Islamabad (May 30, 2018): Economic Coordination Committee of the Cabinet has approved extension of Prime Minister’s Export Package for the next three years.
The decision was taken at an ECC meeting chaired by Prime Minister Shahid Khaqan Abbasi in Islamabad today.
The Prime Minister’s Export Package has vitally contributed towards the turnaround in exports in Financial Year 2018, which had been continuously declining since Financial Year 2014.
During the first ten months of the current financial year, the exports have registered an increase of 14 percent compared with the corresponding period of the previous year.
Besides, electric fans and other appliances, electricity equipment and cables, transport equipment leather products, stationery, furniture, fresh fruits and vegetables, and meat and meat preparations have also been included in the package.
The extension of the Prime Minister’s Export Package for the value-added and non-traditional products and non-traditional markets for a period of three years will provide predictability to local and foreign investors to invest in export-oriented production capacities.
These components of the exports package are estimated to provide competitiveness benefits of around 65 billion rupees annually to the export sector.
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