ISLAMABAD: The Commerce Ministry is triumphant at 17 percent growth in exports during FY2020-21, indicating that exports will cross $ 25 billion mark.

According to Prime Minister’s Advisor on Commerce and Investment, Abdul Razak Dawood, merchandize exports will cross $ 25 billion whereas services exports will be $ 5 billion.

Razak Dawood and Secretary Commerce, Sualeh Ahmad Faruqui will formally announce trade figures at a press conference on Thursday (today).

On Wednesday, Prime Minister, Imran Khan in his speech in the National Assembly stated that Pakistan’s exports have posted a growth of 17 per cent during 2020-21. He did not share exact foreign trade figures but on the basis of 17 per cent, it can be assumed that exports will cross $ 25 billion in 2020-21 as compared $ 21.394 billion during 2019-20.

Last Pakistan achieved $ 25 billion mark in FY 2012-13 during the government of Pakistan People’s Party (PPP).

A couple of days ago, Secretary, Commerce, Sualeh Ahmad Faruqui informed the Senate Committee on Commerce that exports are performing very well.

When Business Recorder contacted Secretary Commerce and asked the final figure of exports of FY 2020-21, he replied that figures will be consolidated on Thursday (July 1) at 10am.

However, a senior official in federal government confirmed with authority that exports have crossed $ 25 billion mark.

The country’s imports which stood at $ 50.032 billion during the first 11 months of current fiscal are expected to be $ 55 billion during FY 2020-21 which implies trade deficit will be over 35 per cent as compared to 27.12 per cent in 2019-20.

Copyright Business Recorder, 2021