The Ministry of Commerce will reduce tariff on raw material to steer economic growth in the country, said Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood.

In a series of tweets on his official Twitter handle, he said that the commerce ministry believed that the reduction in tariff on raw material would result in long-term growth and consistent economic activity that would lead to higher production and growth in exports.

“In the first six months of FY21, exports stood at $8.72 million,” he said. “This number is projected to rise to $17 million for full year which will depict an increase of 38% compared to the previous fiscal year.” The Ministry of Commerce has also decided to hold ‘Silk Route Connect’ conference in Tashkent, Uzbekistan in the upcoming summer, he revealed.

Published in The Express Tribune, February 9th, 2021.

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