$60b export target central to economic plan

Minister says Bangladesh, Sri Lanka surpassed Pakistan as SAPM, SMEDA pledge SME support

FAISALABAD:

The government has set a $60 billion export target as essential for strengthening Pakistan's economy, as policymakers push for reducing reliance on remittances and expanding the manufacturing base, according to statements made at Expo Faisalabad 2026.

Federal Minister for National Food Security Rana Tanveer Hussain, speaking as chief guest at the three-day exhibition, said countries like Bangladesh and Sri Lanka have significantly increased their exports, and without a substantial rise, Pakistan cannot achieve sustainable economic growth. He noted that overseas Pakistanis remit approximately $41 to $42 billion annually, but relying solely on remittances is not a sustainable economic model.

"Whenever Pakistan faces economic challenges, it looks outward and turns to the International Monetary Fund. If we strengthen ourselves, such situations will not arise," Hussain said.

The minister said Faisalabad, the country's business hub, contributes $17 billion from the textile sector alone. The government has introduced systems to facilitate ease of doing business and established the Special Investment Facilitation Council (SIFC) to attract investment.

Both federal and provincial governments have launched programmes to develop a skilled workforce, which would help reduce production costs and make Pakistani products more competitive in global markets, he added.

Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan reaffirmed the government's commitment to creating a robust ecosystem for Micro, Small and Medium Enterprises (MSMEs). He said the sector remains central to the prime minister's vision for sustainable economic growth, industrial development and export promotion.

"We cannot move forward unless our exports increase," Khan said.

SMEDA CEO Nadia Jahangir Seth said the Authority remains committed to supporting entrepreneurs through strategic partnerships and market-driven interventions. SMEDA has established a helpdesk to brief entrepreneurs on government support programmes and facilitate free registration of informal enterprises through the SME Registration Portal.