ISLAMABAD, Jan 25: The government is considering a package of incentives for exporters to explore new markets in the African countries.
A senior official in the commerce ministry told Dawn on Friday that the move was aimed at enhancing the existing trade ratio with these countries.
The trade policy 2002-03 has promised more incentives for increasing the volume of exports to these countries.
The official said that in the first step, the government would provide 25 per cent freight subsidy on export of new and old products to these countries.
To claim the freight subsidy, a separate account would be maintained out of export development fund with National Bank of Pakistan-FTC branch, Karachi.
This account would be replenished once every three months or earlier by the government, said the official.
Official statistics made available to Dawn showed that Pakistan total exports to around 51 African countries stood at $426.637 million in 2001-02 against $491.195 million in 2000-01, showing a decline of 13.14 per cent.
And the total export of these countries to Pakistan stood at $349.597 million in 2001-02 against $358.446 million over the corresponding year, showing a decline of 2.46 per cent.
Of these countries, exports to South Africa stood at $74.867 million in 2001-02 against $69.216 million over the corresponding year, showing an increase of 8.16 per cent; followed by $ 52.147 million export to Kenya against $22.488 million of previous year, showing an increase of 131.8 per cent.
