PTI trying to take exports up to $27bn, says PM’s advisor on commerce


KARACHI: Abdul Razak Dawood, the prime minister’s advisor on commerce, textile industry and investment, said on Saturday that they are trying to increase the number of exports to take the revenue up to $27 billion for this year.

He said that while the current account deficit poses a “challenge”, the Pakistan Tehreek-e-Insaf (PTI) is taking action to resolve it.

The PM’s advisor was speaking at a conference in Karachi when he assured that the business community and the incumbent government can cooperate to overcome the economic challenges.

Adding that performance was better in December 2018 than in 2017, the advisor stated that Pakistan has acquired a $1 billion market from China for export of tea and rice.

Dawood revealed that Cargill Inc, the food and agriculture group, has also shown interest in investing around $200 million in Pakistan in the seed oil business.

“I confess I could not focus on edible oil as I was concentrating on other sectors. If farmers are helped in producing edible oil, then the foreign exchange will be saved,” he further said.

Concluding, Dawood promised that the edible oil industry in the country shall be taken “very far”.