Karachi, July 23, 2024 – Prime Minister Shehbaz Sharif chaired a pivotal meeting of the National Export Development Board on Tuesday, tasking authorities with a bold directive: elevate the country’s annual exports to $60 billion within the next three years.
During the meeting, the prime minister urged the commerce ministry and other relevant departments to employ all necessary measures to meet this ambitious target. Highlighting past successes, he noted that the country’s exports had surpassed $30 billion in the previous fiscal year, while IT exports had exceeded $3.2 billion due to government policies.
The prime minister emphasized the importance of addressing exporters’ concerns promptly, requesting a detailed report within two weeks. He committed to personally chairing the National Export Development Board meeting every six weeks to ensure consistent progress and accountability.
Expressing gratitude towards the business community and investors, Prime Minister Shehbaz acknowledged their contributions to increasing exports despite challenging conditions. He called for collective efforts towards the country’s development, urging the commerce ministry to finalize policy proposals in collaboration with representatives from potential export sectors.
Additionally, the prime minister tasked the Ministry of National Food Security with enhancing extension services in coordination with provincial authorities to boost agricultural exports. He emphasized the need for exporting quality seeds and processed agricultural products, and for introducing high-yield crop varieties.
Prime Minister Shehbaz also stressed the importance of reducing delivery times for Pakistani goods to Europe and America by resolving shipping-related issues. He directed the commerce ministry and Board of Investment to facilitate the transfer of Chinese export industries to Pakistan, aiming to bolster the country’s industrial capabilities.
In his directives, the prime minister highlighted the necessity for research and development, innovation, and brand development to increase the export of Pakistani goods. He warned the Federal Board of Revenue against any delays in processing refunds for exporters and urged trade officers in Pakistan’s missions abroad to actively promote the country’s exports.
Furthermore, he called on the power ministry to devise a comprehensive plan to provide low-cost electricity to industries, highlighting the crucial role of the private sector in national development and advocating for its inclusion in policymaking processes.
Representatives of the export sector expressed appreciation for the prime minister’s proactive approach and frequent meetings to address their issues. They lauded his commitment to ensuring timely refunds by the FBR, describing his interest in the export sector as “very encouraging.”
The meeting also included a briefing on recent steps taken to uplift the export sector. Officials reported that the country’s exports had indeed crossed the $30 billion mark this year, and a five-year plan aimed at doubling exports was presented.
Among the attendees were Deputy Prime Minister and Foreign Minister Ishaq Dar, federal ministers, state ministers, the State Bank Governor, relevant FBR officers, and representatives from various sectors including textiles, IT, leather, and agriculture.
This concerted effort underscores the government’s dedication to enhancing Pakistan’s export performance, aiming for sustained economic growth and a stronger global trade presence.