Exports of engineering products register 21% amplification in 2017-18

ISLAMABAD: Exports of engineering products in preceding fiscal year 2017-18 registered about 21% boost comparatively to the previous year of 2016-17.

According to senior official of ministry of commerce and textiles, engineering goods of value almost $190.633 million were exported during the period 2017-18, however, goods of worth $158.610 million were exported in the same period last year.

He also said that during this phase, auto parts and accessories of value US$ 15.546 million were exported against the $12.55 million in the same period last year.

Furthermore, electric fans of worth $23.826 million were exported as compared to the exports of fans worth $25.298 million in eleven months of the preceding fiscal year.

He also added, government had determined to restore the Engineering Development Board (EDB) to emphasis on engineering products in order to augment exports in this division.

The official said, “We have planned to develop a new road-map for the encouragement of engineering industry.” Also it is on apex precedence of the government to enlarge engineering exports consisting auto parts, motorcycles, air conditioners and various related products.

The government is trying their level best to encourage export-led growth and also to diminish reliance on imports.

The official added, “We have known numerous sectors to improve country’s exports. Mainly, our focal point is augmentation of exports in engineering and Information Technology, and innovated technology by developing their competitiveness in global market. We shall try to realize exports objectives and additional exports for economic expansion and affluence.”

He also said, “We are more spotlighting on encouraging “MADE IN PAKISTAN” goods, than importing from different countries.”

The post Exports of engineering products register 21% amplification in 2017-18 appeared first on ARYNEWS.

from ARYNEWS https://ift.tt/2AJGnWp
via IFTTT