PM Shehbaz orders expansion of export sectors to boost Pakistan's global trade
“Prime Minister Shehbaz Sharif on Tuesday directed the government to make export growth the foundation of the country’s economic development and expand the number of sectors targeting international mar…”
Chairing a meeting to review measures to boost exports and accelerate economic growth, the prime minister stressed the need to involve more industries in export activities to diversify the country’s trade base. He directed authorities to bring the quality of Pakistani products in line with international standards, strengthen quality assurance systems and ensure compliance with global regulations.
The prime minister also emphasised value addition to increase the worth and competitiveness of Pakistani products in international markets. He called for the promotion of modern technology, research and innovation in export-oriented industries and directed authorities to leverage digitalisation to align the national economy with contemporary requirements.
Read:Relentless fuel shocks revive govt austerity talkPM Shehbaz also ordered the removal of administrative and business hurdles faced by exporters and called for the export process to be made easier, faster and more transparent. The meeting was briefed on progress in implementing the strategic roadmap approved for export promotion.
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Participants reviewed proposals for accessing new international markets, diversifying export sectors, improving product quality and facilitating businesses. The meeting also discussed measures to enhance the global competitiveness of export-oriented industries. Officials said steps were being taken to conclude free trade agreements and preferential trade arrangements with several friendly countries to improve market access for Pakistani products.
The meeting was informed that efforts were underway to include horticultural products in the country’s export basket. Measures were also being taken to encourage Pakistani exporters to participate in tenders and procurement processes of international hospitals to increase exports of surgical and medical equipment.
Read More:PSX rebounds 1,907 points as investors return to equities. Officials said exhibitions, including the textile and leather exhibition (TEXPO), the Health Engineering and Minerals Show, and Food and Agriculture (Food. Ag) exhibitions, along with other sector-specific events, were being organised in different cities to showcase Pakistani products to international companies.
The meeting was further informed that work was underway to align intellectual property laws with contemporary requirements to promote innovation and exports. Officials said the restructuring of the Export Development Fund (EDF) had been completed and the fund was taking measures to facilitate the business community.
Deputy Prime Minister and Foreign Minister Ishaq Dar, Federal Ministers Rana Tanveer Hussain, Jam Kamal Khan, Musadik Masood Malik, Ahad Khan Cheema and Muhammad Aurangzeb, Prime Minister’s Adviser Haroon Akhtar, Minister of State for Finance Bilal Azhar Kayani and senior officials of relevant institutions attended the meeting.
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