The Federal government, in collaboration with China, has vowed to increase the country’s exports to $100 billion and take it to a whopping $250 billion in the second phase.
According to details, the federal government has aimed at a 700% increase in the country’s exports, and urged the Chinese government to collaborate to reach the target, sources said.
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The government has formulated a plan to raise the country’s annual shipments to $250 billion. In the first five-year phase, the annual exports would be raised to $100 billion, government sources said.
Pakistan and China reached an accord to cooperate in raising the country’s exports. The two countries would form a common working group to implement the plan. The government and private sectors would be represented in the working group.
Pakistan also get benefits from China’s vast experience in increasing the country’s shipments at a rapid rate. Agricultural, Industrial, and Trade sectors would be linked to the global China project, government sources said. According to the Bureau of Statistics Pakistan’s exports dropped by 3.07% in October as compared to the previous month of September.
According to a report issued by the Pakistan Bureau of Statistics (PBS), the exports declined by 3.07% and 3.77% on a monthly and annual basis respectively. The PBS, in its report, stated that the exports in October decreased by 3.07% to $2.37 million as compared to September ($2.44 million).
