Highlights
- Pakistan collaborated with China to increase exports by up to $250 billion.
- The government has developed strategies to increase exports.
- Pakistan’s exports decreased by 3.07% in the last few months.
The Federal government has promised to boost the nation’s exports to $100 billion in cooperation with China and to reach a staggering $250 billion in the second phase.
Details indicate that the federal government wants to raise exports by 700%, and sources claim that it has pushed the Chinese government to work with it to achieve this goal.
The government has developed a strategy to increase national exports to $250 billion annually. According to government sources, the annual exports would increase to $100 billion during the first five years.
China and Pakistan have agreed to work together to increase the nation’s exports. To carry out the plan, a joint working group would be established by the two nations. The working group would include representatives from both the public and private sectors.
Pakistan will profit from China’s extensive experience in boosting exports at a quick pace. According to government sources, the worldwide China initiative would be tied to the agricultural, industrial, and trade sectors.
However, the Pakistan Bureau of Statistics (PBS) stated on November 2 that Pakistan’s exports decreased by 3.07% in October compared to the month before, September.
The Pakistan Bureau of Statistics (PBS) reported that on a monthly and annual basis, the exports decreased by 3.07% and 3.77%, respectively.
According to the PBS report, exports fell by 3.07% in October to $2.37 million from September’s $2.44 million.
