Pakistan plans to invest heavily to boost export competitiveness

According to a report by Pakistan’s “Business Record” on October 20, Pakistan’s Minister of Commerce recently announced during an inquiry by the Senate Committee on Textile Industry that in order to further enhance the competitiveness of Pakistan’s export sector, the Pakistani government plans to invest 120-180 billion rupees to help The export sector will improve technology and quality levels, provide tax incentives and reduce the cost of doing business, with most of the funds going to the textile industry. At present, the plan has been approved by the Prime Minister and still needs to be reviewed by the Ministry of Finance and the Federal Board of Revenue of Pakistan. The senators present at the meeting also expressed concern about the decline in cotton production in Pakistan, and pointed out that due to the decline in cotton cultivation income, cotton-producing areas in Punjab have begun to switch to other cash crops. Pakistan plans to invest heavily to boost export competitiveness