Pak PM Shehbaz Sharif sets ambitious goal to increase exports to USD 60 billion within 3 years

Islamabad, Jul 23 (PTI) Pakistan Prime Minister Shehbaz Sharif on Tuesday set an ambitious goal to increase the cash-strapped country’s exports to USD 60 billion within three years.

The Pakistan Muslim League-Nawaz (PML-N) leader was chairing the National Export Development Board meeting in Islamabad, where he directed the Ministry of Commerce and relevant agencies to implement practical measures to achieve this target.

According to state-run Radio Pakistan, Sharif “directed the Ministry of Commerce and other relevant departments to take practical steps to achieve the export target of sixty billion dollars in the next three years”.

He said the country’s exports exceeded USD 30 billion last fiscal year, and IT exports surpassed USD 3.2 billion, terming it a positive sign.

He also instructed that the issues highlighted by exporters should be resolved within the next two weeks, with a report to be submitted.

“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,” he said.

The prime minister also instructed the Ministry of Commerce to finalise 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.

Sharif emphasised the importance of introducing high-yielding varieties of agricultural products and resolving shipping issues to reduce delivery times to Europe and the US.

“To boost exports and create a unique identity for Pakistani products, focus on research and development, innovation, and brand development,” he said.

The premier said that any delay in exporters’ refunds by the Federal Bureau of Revenue will not be tolerated while trade officers in Pakistani embassies worldwide should facilitate exports and guide Pakistani exporters.

The prime minister asked for a comprehensive plan from the Ministry of Power to reduce electricity costs for industries, highlighting that the private sector plays a crucial role in a country’s development and should be included in policy formation to address their issues.