PM says there’s need to check wide import-export gap

ISLAMABAD: Prime Minister Imran Khan has directed the Commerce Division to submit the Strategic Export Framework for approval in two weeks as there is an urgent need of taking immediate measures to lessen the gap between imports and exports.

The prime minister directed this while chairing a meeting to review various steps taken by the government to increase the country’s exports.

The meeting was informed that a total increase of $30 billion is possible in the current volume of exports and this could be achieved by focusing on 19 products, including IT, textiles, medicine, poultry, rice, vegetables, fruits, leather, salt, marble, and surgical instruments to increase the country’s exports.

The meeting was informed by the Commerce Division that consultations with stakeholders, including industrialists, exporters, and concerned government agencies is underway.

The prime minister stressed that as all economic indicators are moving in a positive direction; however, there is a need for urgent steps to reduce the gap between imports and exports.

He further stated that the government is creating facilities for exporters, and directed that targets should be set for Pakistan’s trade and investment officers stationed abroad in terms of increasing exports.

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He said that the diversification of markets and products is a priority of the government to increase Pakistan’s exports. The prime minister added that providing a conducive environment and business-friendly policies to the business community is a government priority.

He said that the government has been pursuing a policy of formulating policies in consultation with the business community and a strong partnership between the government and the industry would be continued.

The prime minister further stated that the government has been following the policy of providing all possible facilities to the business community, the expects the business community to take full advantage of these opportunities and fully support the government in stabilising the country’s economy.

The meeting was attended by National Security Advisor Dr Moeed Yousaf, Special Assistant Dr Shahbaz Gill, secretaries of Commerce Division and Energy Division as well as other senior officials.

Copyright Business Recorder, 2021