Microwave Oven Export Begins – The Categorical Tribune

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ISLAMABAD:

Pakistan is rapidly diversifying its exports through high quality and globally competitive technical products, noted Prime Minister’s Advisor on Trade, Abdul Razak Dawood.

At an internal review meeting to discuss the completion of the Strategic Trade Policy Framework (STPF) in the trade department on Friday, the advisor stated that one of the objectives of the framework is to diversify other than traditional export products.

“By promoting exports to new sectors, particularly engineering and pharmaceuticals, we will reduce our dependence on the five traditional export sectors,” he said.

“This was also supported in the budget for 2020-21 by lowering import tariffs on raw materials and measures to rationalize tariffs.”

He announced that the draft STPF is currently being considered by various stakeholders and that their views will be included in the final draft, which will shortly be submitted to the Economic Coordination Committee (ECC).

In terms of export opportunities for emerging sectors, Dawood underlined that Pakistan’s engineering companies, especially those specializing in home appliances, produce internationally competitive products.

With regard to the diversification policy, exports of microwave ovens from Pakistan were confirmed for the first time. With government support, more technical products will soon be added to the list of exportable products.

The PM advisor recalled that import duties on television components had also been reduced to encourage local production of television sets, which had promising export potential in the coming years.

The consultant was optimistic that the results of the first cell phone manufacturing policy recently announced by the government will be seen in the coming months in the form of an increase in exports of locally made cell phones.

Posted in The Express Tribune on June 27, 2020.

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