By Uzma Zafar
ISLAMABAD: Advisor to Prime Minister on Commerce and Investment, Razak Dawood Monday expressed pleasure over the considerable growth in the pharmaceutical exports, which grew by 22.6 percent during the first quarter (Q1) to over $68.1 million compared to $55.6 million during the corresponding period of last year.
“Alhamdulillah, I am glad to share that our pharmaceutical exports have gotten off to a good start this year. In value terms, our exports have grown by 22.6% in the first quarter (Q1) to USD 68.1 million as compared to USD 55.6 million in the corresponding period last year,” the minster tweeted. He said credited pharmaceutical exporters for this success as they worked hard to ensure positive growth in trade in this particular export sector.
“All this has been due to the hard work our Pharmaceutical exporters and renewed focus on exports. I take this opportunity to express my gratitude to Dr. Faisal Sultan @fslsltn and his team for their valuable support to the Pharma Industrial Sector,” he tweeted.
It is pertinent to mention here that the country exported pharmaceutical products worth US $68.176 million during July-September (2020-21) as against the exports of US $55.609 million during July-September (2019-20), showing growth of 22.60 percent, according to the Pakistan Bureau of Statistics (PBS).
Meanwhile, on year-to-year basis, the exports of pharmaceutical products witnessed growth of 57.99 percent during the month of September 2020 as compared to the same month of last year.
The exports of pharmaceutical product from the country during September 2020 were recorded at $27.149 million against the exports of $18.249 million in September 2019. On month-on-month basis, the exports of pharmaceutical products increased by 64.87 percent during September 2020, when compared to the exports of US $16.467 million during August 2020, the data said.
Meanwhile the Federal Board of Revenue (FBR) collected gross revenues of Rs1400 billion during the first four months of the current fiscal year against the collection of Rs1323 billion during the same period of last year, showing growth of 77 billion or 5.8 percent. The net revenue collection also grew from Rs1288 during July-October (2019-20) to Rs1337 billion during July-October (2020-21), showing growth of 3.8 percent.
According to break figures released by the board here Monday, the Income Tax collection stood at Rs. 470 billion while collection of Sales Tax, Federal Excise Duty, Customs Duty remained at Rs 643 billion, Rs81 billion and Rs 206 billion respectively. During the month of October only, the total collected revenue stood at Rs333 billion against the collection of Rs325 billion in the same month last year, showing growth of 2.46 percent. The Income Tax collection for July to October stood at Rs. 470 billion while the collection of Sales Tax, Federal Excise Duty, Customs Duty remained at Rs643 billion, Rs81 billion and Rs206 billion respectively.
