Exports to be record-high this year

KARACHI: Adviser to the Prime Minister on Commerce, Textile, Industry and Investment Abdul Razak Dawood on Saturday vowed that Pakistan’s exports will reach an all-time high this year.

Addressing a press conference here, he said the country's economy was headed towards an improvement despite difficulties. “The current account deficit is a challenge and the government is taking emergency measures to fix it. The business community and the government can work together to overcome the challenges,” he added. Vowing to increase exports rapidly, Razak said, “We are working on a strategy to increase exports. We will take exports up to $27 billion for the current year,” he added, reports Geo News.

“December 2018 recorded better performance than December 2017,” he further said. “We have acquired a $1 billion market from China for export of tea and rice,” Razak Dawood disclosed.

Stating that the food and agriculture group Cargill Inc had expressed interest in investing some $200 million in Pakistan, he said, “Cargill will invest in seed oil business.”

“I confess I could not focus on edible oil, as I was concentrating on other sectors. If the farmers are helped in producing edible oil, then foreign exchange will be saved,” he added.