Pakistan establishes striving USD60b shipment target for upcoming 3yrs
Date
7/24/2024 8:25:54 AM
(MENAFN) Pakistan has set an ambitious target to elevate its annual exports toUSD60 billion within the next three years, as announced by Prime Minister Shehbaz Sharif during a recent directive to the National Export Development Board. The initiative comes as part of Pakistan's strategy to significantly enhance its economic growth through expanded trade activities.
In the previous fiscal year, Pakistan's total exports surpassedUSD30 billion, with a notable contribution from the IT sector, which alone accounted for overUSD3.2 billion in exports. Prime Minister Shehbaz emphasized the need for proactive measures to address exporters' concerns, instructing the concerned ministries to submit a detailed report within a fortnight.
To ensure focused leadership and oversight, Prime Minister Shehbaz also declared his intention to personally chair meetings of the National Export Development Board every six weeks. This move underscores the government's commitment to streamline policies and strategies aimed at bolstering key export sectors.
Furthermore, the Prime Minister directed the Ministry of Commerce to collaborate closely with representatives from pivotal export industries to finalize comprehensive policy proposals. In parallel, the Ministry of National Food Security has been tasked with enhancing agricultural extension services in coordination with provincial authorities to boost agricultural exports.
Pakistan's ambitious export target underpins its broader economic agenda to foster sustainable growth and reduce dependency on imports. As the country navigates global economic dynamics, these strategic initiatives are poised to play a pivotal role in driving Pakistan's export competitiveness across various sectors.
Prime Minister Shehbaz Sharif's proactive approach signals a renewed commitment to strengthening Pakistan's position in the global market, leveraging its diverse economic strengths to achieve robust export growth in the coming years. The government's focus on enhancing trade infrastructure, addressing industry challenges, and promoting sector-specific policies underscores its determination to capitalize on Pakistan's export potential and propel economic prosperity nationwide.
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