ISLAMABAD: An annual export target of $35 billion by 2018 has been set in the medium-term (2015-18) Stra­tegic Trade Policy Frame­work announced on Tuesday.

The framework will be implemented with a total funding of Rs18bn in 3 years. Four major targets include: boosting expo­rts, improving competitiveness, transition from factor-driven economy to efficiency-driven and incr­easing regional trade share.

For the current fiscal year, the government has approved Rs6bn. In order to increase the sophistication level of identified sectors — fans, home appliances, rice, cutlery and sports goods — an incentive for technology upgradation will be provided in the shape of investment support of 20 per cent or mark-up support of 50pc up to a maximum of Rs1 million a year per company will be available for import of new plant and machinery.

Published in Dawn, March 23rd, 2016