Saturday, December 2, 2023

Exports Increased by 27 % in September: Razak Dawood

Exports increased by 27.4 percent in September, according to Abdul Razak Dawood, Advisor to the Prime Minister on Commerce and Investment, while the country’s startups raised a record US$305 million in the first nine months of 2021, according to Dawood.

Razak Dawood, who shared both news on his Twitter account, stated that they had received provisional numbers for export of commodities, which showed that it had climbed by 27.4 percent in September 2021 to US$2.41 billion, as opposed to US$ 1.89 billion in the same month in 2020.

He went on to say that exports climbed by 28 percent in the first quarter of the fiscal year 2021-22, reaching US$ 6.99 billion, compared to US$ 5.47 million in the same period the previous fiscal year.

“This has been made possible by the dedication of our exporters [and] they deserve to be commended for their efforts,” he added, adding that the import data were being examined in cooperation with other government ministries and will be revealed shortly.

The investment adviser went on to say that during the first nine months of 2021, Pakistani companies raised a total of US$305 million in investment from around the world, setting a new record.

According to him, the areas to go into include e-commerce; fintech; health; and freight. He also encouraged companies to look into the agriculture industry, which he claimed had a lot of potentials.

Read Also: Oil sales increased by 24% in the first quarter of FY22

Razak Dawood also congratulated Maqsad on securing the largest education-technology grant in Pakistan’s history, amounting to US$2.1 million.

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