NEW YORK, Jul 13 (APP):Pakistan expects exports to recover, aided by demand for personal protective equipment (PPE) amid the coronavirus pandemic, Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood has said.
Exports of PPE, masks and other protective gear — a new market — had increased, he told Bloomberg, a New York-based international news agency, by telephone.
Textiles, which account for half of the nation’s export, were also seeing a pick up in orders, the adviser said.
Pakistan had “really moved fast into that area,” Dawood said, referring to the PPE.
The current year should be a better one than last, he added.
Pakistan’s exports dropped 7% in the year ended June, it was pointed out.
However, supply chain disruptions caused by the pandemic meant Pakistan secured its first sportswear order from Hugo Boss AG, Ijaz Akhtar Khokhar, chief coordinator at Pakistan Readymade Garment Manufacturers and Exporters Association, was quoted as saying in the dispatch.
Dawood said Pakistan planned to give tax incentives to any global brand that opens an office in the country. Pakistan was looking to spur growth in the economy after its first contraction in 68 years in the year ended June.
While exports dropped in seven out of the past 12 months, the rupee’s depreciation — by more than 50% since late 2017 — had made the nation’s shipments competitive globally, he said.
Dawlance, a local home appliances maker, exported microwaves to Bangladesh for the first time, while D.G. Khan Cement Ltd. sent clinker to new markets such as China and Philippines.
The cement maker had another order from the Philippines for supply of 20,000 tons as well as making more shipments to China, according to CFO Inayatullah Niazi.