SIFC plays key role in boosting exports
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
SIFC ensures promising future for international trade
The SIFC has played a vital role in boosting Pakistan’s exports, contributing significantly to the country’s economic growth.
Thanks to the SIFC’s assistance, exports have seen remarkable progress, with several industries benefiting from increased shipments abroad.
Pakistan’s export of sesame seeds to China has surged by 179%, reaching $28 million. This increase marks a significant achievement in the agricultural export sector.
Furthermore, the country’s automotive industry has also experienced an encouraging shift, with major advancements towards global recognition.
The government’s vision of promoting export growth, outlined by Prime Minister Shehbaz Sharif, has helped prepare Pakistan’s automotive industry for international markets.
In a notable development, the well-known company Honda has exported the first batch of 40 Honda City cars to Japan, a significant milestone for Pakistan’s automotive manufacturing sector.
This move presents a golden opportunity for local manufacturers to enhance their export capabilities. With the government’s unwavering commitment to favourable policies, the automotive industry is poised to continue expanding its reach.
In the first eight months of the current financial year, non-textile exports have increased by 2.3%, reaching a total of $9.8 billion.
This growth includes notable gains in the export of petroleum crude oil, which saw a 100% increase, cement exports, which rose by 26%, and jewellery exports, which grew by 66%.
The commencement of exports from the Gwadar Free Zone was also a noteworthy step taken by the government.
The approval for the export of 10,000 tonnes of potassium sulphate fertiliser annually from the zone has been hailed as a significant achievement. With SIFC’s support in fostering investment within the Gwadar Zone, exports of potassium sulphate fertiliser are expected to reach $7 million by 2025.
SIFC’s continuous facilitation of export growth is contributing positively to the stabilisation of Pakistan’s economy, ensuring a promising future for its international trade.
Reference Link:- https://samaa.tv/2087331200-sifc-plays-key-role-in-boosting-exports
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
