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Pakistan unveils plans to boost up exports

Pakistan wants to push up exports to $35 billion by 2018. The top five textile sectors were given a zero-rated sales tax regime. Sales tax and customs duty on imports of textile machinery and cotton have been abolished. A number of projects of power generation through hydel, coal, solar, wind, and other resources have been initiated.

About 10,000 MW electricity will be added to the system by 2018 and 30,000 MW within the next few years. A network of roads, highways and motorways is being laid to integrate different regions of the country. Engineers and managers at industrial units will be trained to adopt new technologies to manage complex production processes in developing products demanded internationally. Emphasis will be placed on skill development.

New export destinations including Mexico, Central Asia, Africa and Doha are being looked at. About 60 per cent of Pakistan’s exports go to ten countries, namely, USA, China, UAE, Afghanistan, UK, Germany, France, Bangladesh, Italy and Spain. Right now Pakistan’s exports to South America, Africa, Central Asian Republics and Russia are less than ten per cent of the total exports of Pakistan. Pakistan will showcase the country’s exportable products in collaboration with the chambers of commerce in different countries. The country has given its exporters a Rs180 billion incentive package.