ISLAMABAD, Pakistan: The Federal Minister for Commerce and Textile Muhammad Pervaiz Malik on Friday said the government had evolved a comprehensive strategy for enhancing Country’s exports and lifting it from trade decline.
While holding a press conference in Islamabad, Pervaiz Malik said the Prime Minister Export Enhancement Package had left positive effects on Country’s export and trade for starting giving funds to exporters by February last.
The minister said Rs180 billion package being granted to industries from February 2017 would be continued till mid 2018 in shape of duty drawbacks to the different sectors.
“We are negotiating on the Free Trade Agreement (FTA) with different Countries in which most of negotiation was nearing completion for reaching the final agreement including Pakistan China FTA Phase II and FTA with Thailand,” he said.
Pervaiz Malik said Pakistan had been looking for new market for diversification in foreign trade to enhance its export for economic growth.
The minister said Indonesia had unilaterally agreed on concession for 20 top export items to Pakistan during bilateral negotiation under Preferential Trade Agreement (PTA).
Both sides discussed 20 tariff lines and Indonesia agreed to give concession on major exports from Pakistan including zero percent tariff on tobacco, textile fabric , rice , ethanol, Citrus (Kinnow), woven fabric , t- shirts , apparel and mangoes during renegotiation on PTA, he said.
Replying to a question on Generalize System of Preferences (GSP- Plus), the minister said “We are working on GSP- Plus according to structural framework and all 27 conventions would be addressed to get GSP- Plus status again.”