PM sets $60bn target for country’s annual exports in three years

ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday chaired a meeting of the National Export Development Board wherein he tasked the authorities concerned to take the country’s annual exports to $60 billion within three years.

The prime minister asked the commerce ministry and other relevant departments to take all necessary measures to achieve the given target.

He said the country’s exports crossed the $30 billion mark during the previous fiscal year, and the government’s policies also took the IT exports to over $3.2 billion, the official news agency reported.

The prime minister asked the ministry to resolve the issues pointed out by the exporters and present a report within two weeks. He said that he would personally chair the National Export Development Board meeting every one-and-half months.

Calling for collective efforts for the country’s development, he paid tribute to the business community and investors for their role in increasing exports despite tough circumstances.

Prime Minister Shehbaz asked the commerce ministry to finalise the policy proposals, in coordination with representatives of the potential export sectors. He also tasked the Ministry of National Food Security to improve extension services, in coordination with provinces, to enhance agricultural exports.

He instructed for exporting of quality seeds and agricultural products after further processing and taking measures to introduce crop varieties with high yields.

He said that the delivery time of Pakistani goods to Europe and America should be reduced by solving the problems related to the shipping of exports immediately. Similarly, the commerce ministry and Board of Investment should ensure cooperation regarding the transfer of Chinese export industries to Pakistan.

He also called for carrying out research and development, innovation and brand development to increase the export of Pakistani goods.

The prime minister warned against any delay by the Federal Board of Revenue in refunds to the exporters, besides emphasising the trade officers in Pakistan’s missions abroad to promote Pakistan’s exports and for guiding the exporters.

The prime minister tasked the power ministry to present a comprehensive plan to provide low-cost electricity to the industries.

Highlighting the crucial role of the private sector for national development, he called for the sector’s inclusion in the policymaking process.

The representatives of the export sector appreciated the prime minister for his frequent meetings to resolve their problems and called his keen interest in the export sector “very encouraging”.

They also appreciated the prime minister’s initiative to ensure timely refunds by the FBR to the export industry.

The meeting was briefed on the steps taken for the uplift of the export sector. It was told that the country’s exports crossed the $30 billion mark this year and a five-year plan to double the exports was also presented in the meeting.

Deputy Prime Minister and Foreign Minister Ishaq Dar, federal ministers Jam Kamal Khan, Ahad Khan Cheema, Qaiser Ahmed Sheikh, Abdul Aleem Khan, Ahsan Iqbal, Rana Tanveer Hussain, Muhammad Aurangzeb, Sardar Awais Leghari and Dr Musaddiq Malik, ministers of state Ali Pervaiz Malik and Shaza Fatima Khwaja, Deputy Chairman of Planning Commission Jahanzaib Khan, State Bank governor, PM’s Coordinator Rana Ehsan Afzal, relevant FBR officers and representatives of textiles, IT, leather, agriculture and other sectors attended the meeting.