Look Africa Initiative helps increase Pakistan’s exports by 10 percent: Advisor

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By Muhammad Luqman
Pakistan’s exports to African countries have increased by 10 percent over the last ten months as compared to the same period during last Fiscal Year, said Advisor to Prime Minister on Commerce, Abdul Razak Dawood on Friday.
“I would like to commend my team at the Ministry of commerce for the ‘Look Africa Policy Initiative’ under which rice exports has increased by 20 percent from US $ 500 to US $ 600 milliom, tractors from US $ 9 to 15 million, clothing from Us $ 4 to 50 million and bed linen from US $ 30 to US $ 36 million, he shared these view on his twitter account,” Razak Dawood said in a twitter message.

He also announced that Drawback of Local Taxes and Levies (DLTL) refunds of Rs 828 million for non-textile sector had been transferred to State Bank of Pakistan (SBP) and reimbursement had started from Friday.
He said the western economic block would gradually opening up their market and there were trickles of order coming from them to provide huge opportunity to the local industrial sector.

The adviser said, “I am appealing to local textiles industry to take full advantage of these new opportunities to enter in new segment and new geography”.
He reiterated that the government would fully support to the Industrial sector in that regard.

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