Pakistan's exports will hit record-high this year

Adviser to PM on Commerce, Textile, Industry and Investment Abdul Razak Dawood vowed that Pakistan's exports will reach an all-time high this year. Addressing a conference in Karachi, the adviser to the premier said, "despite difficulties, the country's economy is headed towards improvement." “The current account deficit is a challenge and the government is taking emergency measures to fix it,” he added. “The business community and the government can work together to overcome challenges."

Vowing to “increase exports rapidly”, Razak Dawood said, “we are working on a strategy to increase exports.” “We will take exports up to $27 billion for the current year,” he continued. “December 2018 recorded better performance than December 2017,” the adviser to the premier added. “We have acquired a $1 billion market from China for the export of tea and rice,” Mr. Dawood shared.

Stating that the food and agriculture group Cargill Inc has expressed interest in investing some $200 million in Pakistan, he said “Cargill will invest in the seed oil business.” “I confess, I could not focus on edible oil as I was concentrating on other sectors. If farmers are helped in producing edible oil, then the foreign exchange will be saved,” he added. “We will take the edible oil industry very far,” Razak Dawood promised.


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