Exports of engineering products register 21% increase in FY18

November 01, 2018: Exports of engineering products in last fiscal year 2017-18 registered about 21 percent growth as compared to the previous year of 2016-17.

Engineering goods worth $190.633 million were exported during the period 2017-18 as compared to the exports of $158.610 million in the same period last year, a senior official of ministry of commerce and textiles told APP.

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

The official said about electric fans valuing $23.826 million were exported as compared to the exports of fans worth $25.298 million in eleven months of the last fiscal year.

Replying to another question, he said the government has decided to revive the Engineering Development Board (EDB) to concentrate on engineering products for increasing exports in this sector.

“We have planned to evolve a new road-map for the promotion of engineering industry,” he said adding that it is the top priority of the government to increase engineering exports including exports of auto parts, motorcycles, air conditioners and other products.

The government, he said, would give priority to promotion of export-led growth and would reduce dependence on imports.

"We have identified several sectors to boost country’s exports," he said. “Primarily, we are focusing on increasing exports in engineering and Information Technology, and innovated technology through enhancing their competitiveness in global market. We would achieve exports target and additional exports for economic development and prosperity,” he said.

To a question, the adviser said the government is committed to enhancing exports and increasing manufacturing in engineering sector.

“We would focus on promoting "made in Pakistan" goods and discourage imports,” he remarked.

(APP)