Minister vows to propel exports to $80b

Will work to swiftly steer state enterprises towards profitability

ISLAMABAD:

Caretaker Federal Minister of Commerce Dr Gohar Ejaz has vowed to breathe new life into commercial and industrial sectors as well as propel Pakistan’s exports to the ambitious target of $80 billion.

At a briefing, Ejaz, who assumed charge as the caretaker commerce minister, expressed the resolve to tackle complexities head-on in order to address the challenges looming in the commercial sector.

He stressed that he would work to swiftly steer state enterprises towards profitability in the pursuit of economic prosperity.

In a bid to foster innovation and industry’s growth, he revealed plans to launch flagship projects within the Special Economic Zones with a specific focus on the garments sector.

These initiatives are poised to stimulate economic activity, create employment opportunities, and further solidify the country’s position on the global economic stage.

The caretaker minister, however, voiced concerns over subsidies granted to state-owned enterprises. He emphasised his commitment to gradually phasing out the subsidies, a move that aligned with the goal of streamlining operations, enhancing efficiency, and ensuring sustainable economic progress.

Ejaz, a renowned industrialist, was briefed about the crucial functions and responsibilities entrusted to the Commerce Division.

The minister’s appointment was welcomed by the business community while recognising his extensive experience and dedication to the betterment of the nation.

Separately, talking to PTV News, the caretaker commerce minister said that the government would work hard to increase Pakistan’s exports to more than $100 billion for sustainable economic growth and development.

Published in The Express Tribune, August 19^th, 2023.

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