Sindh CM backs $100b export target

Sindh Chief Minister Syed Murad Ali Shah on Thursday threw his weight behind the business community's ambitious vision of taking Pakistan's exports from around $30 billion to $100 billion, declaring that the target was "absolutely achievable" provided the country harnessed Sindh's enormous indigenous energy potential and implemented policies aimed at reducing the cost of doing business and making Pakistani products globally competitive.

Speaking as chief guest at the 79th Independence Day flag-hoisting ceremony, organised by the Karachi Chamber of Commerce & Industry (KCCI), the chief minister said Pakistan had demonstrated its strength on the defence and diplomatic fronts and "the next battle we have to win is on the economic front." He called for unity between the government and business community to achieve sustainable economic growth and strengthen Pakistan's position in global markets.

Murad Ali Shah specifically endorsed the businessmen's proposal to increase exports to $100 billion, noting that Pakistan had the potential to achieve the target. He pointed out that overseas Pakistanis were already sending around $40 billion in remittances, while the country's export sector had the capacity to substantially increase its contribution if competitive policies and a conducive business environment were provided.

The chief minister said Sindh could become Pakistan's energy basket, having vast reserves of Thar coal as well as significant potential in solar, wind and indigenous gas. He maintained that inexpensive electricity generated from indigenous resources could help reduce production costs, enhance industrial competitiveness and enable Pakistani exporters to compete more effectively in international markets.

He particularly stressed the importance of fully utilising Thar coal to reduce energy costs, saying that Pakistan could not afford to undermine a resource capable of providing relatively inexpensive energy. He also called for greater exploration and utilisation of Sindh's gas resources instead of excessive reliance on imported gas.

Murad Ali Shah urged the Karachi Chamber and the wider business community to strengthen their collective voice before the federal government for policies that would lower the cost of doing business and energy costs, describing these as essential prerequisites for boosting exports, investment and industrial activity.

The chief minister appreciated KCCI's continued cooperation with the Sindh government in dealing with crises affecting the business community, particularly the Gul Plaza tragedy and earlier incidents at Timber Market and Bolton Market, where traders suffered enormous financial losses and families endured personal tragedies.

He assured the chamber that the Sindh government would also examine the concerns of Nasla Tower affectees, acknowledging that they had suffered serious hardships.