The Prime Minister of Pakistan Shehbaz Sharif instructed that a comprehensive plan is chalked out to fulfill Pakistan’s target of attaining $60 billion worth of exports within the next five years. In the meeting, the Prime Minister indicated a need for reforms in the tariff structure in a sustainable manner to increase industrial manufacturing capacity. The services, IT and agriculture sectors would be the focal areas with special focus as they account for exports growth.
The government is also looking to reduce tariffs to make the system inclusive, which will help in economic growth and enhance export aspects. Governance reforms of the Export Development Fund are included in the plan to facilitate this growth. The Ministry of Commerce has also been taking measures such as organizing international exhibitions and consulting stakeholders for the Strategic Trade Policy Framework 2025-2030.
In addition, a National Compliance Center will ensure that the products comply with international standards, thus promoting the growth of exports. In addition to all these moves, the government will pursue various reforms in the pharmaceutical sector to enhance exports through better drug quality, curtailing counterfeit medicines and augmenting research.
The efforts undertaken by the government, as a whole reflect a clear commitment to the growth in export for Pakistan with a view to achieving $60 billion in exports by preferably 2030.
