Islamabad: In a decisive move to bolster Pakistan’s economic standing on the global stage, Prime Minister Shehbaz Sharif has mandated the Ministry of Commerce and associated departments to strategically enhance the nation’s export capabilities, setting an ambitious target of $60 billion within the next three years.
According to Ministry of Information and Broadcasting, Prime Minister Sharif chaired a pivotal meeting of the National Export Development Board today, where he detailed the government’s vision for a substantial increase in exports. The meeting focused on several critical sectors with promising export potential. The Prime Minister underscored the urgent need for innovative policies and a comprehensive strategy involving research, development, and branding to elevate Pakistani products in the international market.
Further directives were issued to the Ministry of Power to draft a detailed plan aimed at reducing industrial power tariffs to lower production costs for exporters. Additionally, Shehbaz Sharif instructed Pakistani trade officers worldwide to intensify their efforts in promoting national exports.
Reflecting on the past fiscal year’s achievements, the Prime Minister highlighted that exports had stabilized at $30 billion, with IT exports soaring to $3.2 billion, attributing these gains to effective governmental policies. He also addressed the challenges faced by exporters, setting a two-week deadline for resolving these issues and demanding a subsequent report on progress.
Emphasizing collaboration, Shehbaz Sharif advocated for the inclusion of the private sector in policy-making processes to ensure their challenges are addressed comprehensively. He also called on the Ministry of National Food Security to cooperate with provincial bodies to enhance agricultural exports through improved services and the introduction of high-yield seed varieties.
A crucial directive aimed at enhancing logistical efficiencies included reducing the delivery times of Pakistani goods to Europe and America, urging immediate action to rectify shipping delays.
The Prime Minister concluded by stressing the importance of swift action in transferring Chinese export industries to Pakistan in collaboration with the Investment Board, and ensuring that delays in export refunds are eliminated.
The initiative has been met with optimism by industry leaders, who expressed confidence in the Prime Minister’s commitment to transforming Pakistan’s export landscape.