Exports value to remain at US $ 22 bn in FY 2019-20: Dawood.
ISLAMABAD -- Advisor to the Prime Minister on Commerce, Abdul Razak Dawood said that the country's exports target of US $ 25 billion could not be achieved due to the ongoing situation of lockdown in the country and it could decline to more or less to US $ 22 billion.
The exports decreased in April by 50 percent and home remittances also declined in this situation, Abdul Razzak Dwaood said in an interview with Voice of America (VOA) here.
To a question he said Pakistan could get benefits from low oil prices in current evolving situation in international market and there would be no larger impact of Current Account Deficit (CoD) because of decline in petroleum prices.
He also vowed for opening the industrial sector in coming months to provide opportunity to the local exporters to get more benefits in current scenario and major shift in international trade market.
He urged the exporters to get orders freely from all countries including textile industry to tap the new opportunities in
the world market.
Replying to a question on impact of current situation on country's Gross Domestic Product (GDP), he forecast that it would contract by 0.5 percent during the current fiscal year.
He said even in recent challenging situation Pakistan has opened various sectors including information Technology and sect vices sectors, which attracted the world to the Pakistan product in these sectors.
To a question on textile sector export, he said Pakistan was receiving big orders of face masks and sanitizers.
'We have also received huge demand of Hydroxychloroquine and Pakistan has exported raw material to Germany and Turkey and 1000,000 tablets to Saudi Arabia,' he added.
Replying to another question on United States-Pakistan Trade dialogue, he said Pakistan wanted access in potential US market for this, 'We demanded the US government...
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