Global Lockdowns Might Affect Exports in Coming Months: Says Govt.

global lockdowns

The government is fearful that the exports of Pakistan might get affected in the months to come as the world is returning to lockdowns, amid the resurgence of coronavirus cases.

As per details, the Adviser to PM on Commerce and Investmnet-Abdul Razak Dawood tweeted that with the world going back to the lockdowns imposition, amid coronavirus resurgence, the demand of exported goods might also get a hit. He appealed to the exporters to be active and aggressive so that they may be able to hold their position in the global markets.

The Adviser to PM further wrote that coronavirus is an unpredicted crisis in recent human history and has got major effects on the global economy.

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He shared that the latest figures as shared by the World Bank, indicating that the epidemic has led to the GDP contraction across the world.

The data shared by the Pakistan Bureau of Statistics indicated that the exports of the country have gone down by 0.65 percent in the first quarter of the present financial year majorly owing to coronavirus.

The government lifted the bar on the exports of 7 items classified as personal protective equipment (PPE) in order to allow the manufacturers to give honor to the international orders.

The Finance Ministry in its latest report indicated that in the first quarter of the present financial year, both the exports and imports have been noted under their respective levels as compared to the corresponding quarter of the last fiscal year.

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