Pakistan to diversify exports into engineering, pharmaceutical products, says Razak Dawood

[ziaulislam]

For the past couple of months, gov has been working on improving the standards of all medicine produced to international (exporting). Its sad that our local standards were low quality before, but good to know that in the future it will be same as international standards. This has resulted in positive outcomes.

https://profit.pakistantoday.com.pk/2019/11/11/pharma-exports-increase-12-3pc-in-first-quarter/

nothing happens overnight..all this hard work will be swept in 2023..as it happend in 2008-15 period when exports were systematically killed off

 

[jupiter2007]

What shocks me is how quickly and rapidly we can earn foreign exchange by expanding our IT industry. Current growth rate is something like 20 percent each year. Only if we could bring the money back every year which IT companies park outside Pakistan using different loopholes we can help immensely help our foreign exchange reserves .

When it comes to IT many big companies don’t want to invest or give Business to Pakistan due to political and economic Instability. We need to bring our house in order and increase Export on those industries which are easy.
1) Halal Meat
2) SeaFood
3) Fruits and Vegetables
4) Cooked Food
5) Cheese and Milk products

 

[Baghial]

Pakistan to diversify exports into engineering, pharmaceutical products, says Razak Dawood
The adviser to the prime minister announced that Dawlance is set to export microwave ovens from Pakistan for the first time in the country's history

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APP
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June 26, 2020
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ISLAMABAD: Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood on Friday said that Pakistan is rapidly diversifying its exports into high quality and globally competitive engineering and pharmaceutical products while reducing its dependence on five traditional export sectors.

The adviser to the prime minister while chairing an internal review meeting to discuss the finalisation of Strategic Trade Policy Framework (STPF), informed that one of the main objectives of the STPF is to achieve diversification of Pakistan’s export and reduce dependence on traditional export sectors.

He further informed that STPF, among other sectors will have an increased focus on increasing exports in the pharmaceutical and engineering sectors. He added that the reduction in import duties on raw materials and tariff rationalisation in Budget 2020-21 also supports this aim.

Currently, the draft STPF is being reviewed by stakeholders. The draft will be placed before the Economic Coordination Committee (ECC) of the Cabinet shortly once views of the stakeholders are incorporated in it.

While commenting on emerging sectors for export opportunities,Razak Dawood said that Pakistan’s engineering products, especially the home appliances sector, have now begun producing internationally competitive products.

He added that in pursuance of the diversification policy, export of microwave ovens from Pakistan has been confirmed for the first time, which will be exported by Dawlance, a Turkish investment in Pakistan.

“I am happy to announce the export of microwave ovens by Dawlance. This is the first-ever exports of microwave ovens and we hope it will be a new beginning for our engineering exports, especially home appliances,” he said in a tweet.

I am happy to announce the export of microwave ovens by Dawlance. This is the first-ever exports of microwave ovens & we hope it’ll be a new beginning for our engineering exports, especially home appliances.@Dawlance_Pk @ArcelikGlobal @arcelik @aliya_hamza @PTIofficial

— Abdul Razak Dawood (@razak_dawood) June 26, 2020

He added that, with the support of the government, other engineering products will soon be added to Pakistan’s exports.


In this regard, duties on import of components for televisions have been reduced to promote local manufacturing of television sets, which has a huge potential for exports.

The adviser to the prime minister was also optimistic that the results of the first-ever Mobile Phone Manufacturing Policy recently announced by the government will soon become visible in the coming months in the form of increased exports of locally manufactured mobile devices from Pakistan.

https://profit.pakistantoday.com.pk...ng-pharmaceutical-products-says-razak-dawood/

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@Aspen Another one of points i was talking about before.

@Syed1.

RAZAK DAWOOD , THE CROOK OF EVERY GOVT SINCE 30 YRS,

 

[Patriot forever]

Yes its a pipe dream- Diversify exports I have been hearing this for last 40 years !!! Something is extremely rotten in Pakistan as to why we never improved our economic situation.

Our pharmaceutical exports increased 22% in volume and 12% in dollar terms, the beginning of financial year before Corona. My point is potential is there and despite incompetencies we are heading in the right direction, and work is being done. Let's see if we can increase the pace in the coming financial year.

 

[A.A. Khan]

How many units have been exported? No figures by this old bat.
Which mafia this Dawood belongs to?
These advisers/bats have finished Imran Khan's political career.

 

[Mrc]

There shud b a single point economic agenda from now.... exports

Ministers shud get technical peoples helping them and ready to work with exporters 24/7 to build capacity and quality

 

[Ali_Baba]

Does the Goverment of Pakistan have too much (unnecessary) control over exports? Is this restricting the growth of exports by private enterprise?

The fact that you have a goverment minister talking about exporting 'microwaves', does suggest too much bureaucracy?

Surely, the govermnet should be focussed one helping private enterprise meet global product standards that will allow them to be competitive...

Even more, focussing on having more students get high quality STEM based education which will help building depth to Pakistans economy.

Pakistan does not have much of a reputation for a location for IT outsourcing, because it does not produce enough STEM based students every year.

 

[Morpheus]

Does the Goverment of Pakistan have too much (unnecessary) control over exports? Is this restricting the growth of exports by private enterprise?

The fact that you have a goverment minister talking about exporting 'microwaves', does suggest too much bureaucracy?

Surely, the govermnet should be focussed one helping private enterprise meet global product standards that will allow them to be competitive...

Even more, focussing on having more students get high quality STEM based education which will help building depth to Pakistans economy.

Pakistan does not have much of a reputation for a location for IT outsourcing, because it does not produce enough STEM based students every year.

You are free to export what you want. Gov doesn't control anything. The microwave, the pharmaceutical export, are examples of gov working on the standards of local industry so that they can improve the quality of products worthy of being exported. They are not control what to export.

Our IT exports have increased a lot compared to last couple of years. This is due to relaxed rules regarding payment received from oversea. There is lot of talent in Pakistan when it comes to IT.

https://nation.com.pk/13-Mar-2020/pakistan-s-earns-dollar-652-million-from-it-services-export

 

[BATMAN]

Due to tax policies of Imran Khan, it's not possible to have industry in Pakistan. Only those with 40 year tax break will rule, and we all know the mafia who is winning such tax breaks.

 

[Syed1.]

Does the Goverment of Pakistan have too much (unnecessary) control over exports? Is this restricting the growth of exports by private enterprise?

The fact that you have a goverment minister talking about exporting 'microwaves', does suggest too much bureaucracy?

Surely, the govermnet should be focussed one helping private enterprise meet global product standards that will allow them to be competitive...

Even more, focussing on having more students get high quality STEM based education which will help building depth to Pakistans economy.

Pakistan does not have much of a reputation for a location for IT outsourcing, because it does not produce enough STEM based students every year.

World over governments step in and try to support sectors in which their country is lacking. For 70 years we have only exported textile now someone is trying to change that osmein bhi masla