Prime Minister Shehbaz Sharif has directed the Ministry of Commerce and pertinent agencies to put into action workable steps to reach the lofty ambition of increasing Pakistan’s yearly exports to $60 billion in three years.
“Thanks to government policies, our exports exceeded $30 billion last fiscal year, and IT exports surpassed $3.2 billion, which is a positive sign,” the premier said, presiding over the National Export Development Board meeting in Islamabad.
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 periods to Europe and the US, Shehbaz also underlined the significance of adopting high-yielding agricultural product types and eliminating transportation challenges. In order to facilitate the transfer of Chinese export businesses to Pakistan, he also asked the Board of Investment and the Ministry of Commerce to work together.
“To boost exports and establish a unique identity for Pakistani items, focus on research and development, innovation, and brand development,” stated the prime in response to the rise in exports. Any postponement of the FBR’s reimbursements to exporters will not be accepted. Trade representatives at Pakistani embassies across the world ought to assist and counsel Pakistani exporters.”
The Prime Minister demanded that the Ministry of Power present a thorough strategy to lower industrial electricity rates. He emphasized that the private sector is essential to a nation’s growth and need to be included in the creation of policies that deal with its problems.
Export industry members commended Shehbaz for regularly convening to discuss their concerns; they noted his particular interest in the export industry as energizing and valued his initiative in guaranteeing prompt reimbursements from the FBR.
