Thursday Dec 03, 2020
Adviser to the Prime Minister on Commerce Abdul Razak Dawood on Thursday announced that several industrial exports in Pakistan have recently witnessed significant growth.
Sharing November 2020's provisional figures on his Twitter account, Dawood revealed that as compared to 2019, the exports of home textiles have grown by 20%, pharmaceutical products by 20%, rice by 14%, and surgical goods have witnessed an 11% growth in exports.
According to his tweets, other industrial exports which have seen a boost in the month of November include stockings and socks (41%), jerseys and pullovers (21%), women's garments (11%) and men’s garments (4.3%).
"This is in line with our policy of promotion of value-added exports and reflects a healthy trend," the adviser wrote.
Last month, the government said that Pakistan's key economic indicators have started showing results due to effective policies which fueled growth and enhanced remittances and foreign direct investment.
Pakistan's economy witnessed positive signs during the first quarter of the ongoing fiscal year 2020-21 (FY20-21) as remittances grew 26.5%, foreign direct investment (FDI) rose 9.1%, tax collection went up 4.5%, and the primary balance has been in a surplus worth Rs258 billion.
According to official sources, the PTI government's "prudent and timely policies" bolstered large-scale manufacturing (LSM), which registered a 4.8% growth, while the cement sector expanded 20% at 100% capacity utilisation.