PM sets ambitious $60 billion export target for Pakistan over next five years

• Premier Shehbaz targets $60bn exports in five years.
• Govt to reform tariff structure for industrial expansion.
• E-commerce policy framework to be finalised soon.
  

ISLAMABAD: Prime Minister Shehbaz Sharif has instructed the development of a comprehensive strategy to boost Pakistan’s exports, setting a target of $60 billion over the next five years, The News reported.

Chairing a meeting on Thursday, he emphasised the need to prioritise key sectors, including services, information technology, and agriculture, to drive export growth.

The premier highlighted the importance of increasing industrial production by reforming the tariff structure and simplifying the system. He directed his economic team to implement sustainable tariff reforms to accelerate economic progress and strengthen exports.

During the meeting, he was briefed about the steps taken to reform the Ministry of Commerce and increase the export target to $60 billion in the next five years. It was informed that the tariff was gradually decreased in the last two years.

The Ministry of Commerce was hosting international-level exhibitions every year in Pakistan to expand exports. Consultations were also continuing with all stakeholders on the Strategic Trade Policy Framework 2025-30. The consultation on the E-commerce policy was in the final stage of completion and would be presented for the approval of the cabinet next month.

The premier also chaired a meeting to review reforms in the health and pharmaceutical sectors. He directed that a drug testing laboratory of good standard should be established in Islamabad to ensure the quality of medicines according to the international level. 

He also instructed the launching of mobile hospitals to provide health facilities in the outskirts of Islamabad, Gilgit-Baltistan, Kashmir and Balochistan. He ordered an operation in collaboration and consultation with the provincial governments against counterfeit drugs.

He said research in the medical field should be undertaken to increase exports of the pharmaceutical sector. The meeting was further told that the present export volume of medicines was $500 million and the Ministry of Health was taking steps to enhance exports by carrying reforms including the provision of research facilities. 

The prime minister also held separate meetings with Members of the National Assembly Muhammad Idrees, Ehsanul Haque Bajwa and leaders of Pakistan Muslim League (N) Mohsin Shahnawaz Ranjha and Shah Muhammad Shah.

Meanwhile, he is likely to approve a Rs20.5 billion Ramazan Relief Package proposed package today (Friday). In case of a green light, the prime minister will announce the package.