There’s need to increase exports by boosting seaports, shipping services: minister

ISLAMABAD: Minister for Planning, Development and Special Initiatives Ahsan Iqbal said that there is a need to increase exports to ensure sustainable economic growth by enhancing the country’s seaports and shipping services.

He said this while chairing a meeting of the prime minister’s committee on logistic issues faced by seaports in Karachi.

The meeting was attended by key stakeholders, including the secretary of Maritime Affairs, the secretary of Railways and members of the Planning Commission.

The minister directed the Ministry of Maritime Affairs to prepare an action plan to improve the efficiency of seaports and expedite clearance services.

He said that a sustained growth with an average rate of eight percent is required to strengthen economy. He emphasised that increasing Foreign Direct Investment (FDI) and enhancing productivity in every sector should be the priority.

About the importance of logistic services for increased exports, the minister said that the government is taking measures to make the seaports more efficient and competitive, with fast container delivery services in collaboration with the private sector.

He emphasised the need for Pakistani goods to be transported via Pakistani ships, making exports the centerpiece of the economy.

The minister said that all countries that achieved export-led growth ensured a smooth supply chain with efficient, competitive and rapid clearance services at their seaports.

He said that the importance of seizing the current opportunity, bolstered by a three-year “insurance policy” from the recent International Monetary Fund (IMF) programme.

Copyright Business Recorder, 2024