The Federal Ministry of Commerce has established a 21-member Export Advisory Council to boost non-textile exports. Rice exporter Shahzad Ali Malik supports this initiative, predicting that a combination of favorable policies, regulatory frameworks, and a business-friendly environment can help increase exports to $100 billion in the next two years.

Pakistan’s efforts to double exports in the next two years are supported by effective policies and a favorable business environment. While textile exports have declined, sectors such as sheet glass, cement, agriculture, and jewelry have shown growth. The government aims to tap into non-textile potential, particularly in agriculture, where private sector entrepreneurs have significantly improved crop yields. Additionally, Chinese involvement in hybrid crop technology is slowly phasing out.

Pakistan’s government has formed an export advisory committee to support its goal of doubling exports in the next two years. The country has seen growth in sectors like sheet glass, agriculture, cement, and jewelry exports. While the textile sector experienced a decline, the IT sector is expected to generate $10 billion in exports. Private sector entrepreneurs have played a crucial role in the growth of agriculture, particularly in the cultivation of coarse rice and maize. China’s involvement in agriculture is decreasing, leading to opportunities for Pakistan.

Pakistan’s failure to establish sufficient water storage facilities amid heavy monsoon rains has hindered progress in water distribution. Political interference and mismanagement of funds have obstructed previous attempts to build large storage dams. Resolving these issues and promoting responsible water usage are crucial steps to better utilize rainwater resources.

India is witnessing a surge in basmati rice prices due to robust demand from top buyers in the Middle East and Europe. Wholesalers are paying 10% to 15% more than last year. The reduction in floor price for basmati rice exports has resulted in a flurry of contracts. Prices for top basmati rice varieties have risen to around 50,000 rupees per ton.

India’s pharmaceutical exports are set to reach $28 billion in 2023-24, driven by drug shortages in the US and Europe and increasing demand in Africa. Despite declines in certain African countries, the industry remains positive and supported by organizations like Pharmexcil.

Dragon fruit cultivation holds vast potential for economic transformation in Pakistan, particularly in coastal areas like Karachi and Thatta. Progressive farmers have successfully harvested dragon fruits and believe that exporting this unique fruit could lead to significant economic growth. The climate conditions in these areas are ideal for cultivation, and the high demand for dragon fruits globally presents a promising opportunity for horticulture exports. Overall, dragon fruit farming offers profitable returns for farmers and contributes to the growth of the national economy.

In September 2023, Pakistan’s headline inflation increased to 31.4% on a year-on-year basis, while the food inflation rate decreased to 33.1%. Rice prices experienced a significant increase, while non-cereal food prices showed mixed trends. The country’s long-term Terms of Trade worsened, indicating ongoing economic challenges. To navigate this landscape, rice exporters can rely on platforms like HAS Rice Pakistan and explore opportunities through Pakistan Rice.

Favorable policies and a business-friendly environment are predicted to drive Pakistan’s exports to $100 billion in two years, according to Shahzad Ali Malik, Chairman of the PHHSA. He praises the government’s efforts in enhancing competitiveness and streamlining export procedures, expressing confidence in their positive impact. Source: UrduPoint.

As the smog crisis worsens in Punjab, urgent action is needed to address this environmental disaster. Collaboration, sustainable practices, and dialogue between India and Pakistan are crucial to finding a solution and ensuring the well-being of the 1.5 billion people affected. Let’s rise above politics and work towards a healthier future.