Government felicitated for record increase in exports during January 2011

The Saarc Chamber of Commerce and Industry Vice President Iftikhar Ali Malik has felicitated the government and the public sector for record increase in exports during January 2011, which is a ray of hope to narrow the country's trade deficit. This shows that if the government provides enabling environment, the private sector has the potential to demonstrate its ability and to contribute more, he said and added that 38 percent increase in exports during January 2011.
In a statement, he said the cumulative value of exports during July-January 2011 to the tune of US $13.279 billion as against US $10.784 billion, denoting a growth of 23.1 percent over the same period of last year was an indicator that economy is on track of development and would give further impetus to surpass the current financial year's target, he maintained.
Malik said the export of rice that crossed $1.0 billion mark during first seven months of the current fiscal, is an encouraging sign despite the huge loss of paddy crop due to devastating flood in the country, he said. He further said that by sharing technology and focusing on research and development, per-acre yield of cash crops could be enhanced manifold.
He stressed the need for increasing regional co-operation in agro-based industry, keeping in view of the merging challenges of food security, which was likely to hit the region due to environmental change. He demanded of the government to undertake liberal policy towards imports of such products from South Asia and in particular from India, which are not locally manufactured and are being imported from far-flung markets, he said. He said demanded of the utilisation of Export Development Fund for institutional capacity building of R&D based organisations, promotion of value added and finished goods and brand development of Pakistani products to achieve quantum leap in the country's exports.