ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday asked the authorities to take proactive measures to ensure the country’s annual exports reach $60 billion within three years.

Presiding over a National Export Development Board (NEDB) meeting, the prime minister asked the commerce ministry and other relevant departments to take necessary measures to achieve the given target.

He said the country’s exports crossed the $30bn mark during the previous fiscal year, and the government’s policies also took the IT exports to over $3.2bn.

The prime minister asked the ministry to resolve the issues pointed out by the exporters and present a report within two weeks. He said that he would personally chair the National Export Development Board meeting every one-and-half months.

Calling for collective efforts for the development, he paid tribute to the business community and investors for their role in increasing exports despite challenging circumstances.

Mr Shehbaz asked the commerce ministry to finalise the policy proposals in coordination with representatives of the potential export sectors.

He also tasked the Ministry of National Food Security to improve extension services to enhance agricultural exports in coordination with provinces.

He instructed the exporting of quality seeds and agricultural products after further processing and taking measures to introduce crop varieties with high yields.

He said solving logistical problems should reduce the delivery time of Pakistani goods to Europe and America. He also called for research and development, innovation, and brand development to increase the export of Pakistani goods.

The premier warned against any delay by the Federal Board of Revenue (FBR) in refunds to the exporters.

He highlighted the private sector’s crucial role in national development and called for its inclusion in the policymaking process. He also directed the power ministry to present a comprehensive plan to provide low-cost electricity to industries.

The export sector representatives appreciated the prime minister’s frequent meetings to resolve their problems and called his keen interest in the sector “very encouraging.” They also appreciated the prime minister’s initiative to ensure timely FBR refunds to the export industry.

Turkmenistan companies

Later, the prime minister invited Turkmen companies to benefit from Pakistan’s promising investment climate and highlighted the role of the Special Investment Facilitation Council (SIFC) in facilitating foreign investors’ investments in different sectors.

The prime minister underlined the importance of regional cooperation and connectivity, reaffirming Pakistan’s commitment to the early completion of the Turkmenistan-Afghanistan-Pakistan-India Pipeline and to working together on other connectivity projects.

A press release said the prime minister expressed these views during a meeting with Deputy Chairman of the Cabinet of Ministers and Minister for Foreign Affairs of Turkmenistan Rashid Meredov, who called on him at the PM House.

Chinese delegation

In a separate meeting with a delegation of Hengeng Trading Company led by Chairman Zhang Bin, Mr Shehbaz said that during his recent visit to China, signing multiple bilateral business-to-business agreements between companies of the two countries was a good indicator.

Published in Dawn, July 24th, 2024