PM Shehbaz unveils plan to double exports to $60 billion

Shehbaz calls for resolving exporters' issues within two weeks to boost trade

Prime Minister Shehbaz Sharif has set an ambitious goal to boost Pakistan's annual exports to $60 billion within three years, directing the Ministry of Commerce and relevant agencies to implement practical measures to achieve this target.

Chairing the National Export Development Board meeting in Islamabad, the premier stated, "Alhamdulillah, our exports exceeded $30 billion last fiscal year, and IT exports surpassed $3.2 billion, which is a positive sign thanks to government policies."

During the meeting, Shehbaz instructed that the issues highlighted by exporters should be resolved within the next two weeks, with a report to be submitted, emphasizing, "I will personally chair the National Export Development Board meetings every month and a half. We must all work hard for Pakistan's progress. Despite challenging circumstances, I salute the business personalities and investors who have played their part in increasing Pakistan's exports."

Further directives from the Prime Minister included instructions to the Ministry of Commerce to finalize policy proposals in collaboration with representatives from export-capable sectors. He also tasked the Ministry of National Food Security to work with provinces to improve extension services, ensuring high-quality seeds and further processing of agricultural products for export.

Shehbaz further emphasized the importance of introducing high-yielding varieties of agricultural products and resolving shipping issues to reduce delivery times to Europe and the US. He also urged the Ministry of Commerce and the Board of Investment to ensure cooperation for the relocation of Chinese export industries to Pakistan.

Addressing the increase in exports, the premier said, "To boost exports and create a unique identity for Pakistani products, focus on research and development, innovation, and brand development. Any delay in exporters' refunds by the FBR will not be tolerated. Trade officers in Pakistani embassies worldwide should facilitate exports and guide Pakistani exporters."

The PM called for a comprehensive plan from the Ministry of Power to reduce electricity costs for industries. He highlighted that the private sector plays a crucial role in a country's development and should be included in policy formation to address their issues.

Export industry representatives praised Shehbaz for consistently meeting to address their issues, acknowledging his special interest in the export sector as encouraging and appreciated his initiative to ensure timely refunds from the FBR.

The meeting was attended by Deputy Prime Minister and Finance Minister Ishaq Dar, Federal Ministers Jam Kamal Khan, Ahsan Iqbal, Rana Tanveer Hussain, Muhammad Aurangzeb, Sardar Owais Khan Leghari, Dr. Musadik Malik, Ministers of State Ali Pervaiz Malik, Shaza Fatima Khawaja, Deputy Chairman Planning Commission Jahanzeb Khan, Governor State Bank, Prime Minister's Coordinator Rana Ehsan Afzal, Chairman FBR, relevant officials, and a large number of exporters from various sectors, including textiles, IT, leather, and agriculture.