ISLAMABAD, Pakistan: Minister for Commerce Engineer Khurram Dastgir Khan Wednesday told National Assembly that Pakistan’s exports exceeded $ 25 billion target for the first time in country’s history.
He said in 2014-15 negative growth in exports was witnessed due to significant decline in the global prices of cotton, leather products and basmati rice as Pakistan’s export is dependent on these products.
He said decline in the value of currency has made a difference to the competitive process, adding that for China Pakistan Economic Corridor (CPEC) project infrastructure would be built for which steel and other materials would be required to import as our local industry is not in a position to meet the huge target.
He added that appropriate measures would be taken for anti-dumping of steel.
Responding to a question he said the Economic Coordination Committee (ECC) had imposed ban on livestock exports due to which an increase was witnessed in meat export from 190.2 million $ to 210.5 million $ and further increase is expected.
He said that Pakistan has to increase trade with regional countries including Afghanistan, Iran and Middle East and will have to take certain measures for the industry.
Khurram Dastgir in response to a question said according to World Bank database the standard ratio of exports of goods and services in terms of global GDP is 29.6 percent, whereas Pakistan had 12.28 percent rate in 2014 in this regard.
The minister informed the house that government should take measures including improving infrastructure to reach the World Bank standards.
“We have provided all the information in Urdu regarding GSP Plus on websites for competition in world markets,” he added.
In response to a question, he said Pakistan’s exports of gypsum to India constitute more than 99% of its global exports of gypsum. There is overall increase in quantity of gypsum exports to India in last three years with slight dip in fiscal fear 2014, he added.
He said increase was witnessed in export of gypsum to 5.5 million tones in 2013-14 and 8.75 million tones in 2014-15.
The minister said in value terms, the exports show a minor decline which is attributable to variation in US$ rates. This increase in exports of gypsum is a result of rise in demand of Pakistani Gypsum from Indian cement industry, he added.