‘Exports to Africa rise 10pc’

ISLAMABAD: Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood on Friday said Pakistan’s exports to African countries have increased by 10 percent from July 1, 2019 to April 21, 2020, as compared to the same period last fiscal.

“I would like to commend my team at the Ministry of Commerce for the Look Africa Policy Initiative’ under which rice exports increased by 20 percent from $500 to $600 million, tractors from $9 to 15 million, clothing from $4 to $50 million and bed linen from $30 to $36 million,” he said on his twitter account.

Dawood also announced that Drawback of Local Taxes and Levies (DLTL) refunds of Rs828 million for non-textile sector had been transferred to the State Bank of Pakistan (SBP) and reimbursement would start from today.

He said the western economic block would gradually open up their market and there were trickles of order coming from them, which would provide huge opportunity to the local industrial sector.

The adviser appealed to the local textiles industry to take full advantage of these new opportunities to enter new markets. He reiterated that the government would fully support the industrial sector in that regard.