New export package to be announced soon: Miftah

Karachi – Dr. Miftah Ismail Tuesday said that government would soon announce a new package to provide incentives to the exporters aimed at promoting external trade of the country.

“On the special directive of Prime Minister, Shahid Khaqan Abbasi, we are formulating a new export package, which will be announced in next few days,” he said while winding up the budget debate in the National Assembly.

He said that earlier the former prime minister Mohammad Nawaz Sharif had announced an export package in January 2017, to help overcome the problems faced by exporters at that time. That package would end on June 30, 2018, he added.

Miftah said that although the devaluation had helped the export sector to overcome the challenges of competitiveness in the international market and resolved the rebate problems to a great extent, yet the government has
decided to announce a new export package.

To various questions raised by opposition members during the budget speeches, he said recession in the international market, energy crisis and internal security issues had impacted the exports negatively. He said that the government had resolved the energy and security issues on an emergency basis, besides the exporters’ problems were also addressed, which had increased the country’s exports.

The minister said that the exchange rate adjustments also helped in enhancing exports, which witnessed an increase of 24 percent in March 2018, and 18 percent in April 2018. On the other hand, he said that country’s imports increased mainly due to the import of machinery and petroleum products. The imports witnessed 2 percent increase in April 2018, he added.

"Monitoring Desk"

RELATED POSTS

2
Peace In Afghanistan and CPEC to help generate opportunities for the youth: Speaker NA
PM Imran Khan praises Chinese support, says China has been helpful in many areas
0.7 Million jobs likely under CPEC by 2030
Power generation capacity of Port Qasim power plant equivalent to 10 percent of national power generation capacity
CPEC energy projects undergoing rapid construction
China confirms pledging financial assistance to Pakistan
NHA plans construction of sections of CPEC Western Route, project to complete by end of 2019
CPHGC’s Unit 1 successfully synchronized with Pakistan national grid
Chinese Embassy clarifies CPEC debt article
Chinese industrial group to establish ceramics unit in Faisalabad
Chinese Embassy provides details on the latest progress of CPEC
Work on the New Gwadar International Airport, vocational training center and friendship hospital to begin in the first quarter of 2019
Six Pakistani entrepreneurs graduate from UNCTAD, Alibaba’s fellowship
China donates Rs6m more to families of martyred cops
Pakistan coming on track by enhanced export, trade volume with neighboring countries

FOLLOW US


About Corridor.pk

Corridor.pk is Pakistan’s leading regional connectivity media & communication/outreach platform, dedicated to profiling and promoting the business activities, news and views on the regionally connected business corridor across OBOR. 

     

Addional Information

 Ethics Policy     Advertise
 Terms & Conditions
 Contact Us