By our correspondent
KARACHI: In fiscal year 2024, Pakistan’s export sectors have witnessed remarkable growth, largely fueled by the strategic initiatives of the Special Investment Facilitation Council (SIFC), which has concentrated efforts on agriculture and information technology. Notably, rice exports soared, exceeding 6 million tons and generating a staggering $4 billion in revenue. Building on this success, authorities are aiming for an ambitious $5 billion target for the upcoming fiscal year’s rice exports.
This agricultural success has attracted foreign investment, exemplified by an Italian food trade company acquiring a 50% stake in Fatima Evycom Rice Mills, reflecting increasing global confidence in Pakistan’s agricultural sector. Additionally, the Economic Coordination Committee has approved the export of 500,000 metric tons of sugar, leveraging the surplus stock available in the country.
The IT sector, another focus area for the SIFC, reported a significant 42% growth in exports during FY2024, generating $292 million. These developments are expected to bolster Pakistan’s standing in international markets and pave the way for future trade agreements and partnerships.
