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Country’s exports stand at $11.462 bln in 6 months, Senate told

the country’s total exports and imports stood at $ 11.462 billion and $ 26.867 billion during the period from September 2018 to February 2019.

By APP
May 02, 2019

ISLAMABAD: Minister of State for Parliamentary Affairs Ali Muhammad Khan Thursday apprised the Senate that the country’s total exports and imports stood at $ 11.462 billion and $ 26.867 billion during the period from September 2018 to February 2019.

Responding to a question of Senator Kalsoom Perveen, the minister said the trade deficit was recorded as $ 21.523 billion on March 1.

To another question, the minister said various measures were taken to improve the balance of trade of the country which included revision of export enhancement package, reduction in the cost of production, economic package to support industrial growth, payment of sales tax refund, policy rate for export finance, market access by China on yarn, rice and sugar, market access to Indonesia etc.

He said various measures were also taken to curtail imports which included imposition of regulatory duties, exchange rate rationalization and policy revision for the import of vehicles under transfer of residence personal baggage or under gift scheme etc.

Responding to a question on behalf of minister for Climate Change, Ali Muhammad Khan said the Pakistan presently has 5.01% of the total land area under forest.

Hence it is one of the 56 ‘Low Forest Cover Countries’ (LFCC) in which forest cover is less than 10 percent of total land area, he said.

Forestry is a provincial subject under the constitution of 1973, hence directions to ensure specific percentage of their land under forest cannot be passed, he said.

However, he said Federal Government supported provinces to improve forest cover and promote tree plantation in the country through national level mega projects that include Green Pakistan Programme, Sustainable Forest Management project and Sustainable Land Management Project to Combat Desertification.