$60bn export target: PM directs authorities to chalk out strategy

ISLAMABAD: In a bid to boost export-driven growth in the country, Prime Minister Shehbaz Sharif on Thursday directed the authorities to chalk out a comprehensive and effective strategy to achieve the target of $60 billion in exports over the next five years.

The prime minister, while chairing a high-level meeting to review measures aimed at increasing Pakistan’s exports, directed the economic team to introduce sustainable tariff reforms to enhance economic growth, facilitate industrial growth, and boost exports. He underscored the importance of prioritising key sectors such as services, information technology, and agriculture to drive export growth.

He reiterated that export-led economic progress is a crucial pillar of the Uraan Pakistan – the government’s 5Es-based five-year national economic transformation plan (2024-29) – vision.

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To support the development of export industries, Sharif directed the implementation of necessary reforms in the governance system of the Export Development Fund – a skills training programme to help boost exports in the textile sector, particularly, in readymade garments and knitwear.

The prime minister was briefed about the ongoing reforms within the Commerce Ministry and the strategies in place to achieve the $60 billion export target over the next five years.

He was informed that gradual reductions in tariffs have been implemented over the past two years. Additionally, the Ministry of Commerce hosts international-level exhibitions in Pakistan annually to promote exports.

The briefing highlighted that consultations with stakeholders on Strategic Trade Policy Framework 2025-30 are underway.

It was told that the e-commerce policy is in its final consultation phase and will be presented before the Cabinet for approval next month.

Besides, the National Compliance Center (NCC) has been established to align Pakistani products with international standards.

The centre will develop programmes for training and to enhance the capabilities of Pakistan’s export industries.

Copyright Business Recorder, 2025