Strategic decisions to up renewable share in energy mix: Dawood

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ISLAMABAD

The World Economic Forum (WEF) assured its support for the implementation of Pakistan’s development agenda and provides required technical support. The Word Economic Forum (WEF) President, Borge Brende called on Adviser to Prime Minister on Commerce, Industries and Production and Investment, Abdul Razak Dawood to discuss areas of mutual interest relating to trade and investments in Pakistan, said in press release issued by Ministry of Finance here on Thursday.

The adviser to PM, Razak Dawood emphasized that Pakistan has taken a strategic decision to increase share of renewable in the country’s energy mix which offers massive investment opportunities to investors. The current government was focusing on providing affordable energy especially for industry.

Further, he apprised that Special Economic Zones (SEZs) provide incentives to investors by allowing duty free import of machinery besides tax holidays for ten years and urged the companies to make investment in these zones to get better returns on their investments. Moreover, Pakistan has launched a program named Regulatory Guillotine to ease the business regulations.

Meanwhile, a delegation of the Rice Exporters Association on Thursday called on Adviser to Prime Minister on Commerce, Textile, Industries and Production Abdul Razak Dawood. The delegation thanked the adviser over taking steps for the removal of rice exports ban to Qatar.

Expressing his views on the occasion, Razak Dawood urged the Rice Exporters Association to benefit from the Qatar and Iran market. He vowed to increase rice exports from $2billion to $5billion in upcoming five years.

Earlier, the Trade Development Authority of Pakistan (TDAP) had declared that Pakistan rice exports exceeded by $2 billion mark for the financial year ended 2017-18. An increase of 29.15 per cent in rice exports was registered during 11 months of the 2017-18 fiscal year as about 3.842 million metric tons of rice worth $1.889 billion was reported to had been exported during this period.

During the period from July-May FY18, 461,472 metric tons of basmati rice worth $478.853 million was exported against the exports of 406,824 metric tons worth $385.746 in the same period last year. In last 11 months of the financial year 2017-18, basmati rice exports grew by 24.14 per cent as compared the exports of the corresponding period of last year, the data further added.

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