Humayun Akhtar Khan, Pakistani Commerce Minister, informed that country's exporters are 10-15 percent off track in global markets on account of heavy production costs, high inflation and subsidies offered by competitor nations.
He told pressmen that production costs have upturned quickly after cancellation of quotas, labour costs have shot up and there has been 10 percent upswing in capital costs.
Exports sector is lagging behind owing to tightening of monetary policy. Ministry of Commerce is making efforts to achieve market access and Free Trade Agreements.
Exports during November 2006 attained 23.9 percent growth as against November 2005 and this figure was 7.6 percent up from October 2006. Exports have upturned $266 million from last year's $205 million November figure. Hence the target of $18.6 billion has become obtainable.
There has been rise in textile-apparel exports to EU and US, which make up over half of country's total textile-apparel exports. Healthy cotton crop is anticipated this year which can elevate value-added textile and garment products.
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