Prime Minister Shehbaz Sharif directed on Thursday to develop a comprehensive and effective strategy to increase the country’s exports to $60billion in the next 5 years.
According to details, he chaired a meeting aimed at boosting national exports and enhancing economic development. The prime minister instructed his economic team to introduce sustainable reforms in the tariff system.
He emphasised that tariff rates should be reduced and the system should be simplified to promote ease of doing business.
A key aspect of the plan is to focus on improving the industrial sector’s productivity by implementing strategic reforms in the tariff structure.
PM Shehbaz also directed special attention to the services, IT, and agriculture sectors to increase exports.
In his address, the prime minister stated that export-based economic growth is a significant component of the “Udaan Pakistan” vision.
He further emphasised the need for necessary reforms in the Export Development Fund (EDF) governance system to support the development of export industries.
During the meeting, a briefing was given on the measures being taken to achieve the target of 60 billion dollars in exports over the next five years. It was reported that tariff rates had been gradually reduced over the past two years, contributing to the positive trend.
The ministry of commerce hosted international exhibitions every year to promote exports, and consultations on the 2025-30 Strategic Trade Policy Framework are ongoing with all stakeholders.
Furthermore, the prime minister was briefed about the completion of the National Compliance Centre, which aims to align Pakistani products with international standards. This Centre will play a vital role in increasing the capacity of Pakistan’s export industries by offering training and development programmes.
The meeting was attended by Federal Minister for Commerce, Mr. Jam Kamal Khan, Minister for Economic Affairs, Mr. Ahad Khan Cheema, Minister of Finance, Mr Mohammad Aurangzeb, Chairman FBR, Mr Rashid Mahmood Langrial, and senior officials from relevant institutions.
