Islamabad: At the Innovation Lab event hosted by the Ministry of Planning, Federal Minister Ahsan Iqbal emphasized the critical need for Pakistan to dramatically increase its exports to ensure economic stability and sovereignty. In his keynote address, he proposed a target of $100 billion in exports to overcome the current challenges faced by the country’s economy.
According to Press Information Department, the meeting drew attention to the significant gap between Pakistan’s current export levels of $30 billion and the proposed target. Iqbal outlined the detrimental impact of a persistent trade deficit and stressed the necessity of a National Export Emergency to enhance the global competitiveness of Pakistani products. He highlighted the importance of value addition and called for the private sector to innovate and align more closely with international market demands.
The session also featured Federal Minister for Commerce Jam Kamal, who discussed the government’s strategies to mitigate inflation and boost economic growth through increased exports. Kamal praised the recent improvements in agricultural export figures and introduced the “Brand Pakistan” campaign, aimed at enhancing the global presence of Pakistani products. Both ministers underscored the urgent need for policy measures to reduce dependence on IMF programs and to foster a conducive environment for business and investment, particularly for small businesses which are seen as potential contributors to achieving the $40 billion export target over the next five years.