BEIJING: Cheng Xizhong, Visiting Professor of Southwest University of Political Science and Law and Senior Fellow of the Charhar Institute on Thursday said that Prime Minister Imran Khan’s policies to encourage exports are producing great results.
Over the past year, under the circumstances of serious pandemic and general downturn of world economy, Pakistan’s exports of various commodities and services have increased significantly, which reflects the wise and correct decision-making of the Imran Khan administration.
Prof. Cheng, who is also former Chinese Defense Attache in South Asian countries, noted that according to Pakistan Bureau of Statistics (PBS), Pakistan`s exports witnessed an increase of 32.77% during the first eight months of the current fiscal year as compared to the corresponding period of last fiscal year.
He said it was really a miracle that last month, Pakistan`s exports soared by 51.23% as compared to February 2021.
Prof. Cheng also noted that the exports of textile commodities rose sharply by 26.08% during the first eight months of the current fiscal year as compared to the corresponding period of last fiscal year.
The exports of Information Technology (IT) services increased by 32.63% during the first seven months of the current fiscal year as compared to the corresponding period of last fiscal year, earning$1,486.89 million.
He commented that in addition to the export stimulus policies, these amazing achievements are closely related to the Imran Khan administration’s correct macroscopic equilibrium between pandemic prevention and control and economic development, export-oriented industry development and continuous construction of the China-Pakistan Economic Corridor (CPEC) and Special Economic Zones (SEZs).
The sustained and substantial increase in exports will enhance Pakistan’s financial capacity for further promoting industrialization and modernization and improving people’s livelihood, thus forming the situation of benign cycle development, he added.
