LAHORE: President Lahore Chamber of Commerce and Industry (LCCI) Faheem-ur-Rehman Saigol stressed the need to increase Pakistan’s exports and promote import substitution simultaneously to reduce the trade deficit and strengthen the national economy.
Speaking at a seminar on ‘Export Opportunities for Pakistan’ held at the LCCI, he said Pakistan possesses immense potential, a resilient workforce and abundant opportunities for industrial and economic growth. Sustainable economic progress requires collective efforts, policy continuity, enhanced productivity, support for core sectors and a strong focus on export-led growth.
He also highlighted the importance of learning from successful regional economies, encouraging local manufacturing and utilizing Pakistan’s capabilities to their fullest potential.
The LCCI president said Pakistan’s business community must continue playing its role in overcoming economic challenges and contributing to national development. He said while foreign remittances have provided significant support to the economy and crossed the USD40 billion marks, long-term economic stability can only be achieved through higher exports and reduced reliance on imports.
Director Sales Sapphire Textile Mills Awais Kamal said that Pakistan’s textile sector, which contributes around 60 percent of the country’s exports, must focus on product innovation, design development and alignment with international market requirements. He underlined the importance of strengthening supply chains, improving access to quality raw materials, adopting modern technologies and enhancing manufacturing capabilities.
Vice Chairman P@SHA Raheel Iqbal highlighted the rapid growth of Pakistan’s IT sector and said that the country’s IT exports have reached approximately USD3.8 billion, while recent performance indicates the potential for even higher growth. He observed that Pakistan’s IT exports are increasing at an annual rate of around 20 percent and could reach USD10 to USD15 billion within the next five to 10 years if supportive policies remain in place.
Amata Gondal, CFO Reem Rice Mills, discussed the opportunities and challenges facing Pakistan’s rice export sector. She underscored the significance of rice as an essential export commodity and stressed the need for improving competitiveness, value addition and market diversification to enhance Pakistan’s share in international markets. She stated the importance of sharing industry knowledge and working collectively to strengthen the country’s export performance.
Copyright Business Recorder, 2026
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