The Ministry of Commerce and relevant agencies have been instructed by Prime Minister Shehbaz Sharif to implement practical measures in order to achieve the ambitious goal of increasing Pakistan’s annual exports to $60 billion within three years.
ISLAMABAD, the Prime Minister presided over the National Export Development Board meeting and mentioned, “I am grateful that our exports crossed the $30 billion mark in the previous fiscal year, with IT exports reaching over $3.2 billion. This reflects the success of our government’s policies.”
Shehbaz stressed at the meeting that “I will personally chair the National Export Development Board meetings every month and a half,” and that the problems brought up by exporters have to be fixed within the next two weeks along with a report. To advance Pakistan, we must all put forth a lot of effort. I applaud the business leaders and investors who have contributed to Pakistan’s increased exports in spite of difficult conditions.”
The Prime Minister also gave the Ministry of Commerce orders to complete policy recommendations in conjunction with representatives from export-oriented industries. Additionally, he gave the Ministry of National Food Security the responsibility of collaborating with the provinces to enhance extension services, guaranteeing premium seeds and additional processing of agricultural goods for export.
In order to shorten delivery times to Europe and the US, Shehbaz also underlined the significance of introducing high-yielding agricultural product varieties and resolving shipping issues. In order to facilitate the transfer of Chinese export industries to Pakistan, he also urged the Board of Investment and the Ministry of Commerce to work together.
In response to the rise in exports, the prime minister stated, “Research and development, innovation, and brand development should be prioritized in order to increase exports and give Pakistani products a distinctive identity. The FBR will not accept any delays in returning exporters’ money. Pakistani exporters should be assisted and guided by trade officers stationed in Pakistani embassies across the world. “
The Prime Minister requested a detailed strategy from the Department of Energy aimed at lowering the expenses of power for businesses. He emphasized that the private sector is key to a nation’s progress and ought to be part of the policy-making process to tackle their concerns.
Industry leaders who export goods commended Shehbaz for regularly coming together to discuss their concerns, recognizing his keen focus on the export sector as motivating and valued his effort to guarantee prompt reimbursements from the Federal Board of Revenue.
Ishaq Dar, who serves as both Deputy Prime Minister and Finance Minister, was present at the meeting, along with Federal Ministers Jam Kamal Khan, Ahsan Iqbal, Rana Tanveer Hussain, Muhammad Aurangzeb, Sardar Owais Khan Leghari, and Dr. Musadik Malik. Also attending were Ministers of State Ali Pervaiz Malik and Shaza Fatima Khawaja, Deputy Chairman of the Planning Commission Jahanzeb Khan, Governor of the State Bank, Prime Minister’s Coordinator Rana Ehsan Afzal, Chairman of the FBR, and various relevant officials. Additionally, a significant number of exporters from diverse sectors such as textiles, IT, leather, and agriculture were in attendance.
