Prime Minister Shahbaz Sharif Orders Strategic Plan to Boost Pakistan’s Exports to $60 Billion in Five Years
Prime Minister Shahbaz Sharif has directed the formulation of a comprehensive and effective strategy to increase Pakistan’s exports to $60 billion over the next five years. During a high-level meeting on export growth, the Prime Minister emphasized the importance of economic development and enhancing exports by introducing sustainable reforms in the tariff system.
He instructed the economic team to reduce tariff rates and make the system more transparent and user-friendly. The focus of the reforms will be to increase industrial productivity by simplifying the tariff structure.
The Prime Minister also called for special attention to be given to the services, IT, and agriculture sectors to further boost exports, as these areas are key components of the ‘Udaan Pakistan’ vision for export-driven economic growth. He also stressed the need for reforms in the governance of the Export Development Fund to support the development of export industries.
During the meeting, the Ministry of Commerce briefed the Prime Minister on the progress of reforms and steps to achieve the export target of $60 billion by 2025. The briefing highlighted that tariff rates have been gradually reduced over the last two years, and the Ministry of Commerce regularly hosts international trade exhibitions to promote exports. Ongoing consultations are taking place for the 2025 Strategic Trade Policy Framework, and the e-commerce policy is in its final stages, ready for cabinet approval next month.
Additionally, a National Compliance Center has been set up to align Pakistani products with international standards. The center will help enhance the capabilities of Pakistan’s export industries through training programs.
The meeting was attended by Federal Minister for Commerce, Jam Kamal Khan, Minister for Economic Affairs, Ahd Khan Cheema, Minister for Finance, Muhammad Aurangzeb, Chairman of the Federal Board of Revenue (FBR), Rashid Mehmood Langrial, and senior officials from relevant institutions.
