ISLAMABAD: Prime Minister Shahbaz Sharif has set an ambitious target of increasing the country’s exports to $60 billion per year, directing the Ministry of Commerce and related institutions to take concrete steps to achieve this goal within the next three years.
During a meeting of the National Development and Exports Board in Islamabad, chaired by Prime Minister Muhammad Shahbaz Sharif, the Prime Minister noted that, Alhamdulillah, due to government policies, domestic exports surpassed $30 billion in the last fiscal year. Additionally, information technology exports have exceeded $3.2 billion, which is a positive development.
In the meeting, the Prime Minister instructed that the issues faced by exporters be addressed, with a report to be submitted within the next two weeks. He announced that he would preside over the National Development and Exports Board meeting every one and a half months. He emphasized that everyone must work diligently for Pakistan’s development and commended the businessmen and investors who have contributed to the increase in Pakistan’s exports despite challenging conditions.
Further directives from the Prime Minister included having the Ministry of Commerce finalize policy proposals in collaboration with representatives from sectors with high export potential. Additionally, the Ministry of National Food Security should work with the provinces to improve extension services for increased agricultural exports. This includes ensuring the export of quality seeds and agricultural commodities through further processing.
The Prime Minister also called for the introduction of high-yielding agricultural commodities, immediate resolution of export shipping issues, and reduction of delivery times for Pakistani goods to Europe and America. The Ministry of Trade and Investment Board is to ensure cooperation regarding the relocation of Chinese export industries to Pakistan.
To boost exports, the Prime Minister stressed the importance of research and development, innovation, and brand development to make Pakistani goods unique. He warned that any interruption in these efforts would not be tolerated. He urged trade officers in Pakistani embassies worldwide to actively promote Pakistani goods and guide Pakistani exporters.
The Prime Minister instructed the Ministry of Power to develop a comprehensive plan to reduce electricity costs for industries. He highlighted the crucial role of the private sector in a country’s development and called for their inclusion in the policy formulation process.
Representatives of the export industries at the meeting praised the Prime Minister for his continuous efforts to resolve their problems. They expressed that his special interest in the export sector is encouraging for industrialists. Exporters also appreciated the initiative for timely refunds by FBR to the export industry.
