that Pakistan’s exchange rate is realistic, adding that the government has paid the exporters their arrears. He said IT exports have shown a growth of 47 per cent in 2020-21. He maintained that export of goods will be taken up to $ 31.2 billion.
He said export target for 2021-22 will be $ 38.7 billion, adding that the country has a capacity to reach $ 40 billion exports.
To a question, he said, motorcycle production was at a record high in FY 2020-21, adding export orders of 10,000 motorcycles have already been received.
Razak Dawood said Aamir Allawala has established a mobile phone factory in Karachi, and local manufacturing of mobiles has already commenced.
He stated that dependency on textile exports will decline in the next five years as exports in other sectors will start.
Answering a question, he said, textile exports will remain between $ 20 and $ 21 billion in the current fiscal.
He further stated that prices of gas and electricity have been kept at par with those prevalent in competitor countries.
Razak Dawood said that Samsung did not come to Pakistan even though he invited them twice; however, now the company has decided to set up its plant in Pakistan.
He said whatever measures were suggested in the STFP 2020-21, Commerce Ministry has already implemented them.
To a question SAPM Shahbaz Gill said that sugar price has increased by 56 per globally, adding that the government is fighting the sugar cartel.
He said revenue on sugar has doubled in 2020-21 despite lower production of the commodity and cotton production has declined due to the sugar mafia.
Copyright Business Recorder, 2021