Govt Sets Export Target Of $38.7 Billion For FY 2021-22: Razak Dawood

Prime Minister's Adviser for Commerce and Investment, Abdul Razak Dawood on Monday said the government has set an export target of $38.7 billion for the current Fiscal FY 2021-22

ISLAMABAD, (UrduPoint / Pakistan Point News - 2nd Aug, 2021 ) :Prime Minister's Adviser for Commerce and Investment, Abdul Razak Dawood on Monday said the government has set an export target of $38.7 billion for the current Fiscal FY 2021-22.

After consultation with different export sectors, the government has decided to set a target of $38.7 billion, which may exceed to $ 40 billion, the Adviser said while addressing a press conference along with Special Assistant to Prime Minister Shabaz Gill.

The adviser informed "For the previous year of 2020-21, We achieved a $31.3 billion export target out of which $ 25.3 billion contributed by goods and $ 6 billion by the services sector." He said in the FY 2020-21, the Information Technology (IT) exports crossed $2 billion mark, which were 74% more than in the same period of preceding year.

Razak Dawood said, out of total, the government has set $31.2 billion target for goods exports and $ 7.5 billion for service.

He informed that after consultation with the textiles exporters, the government has decided to set $ 20 billion for textiles exports.

The Adviser informed that the exporters from the major sector including textiles, leather engineering and other sectors met with Prime Minister Imran Khan and gave their inputs for increasing country's exports.

He said, to follow the policy of export diversification, two new players from automobile and mobile manufacturing sectors decided to start export from these two sectors this year.

He said that motorcycle manufacturers have planned to export 100,000 motorcycles this year and a mobile factory has also been established by Amin Allahwalla which would start its e-manufacturing from next year.

The Adviser said that the government has followed the policy of 'Make in Pakistan' and part of that engineering would be promoted for introducing Pakistan goods in the international market.

In the next five year the government wants to decrease dependence on textile export and promote the introduction of engineering goods in the international market.

He said that through value addition in textile, the government has also committed to enhance export in this sector as in previous year; export was increased in bed ware and ready made sector.

"Our exports increased in previous year because of the prudent policy of the government and we introduced realistic exchange rates, payments of refund and also gave them competitive energy rates." the adviser said.

Meanwhile special Assistant to the Prime Minister, Shabaz Gill said that the government has followed the policy of export diversification and introduces the new sector in export for enhancing the local exports.

He said that in past the governments neglected the agriculture sector and now the current government has incentivized agriculture to enhance the export in this sector.

He informed that now the Prime Minister has decided to consult with exporters every month and his economic team will meet the farmers twice a month.