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Govt bullish over exports from developmental sector
27
Mar '08
Although Pakistan is stressed over disappointing performance made by the textile sector, exports of developmental sectors like chemical, furniture and gems and jewelry have recorded a considerable growth of more than 47 percent during July-February of 2007-08 compared to the corresponding period last year.

This growth is a positive signal for the country since these sectors also form a significant part of the Government's strategy to boost exports.

Pakistan exported goods worth US $1.184 billion from the developmental sectors in the first eight months of the ongoing fiscal year compared to $801,696 million of the previous year.

Gems export stood at $6,023 million against $3,765 million in 2006-07, jewelry at $121,077 million against $21,815 million and furniture at $7,247 million over $7,207 million.

Experts believe that growth in these export products was a significant development since it will help balance the losses incurred by declining export of textile sector. This in turn was a consequence of widening trade gap caused by increasing import bill.

Moreover, growth in other sectors will also reduce economy's dependence only on the textile industry which is presently passing through a disturbed phase. In fact, Pakistan can further boost exports from these segments since free trade agreement with China throws open wide and lucrative potential markets.

Government of Pakistan has set a target of $1.555 billion for the whole year and looking at the current export performance, achieving this margin will not be a difficult task.

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