Sign in Subscribe
  • E-Papers
    • Profit Magazine
    • Pakistan Today
  • Headlines
  • Featured
  • Opinion
    • Comment
    • Editorial
  • Tech
  • World
  • Satire
Sign in
Welcome!Log into your account
Forgot your password?
Create an account
Sign up
Welcome!Register for an account
A password will be e-mailed to you.
Password recovery
Recover your password
Search
Sign inSubscribe
Profit Profit by Pakistan Today
Profit Profit
  • E-Papers
    • Profit Magazine
    • Pakistan Today
  • Headlines
    • Banking

      SBP says banks did “nothing illegal” but still showed “irresponsibility” in…

      Energy

      Could Custom Bonded Warehouses be the way to efficient petroleum imports? 

      Headlines

      Are publicly listed companies increasing their share capital to avoid new…

      Aviation

      PIA’s plane seized once again in Kuala Lumpur

      Automobile

      Isuzu, Gandhara Tyres set to raise capital 

  • Featured
    • Editor’s picks

      The Federal Budget is about to be tabled, but will the…

      Editor’s picks

      What does it mean to be a progressive farmer?

      Editor’s picks

      Paid Parental Leave — This is not a drill and it…

      Cover story

      Political patronage and victimisation: Medialogic and the TV ratings story

      Editor’s picks

      Khushhali bank to force convert its hybrid debt into equity. But…

  • Opinion
    • AllCommentEditorial
      Comment

      Demographic liability

      Comment

      The volatility premium

      Editorial

      Record inflation and the journey there

      Comment

      Changing how Pakistanis commute and think about commuting

  • Tech
    • Editor’s picks

      Pakistan’s cellphone industry: A prospective $15 billion exporter or another automotive-style…

      Headlines

      In a swift turn of events, Swyft Logistics undergoes major management…

      Tech

      US court sanctions Google in privacy case, company’s second legal setback…

      Tech

      Pakistan’s Trukkr announces $6.4m raise as it shifts focus to fintech

      Tech

      Portuguese tech firm S4 Digital acquires 70% stake in Pakistan’s Bramerz

  • World
  • Satire

Pakistan set to miss export target by big margin

Pakistan exports are projected to touch between $23-24 billion for FY18 compared to the target of $35 billion set by the previous PML-N government

By
Monitoring Desk
-
June 8, 2018
0
607
Facebook
Twitter
Linkedin
WhatsApp
Email

    KARACHI: Pakistan is set to miss its outgoing financial years’ export target by a big margin, senior industry officials revealed.

    The previous PML-N government had targeted exports of $35 billion for the financial year ending June 30th, 2018 under the strategic trade policy framework 2015-2018, reported The News.

    The previous government, however, became aware export earnings would be around $23 billion for FY18 because of continuing decline in exports.

    Data from the Pakistan Bureau of Statistics (PBS) reveals total exports during FY17 stood at $20.45 billion, a dip of 1.63 percent over FY16.

    Lasbela Chamber of Commerce and Industry Chairman Yakoob Karim agreed with the fact exports would touch between $23-24 billion for FY17.

    He added the current level of exports is not what Pakistan had even achieved a decade back.

    Mr Karim said the exports announced by the previous government in the trade policy were not achieved.

    Exports fell from $25 billion a few years ago and were severely impacted by high energy costs, exchange rate appreciation and high import tariffs on inputs, said Karim.

    He highlighted the trade policy had failed to aid in increasing the exports in last three years and instead kept continuously falling.

    Javed Bilwani, President Sindh Industrial and Trade Estate Association of Industry shared value-added textile industry was confronting liquidity problems as refund claims worth hundreds of billion were stuck.

    He backed the projected export figure of $24 billion and said widening current account deficit was because of a decrease in exports and rise in imports.

    Current account deficit is projected to touch $16 billion by end of FY18 against a target of $9 billion.

     

     

    • TAGS
    • Current Account Deficit (CAD)
    • imports
    • Pakistan exports
    • Strategic Trade Policy Framework 2015-18
    • textile sector
    Facebook
    Twitter
    Linkedin
    WhatsApp
    Email
      Monitoring Desk
      Our monitoring team diligently searches the vast expanse of the web to carefully handpick and distill top-tier business and economic news stories and articles, presenting them to you in a concise and informative manner.

      RELATED ARTICLESMORE FROM AUTHOR

      Headlines

      Local mobile phone production reaches 24.66m units in 2021

      Headlines

      Exports surge by 25pc in first half of FY2021-22

      Headlines

      Regional exports post meager 1.8pc growth

      Whatsapp Newsletter
      Email Newsletter News Tips
      Profit by Pakistan Today
      Publishing Editor: Babar Nizami - Joint Editor: Yousaf Nizami - Senior Editors: Abdullah Niazi I Sabina Qazi - Sub-Editors: Mariam Zermina | Basit Munawar - Editor Multimedia: Umar Aziz - Video Editors: Talha Farooqi I Fawad Shakeel - Reporters: Taimoor Hassan l Shahab Omer l Ghulam Abbass l Ahmad Ahmadani l Shehzad Paracha l Aziz Buneri | Daniyal Ahmad | Asad Kamran - Regional Heads of Marketing: Mudassir Alam (Khi) | Zufiqar Butt (Lhe) | Malik Israr (Isb) -- Pakistan’s #1 business magazine - your go-to source for business, economic and financial news.
      Contact us: [email protected]
      • Privacy policy
      Copyright © 2023. Pakistan Today. All Rights Reserved.