ISLAMABAD: Prime Minister Shehbaz Sharif has instructed the Ministry of Power to develop a comprehensive plan to reduce electricity costs for industries, aiming to boost the country’s exports.
During a meeting of the National Export Development Board (NEDB) on Tuesday, the Prime Minister noted that domestic exports exceeded USD 30 billion last fiscal year, with IT exports surpassing USD 3.2 billion. He emphasized the need to address exporters’ issues promptly and requested a report within two weeks. He also announced his intention to chair NEDB meetings every one and a half months.
The meeting was attended by exporters from various sectors including textiles, information technology, leather, and agriculture. Government measures for export industry development were reviewed, and a plan to double exports within five years was presented.
Prime Minister Sharif directed the Ministry of Commerce to finalize policy proposals in collaboration with sector representatives. He also tasked the Ministry of National Food Security to work with provinces to enhance extension services and increase agricultural exports. Ensuring quality seeds and further processing of agricultural commodities were highlighted as priorities.
The Prime Minister stressed the importance of reducing delivery times for Pakistani goods to Europe and America by resolving shipping issues. He urged the Ministry of Commerce and the Board of Investment to facilitate the transfer of Chinese export industries to Pakistan.
To boost exports, the Prime Minister emphasized the need for research and development, innovation, and brand development. He instructed the Federal Board of Revenue (FBR) to expedite refund clearances for exporters and urged trade officers in Pakistani embassies to support and guide exporters in their respective countries.
Prime Minister Sharif set a target to increase the country’s exports to USD 60 billion annually and directed the Ministry of Commerce and related institutions to take practical steps to achieve this within the next three years. He emphasized the importance of including the private sector in policy formulation to address their challenges effectively.
Exporters welcomed the Prime Minister’s initiative for timely refunds by the FBR, expressing their appreciation for the government’s support.
Story by Zaheer Abbasi
