Pakistan’s exports witness substantial increase due to efforts of SIFC

ISLAMABAD: Pakistan’s exports have experienced a notable rise thanks to the initiatives of the Special Investment Facilitation Council (SIFC).

In the financial year 2024, agriculture and Information Technology, which are key sectors prioritized by SIFC, saw considerable improvements in their export figures.Hub Power invests in lithium mining, battery manufacturing under SIFC

During this fiscal year, Pakistan exported over six million tons of various rice types, generating four billion dollars in revenue, which is commendable.

Given this achievement, the target for rice exports in the upcoming financial year has been established at five billion dollars.

This landmark achievement is a significant milestone for Pakistan’s agricultural sector, anticipated to create more opportunities in international markets and further advance domestic agricultural output.

Following the success in the rice industry, an Italian food trading company has formed a partnership, holding a fifty percent stake, with the Pakistani firm Fatima Euricom Rice Mills.

Additionally, the Economic Coordination Committee has permitted the export of five hundred thousand metric tons of sugar, taking into account the availability of ample additional stocks.

Moreover, SIFC’s support has resulted in a remarkable 42% increase in IT exports during the fiscal year 2024, bringing in revenue of 292 million dollars.

These accomplishments achieved through SIFC’s efforts will not only enhance Pakistan’s standing in the global market but also pave the way for new opportunities in future trade agreements and collaborations.