December 15, 2020: Adviser to Prime Minister for Commerce and Investment, Abdul Razak Dawood on Tuesday appreciated the role of the Federal Board of Revenue (FBR), especially Pakistan Customs, in reducing the level of smuggling.
This has enabled more formal importation thereby increasing revenue, Adviser said in a tweet.
He said that it has also created space for local industry to sell more products and hence encourage import substitution.
While he said that last year, Millat Tractors exported 1,100 tractors and related engineering products worth $9 million.
“I urge exporters to follow this example and focus on non-traditional products and markets,” he said.
The adviser said that the first consignment of 150 tractors has already been delivered, which breakthrough is in line with our “Look Africa Policy”.
He Said that under the forthcoming Strategic Trade Policy Framework (STPF), product and geographical diversification is one of the key pillars for expanding our exports.
Razak Dawood applauded Millat Tractors for securing an export order for 600 tractors to Angola.
