Skip to main content

China to declare 313 Pakistani products ‘duty-free’: Razzak Dawood

A high level duo lead by Dr. Firdous Ashiq Awan presiding over proceedings addressing a press conference today, Thursday announced that 313 Pakistani products will be declared ‘duty-free’ by China, ARY News reported.

A press conference conducted by Special Assistant to the Prime Minister for Information and Broadcasting Dr. Firdous Ashiq Awan and Advisor to Prime Minister on commerce Abdul Razak Dawood in a press briefing expressed happiness on the successful arrival of stranded Pakistani prisoners in Malaysia.

315 prisoners of Pakistani descent were freed from Malaysian prison after completion of their jail terms.

Taking over proceedings Dawood expanded on trade and business related matters of the State, saying: There has been a lot of talk about our export’s suffering and people question related to our export figures quite often, I would like to clear the air on our exports.”

“We must take a look at the global trade, global trade has suffered a 3 percent decline due to the US-China ‘trade war’, due to global trade decline our primary target markets have reduced prices on the products we are importing, prices have been reduced up to 7.2%.”

Adding further, Dawood said that there is no significant change in the export figures from last year, “where global trade has suffered a 3% deficit Pakistan has maintained it’s export figures to that of last year which is a positive indication, a reasonably good performance.”

Read More: ECC okays Rs.20 bn sovereign guarantee to stabilize stock market

Continuing on Dawood counted the quantum increase in export items quoting increments in the garments and textile sector.

“Our trade imports have decreased by $4 billion which is an indicator that Pakistan is moving towards self reliance and our trade gap is closing.”

The commerce advisor expressed hope that the upcoming year will yield even better trade results for the country if market access is provided to the businessman.

Shedding light on the Free Trade Agreement (FTA) with China, Dawood said that they have added an additional clause to the agreement empowering Pakistan to reserve the right that if Pakistan’s industry suffers due to China then Pakistan can take ‘safeguard measures’ which consist of short and long-term measures.

“A business delegation from Pakistan is heading to China on June 17, and I myself will go to China in July and then a major delegation will embark towards China in November,” revealed Dawood.

We aim to bring investments from China and increase our exports to China.

Answering a question related to the Judiciary Awan opined, “The Supreme Judicial Council (SJC) has noticed attorney general of Pakistan for June 14 along with other stakeholders, due to binding law of the SJC demanding secrecy an in-camera briefing is held and till the SJC does not set terms and priorities pertaining to the verdict and gives us clear instructions, we are lawfully bound to not share that information with the media.”

Awan announced that the Minister for Law will hold a briefing on whatever decision is undertaken by the SJC.

 

The post China to declare 313 Pakistani products ‘duty-free’: Razzak Dawood appeared first on ARYNEWS.

Labels:

Comments

Post a Comment

Popular posts from this blog

Accountability court hears assets case against Ishaq Dar

ISLAMABAD: An accountability court in Islamabad on Wednesday resumed the hearing of a reference filed against former finance minister Ishaq Dar by the National Accountability Bureau (NAB) for allegedly accumulating assets beyond his known sources of income.  Judge Muhammad Bashir is recording the statement of a prosecution witness, Ishtiaq Ahmed. At the previous hearing, the accountability judge had reserved his verdict on an application filed by two co-accused seeking acquittal in the case. Naeem Mehmood and Mansoor Rizvi, who are directors of Dar’s companies, had filed the application requesting the judge to exonerate them from all charges for want of evidence. Qazi Misbah, the counsel for the two co-accused, contended the prosecution has failed to provide compelling evidence to prove the allegations leveled against his clients. The third co-accused President National Bank of Pakistan (NBP), Saeed Ahmed, had already filed an application before the court for his acquittal wh...
Post a Comment
Read more

SFA raids several restaurants in Karachi, imposes fine

KARACHI: The Sindh Food Authority (SFA) on Friday raided several restaurants in city’s North Nazimabad area over unhygienic conditions, ARY News reported. According to the SFA, one of the restaurants was found utilizing the used oil multiple times. The items were also not properly frozen while crockery for serving the food was also not clean. The team imposed a fine of Rs 50,000 on the restaurant. The SFA team found hygiene standards were sheerly compromised in food making to the core. The food inspectors said they had previously served notices to the food outlets, but the restaurant owners apparently turned a blind eye to it. Raids were also conducted in district Malir and Gulshan-e-Hadeed. Sanitary conditions and lack of fumigation facilities were found at the restaurants in some of the Malir outlets. The SFA team also raided a bakery ‘Friend Bakers’ and imposed a fine of Rs 20,000 over poor hygiene.  Similarly another roadside restaurant was fined Rs 20,000 for neglecting he...
Post a Comment
Read more

Trump says US generals feel Beirut blast was likely an ‘attack’

WASHINGTON: President Donald Trump on Tuesday cast a massive explosion in Beirut as a possible attack, despite statements by Lebanese leaders that it was likely caused by highly explosive material that had been stored at warehouses in the capital for years. “The United States stands ready to assist Lebanon,” Trump said at a White House briefing of Tuesday’s explosion, which killed at least 78 people and injured thousands. “It looks like a terrible attack.” When asked later about his depiction of the explosion, Trump said that he had met with some U.S. generals who feel the blast was not “some kind of a manufacturing explosion type of event.” He told reporters that according to these unnamed generals “they seem to think it was an attack. It was a bomb of some kind.” The Pentagon referred questions to the White House. Two U.S. officials, speaking on the condition of anonymity, said it was unclear where Trump was receiving his information but that initial information did not appear...
Post a Comment
Read more