Pakistan extends package for exports

The National Assembly of Pakistan was informed that export enhancement package has been extended for another three years. Parliamentary Secretary for Commerce and Textile Aliya Hamza Malik told the House during Question Hour that this package would provide long-term policy to support and encourage non-traditional exports of the country.

She said gas tariffs for LNG have been lowered for Punjab to bring it at par with other provinces to reduce cost of production.

Aliya Kamran said import and export regulations have also been revised to make existing regulations more business friendly.

Taking floor Minister for Power Omar Ayub Khan said on the direction of Prime Minister Imran Khan cost of doing business are being reduced to facilitate investors. He termed invisible regulatory in previous governments an impediment in reducing cost of doing business.

Minister for Revenue Hammad Azhar informed the House that government is introducing comprehensive set of economic and structural reforms to resolve the economic issues.

Responding to a question, he said that the stock of outstanding external debt of Pakistan till May 2019 stands at 10,838 billion rupees.

He said government is focusing on exports competiveness, re-establishing fiscal stability and improving governance in key utilities and State-Owned Enterprises. He said that inflation rate stands at 10.3 per cent.

The minister said that government had retired record foreign loans worth of 9.5 billion dollars during the fiscal year, which had never been done by any government in single year. He said the government is focusing to enhance exports and foreign remittances for putting the country on the path of development and prosperity.

News Network International