Exports witness 6.01% increase in November: Khurram

ISLAMABAD, Dec 14 (APP): Minister for Commerce Engr Khurram Dastgir Khan Wednesday informed the National Assembly that owing to prudent policies of the government, Pakistan’s exports had increased by 6.01 per cent in November 2016 against those in the corresponding month of last year.
During Question Hour, the minister said concrete steps were being
taken to enhance Pakistan’s export basket and Rs 20 billion would be
spent on development of the export sector.
He said uninterrupted power supply was being ensured to the
industrial sector for increase of exports, with reduction in
electricity tariff by Rs 3 per unit.
The minister said the capacity of Lahore Expo Centre had been
doubled while ground-breaking of Peshawar Expo Centre and three land
ports at Torkham, Wagha and Chaman was expected during the current fiscal year.
He said the National Tariff Commission Act has been revamped to
counter import surge through unfair trade and strengthen trade
defence mechanism.
He said EXIM Bank was being established to facilitate export
credit while consistent effort was being made for additional market
access for Pakistani products in world markets.
To a question, he said the GSP Plus status had helped Pakistani products’ access to the European Union countries at zero tariff. Total exports to the European Union in the current fiscal year were over
$5,226 million.
Khurram Dastgir said the government had taken various steps to strengthen textile and other sectors.
Sales tax of five export-oriented sectors namely textile, leather, sports goods, surgical goods and carpets, she said, had been made part
of zero rated tax regime from July this year.
Technology upgradation fund scheme for the textile sector was also available, he said, adding that the facility of duty free import of
textile machinery was continuing.
Khurram Dastgir said mark-up rates on export refinance facility
had been brought down to 3 per cent. The long-term finance facility
as continuing at 5 per cent.
To another question, Khurram Dastgir said trade policy could not
be country specific and it was based on the principles of
non-discrimination for all World Trade Organization (WTO) members.
He said the second phase of China-Pakistan Free Trade Agreement
was being negotiated and efforts were being made to dove-tail trade
and investment activities envisaged under the China-Pakistan Economic Corridor.
The government, he said, was supporting establishment of food
processing units in less developed areas of the country.
Regarding the appointment of commercial officers in the country’s
missions abroad, the minister said Prime Minister Muhammad Nawaz Sharif had appointed the batch of commercial officers of 2016 on merit that would help further promote the Pakistani trade.