On Tuesday, Prime Minister Shehbaz Sharif led a National Export Development Board meeting where he set a target for the country’s annual exports to reach $60 billion within three years.
He instructed the commerce ministry and other relevant agencies to implement necessary measures to achieve this goal.
The Prime Minister highlighted that exports had exceeded $30 billion in the previous fiscal year and IT exports had surpassed $3.2 billion. He requested the ministry address issues raised by exporters and present a report within two weeks. PM Shehbaz committed to chairing the National Export Development Board meetings every six weeks.
He emphasized the need for collective effort for national development and praised the business community for their contributions despite challenges. The Prime Minister urged the commerce ministry to finalize policy proposals with export sector representatives and instructed the Ministry of National Food Security to enhance agricultural exports through better extension services and high-yield crop varieties.
He also called for reducing delivery times for Pakistani goods to Europe and America by addressing shipping issues and facilitating the transfer of Chinese export industries to Pakistan. Research, development, innovation, and brand development were also highlighted as key areas for boosting exports.
PM Shehbaz warned against delays in export refunds by the Federal Board of Revenue and stressed the importance of trade officers promoting Pakistani exports abroad. He directed the power ministry to create a plan for providing low-cost electricity to industries and called for the private sector’s involvement in policymaking.
The meeting was attended by various federal ministers, the Deputy Prime Minister, and representatives from different sectors. They expressed appreciation for the Prime Minister’s proactive approach and his initiative to ensure timely refunds to the export industry. The meeting also reviewed steps taken for export sector uplift and discussed a five-year plan to double exports.