$44b export target fixed for FY2018–19

The government has set a USD 44 billion export target for FY2018-19, which is 6.47 per cent more than the goal set in the last fiscal year.

Commerce minister Tofail Ahmed announced this at the Secretariat yesterday. “We've set the target in view of the exportable commodities and service sectors. A target has been fixed to earn USD 39 billion from exportable commodities; it is 6.36 per cent more than the goal set in the previous year. We've also fixed a target to earn USD 5 billion from the service sector; it is 7.43 per cent more than the last year’s target,” he told reporters.

The minister said the nation had earned USD 40.95 billion in FY2017-18 from the exports. Of them, USD 30.67 billion

were earned by exporting different items and USD 4.28 billion from the service sector, he added.

He also said that the government had set an export target of USD 41 billion in the last fiscal year. “The government has decided to give a 10 per cent cash incentive on nine more exportable items this year, although it's giving cash incentives on 27 exportable items,” he added.

According to the commerce minister, apart from 27 exportable items, nine more exportable items to get cash incentives this year are frozen soft-shell crab, pharmaceutical items and medicine raw materials, ceramics items, galvanised sheet or coils, photovoltaic module, razors and razor blades, chlorine, hydrochloric acid, caustic soda, and hydrogen per oxide.

“The exporters will be encouraged to export their items in future. The nation will cross the export target of USD 60 billion by 2021 if the present export trend continues,” he said.

Exporters urged the government to resolve all the trade barriers by developing infrastructure, removing trade complications and speeding up the functioning of land and sea ports.

The minister assured them that the government had taken up various steps to expand the country’s export sectors.

$44b export target fixed for FY2018–19

The government has set a USD 44 billion export target for FY2018-19, which is 6.47 per cent more than the goal set in the last fiscal year. Commerce minister Tofail Ahmed announced this at the Secretariat yesterday. Weve set the target in view of the exportable commodities and service sectors. A target has been fixed to earn USD 39 billion from exportable commodities; it is 6.36 per cent more than the goal set in the previous year. Weve also fixed a target to earn USD 5 billion from the service sector; it is 7.43 per cent more than the last years target, he told reporters. The minister said the nation had earned USD 40.95 billion in FY2017-18 from the exports. Of them, USD 30.67 billion were earned by exporting different items and USD 4.28 billion from the service sector, he added. He also said that the government had set an export target of USD 41 billion in the last fiscal year. The government has decided to give a 10 per cent cash incentive on nine more exportable items this year, although its giving cash incentives on 27 exportable items, he added. According to the commerce minister, apart from 27 exportable items, nine more exportable items to get cash incentives this year are frozen soft-shell crab, pharmaceutical items and medicine raw materials, ceramics items, galvanised sheet or coils, photovoltaic module, razors and razor blades, chlorine, hydrochloric acid, caustic soda, and hydrogen per oxide. The exporters will be encouraged to export their items in future. The nation will cross the export target of USD 60 billion by 2021 if the present export trend continues, he said. Exporters urged the government to resolve all the trade barriers by developing infrastructure, removing trade complications and speeding up the functioning of land and sea ports. The minister assured them that the government had taken up various steps to expand the countrys export sectors.