The 24 per cent increase in Pakistan’s exports in March — the highest in four years — was the result of the duty drawback scheme under the prime minister’s package and the exchange rate adjustment, export-friendly policies and efforts seeking better market access by the commerce ministry, minister for commerce and textile Muhammad Pervaiz Malik recently said.

The highest year-on-year growth in a month was reached in March this year, when exports reached $2,230 million, 24 per cent higher than the figure in the corresponding month in 2017 and 17 per cent higher than the previous month’s figure.

Malik assured exporters that the government would take all necessary measures to facilitate exports and resolve all problems by consulting them, according to Pakistani media reports.

Better market access, especially in the European market because of the successful review of generalised system of preferences (GSP) plus benefit, played an important role, he added.

Growth of imports, however, remained subdued at only 5 per cent as compared to March 2017, one of the lowest import growths in the past few months.

The government is looking forward to start dialogues for free trade agreements with Japan, Indonesia, Vietnam, Kenya and Philippines, the minister added. (DS)

Fibre2Fashion News Desk – India

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