ISLAMABAD, April 30 (Xinhua) -- Pakistan is all set to announce a special export package with a special focus on trade of value-added products to help boost the country's exports, an official source told the local media on Monday.
The Pakistani government is currently working on a new package, which will be focused on boosting the non-conventional and value-added exports, the source said.
Pakistan's textile exports increased by 13 percent during the first nine months of the fiscal year of 2017-18 and expanded by 24 percent in the month of March 2018 on a yearly comparison, largely due to the export package worth 180 billion rupees by the Pakistani government during the fiscal year of 2017-18.
Cotton exports are one of the key products of Pakistan and the federal government is working with provincial governments to chalk out and devise a policy and plan to put a full-stop on the conversion of cotton growing areas into sugarcane-cultivating areas.
Pakistan rolled out several measures in last five years, including reducing markup rates of Long Term Financing Facility (LTFF) and Export Refinancing Facility (ERF) to historic lows of 5 percent and 3 percent, respectively.
Moreover, Islamabad also launched duty free imports of textile machinery, uninterrupted supply of gas and electricity for relevant industries, zero-rating of five key export sectors, among others to boost the country's export.
