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Export led growth important to save country from debt trap, Razak Dawood

Syed Umarullah HussainiWeb Editor

19th Feb, 2020. 02:57 pm
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Adviser on Commerce Abdul Razak Dawood  said that present government overcoming challenges faced by the economy.

He was addressing in a seminar in Islamabad.

Razaq Dawood said government systematically moving away from traditional export sectors to the new ones including pharmaceutical, engineering and Information Technology to significantly bolster the exports.

The adviser noted that export led growth is important to save the country from debt trap.

Abdul Razak Dawood said Pakistan is now also exploring new markets for its products.

He pointed out that Africa is an emerging market and we have prepared Look Africa policy to exploit this market.

We recently conducted a successful conference in Nairobi and more will be held in the near future to stay engaged with the African countries.

Dawood said the pharmaceutical industry should prepare its export strategy and assured the government will extend full help to enhance this sector’s exports.

He assured to remove all the impediments in the way of development of industrial sector.

It may be noted that IT and IT enabled services (ITes) export remittances surged to $439.9 mn at a growth rate of 23.35 % over the first five months of FY 2019-20 (July-November), in comparison to $356.6mn during the same period in last year.

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