PM Shehbaz Sets Ambitious Target of $60 Billion in Exports Per Year

Prime Minister Shehbaz Sharif on Tuesday set a bold target to boost Pakistan’s exports to $60 billion per year within the next three years. Chairing a meeting of the National Export Development Board in Islamabad today, the Prime Minister emphasized the need for the Ministry of Commerce and related institutions to implement practical steps to achieve this goal. Shehbaz said domestic exports had surpassed the $30 billion mark with massive progress witnessed in the information technology sector, which saw exports exceed $3.2 billion. The meeting was given a briefing on the government’s initiatives for export development and a presentation of a plan to double Pakistan’s exports over the next five years. The Prime Minister directed that all identified issues be resolved promptly and summoned a progress report in the next two weeks. He committed to chairing the National Development and Exports Board meetings every one and a half months to ensure ongoing progress. Shehbaz also thanked the business community and investors who contributed to the increase in exports despite difficult conditions. He urged the Ministry of Commerce to finalize policy proposals in collaboration with sector representatives to further enhance export potential. For agricultural exports, the Ministry of National Food Security was tasked with improving extension services in cooperation with provincial authorities. Emphasis was placed on ensuring the export of quality seeds and processed agricultural commodities and accelerating the introduction of high-yielding crop varieties. Sharif stressed the importance of reducing shipping times to Europe and America by addressing logistical challenges. He also directed the Board of Investment to facilitate the transfer of Chinese export industries to Pakistan. Meanwhile, he demanded timely refunds of export taxes by the Federal Board of Revenue (FBR) and called for trade officers in Pakistani embassies to actively promote exports and assist exporters.