Pakistan aims for $60 billion exports, $1 trillion economy by 2035

ISLAMABAD: Prime Minister Shehbaz Sharif has reaffirmed Pakistan’s goal to increase its exports to $60 billion by 2029, marking this target during a special meeting of the Federal Cabinet in Islamabad. This milestone coincides with the completion of the government’s first year in power.

During the meeting, the Prime Minister outlined his vision for a more stable and prosperous Pakistan, emphasizing that the economy is moving towards recovery thanks to collaborative efforts between the government and its coalition partners.

He highlighted “Vision 2035,” an initiative aimed at transforming Pakistan into a trillion-dollar economy by the year 2035.

A key area of focus was Pakistan’s foreign exchange reserves, which have surged from $4 billion to around $13 billion in the past year. Inflation has also seen a drastic decline, dropping from a staggering 28 per cent to just 1.6 per cent, while the policy interest rate has been reduced to 12 per cent from 22.5 per cent. In addition, exports, particularly in the IT sector, have been gaining momentum, further boosting the country’s economic outlook.

Prime Minister Sharif stressed the importance of adopting e-governance as a means of promoting transparency, noting that digitizing the Federal Board of Revenue (FBR) is already in progress. This digital transformation, he said, will enhance efficiency and reduce corruption, bringing about more trust in government operations.

On the international front, Pakistan’s first astronaut is set to embark on a space mission, thanks to a collaborative effort between Pakistan and China. This historic event represents a major leap forward for Pakistan in the realm of science and technology.

The Prime Minister also underlined the government’s commitment to attracting foreign investors, assuring business-friendly policies to encourage industrial growth. He reaffirmed that Pakistan’s doors are open to global industrialists and investors looking to capitalize on the country’s evolving economic landscape.

In a strong message to critics, Sharif remarked that the opposition has failed to uncover any corruption or scandals involving the current administration.

He believes this demonstrates the government’s transparency and dedication to good governance. He also took the opportunity to commend the national institutions for their contributions to the country’s stability and development.

Additionally, Prime Minister Sharif expressed his deep appreciation for the sacrifices made by Pakistan’s armed forces and law enforcement agencies in the fight against terrorism, underscoring their pivotal role in maintaining national security.

With a clearer roadmap and concrete strategies, the government remains focused on fostering economic growth and securing a better future for Pakistan.

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