Govt committed to double exports in five years: PM Shehbaz

KARACHI: Prime Minister Shehbaz Sharif expressed confidence on Wednesday that Pakistan’s export volume would double within the next five years, with strong support from the business community.

PM Shehbaz emphasized the government’s commitment to collaborate closely with businesses to formulate a comprehensive policy framework aimed at boosting exports and ensuring export-led economic growth. He highlighted the crucial role of exports in resolving Pakistan’s foreign exchange reserve challenges.

Addressing the business community at a ceremony, PM Shehbaz invited industry leaders to engage with the government in resolving issues hindering development and prosperity. He stressed the importance of collective effort to overcome challenges and restore Pakistan’s economic strength.

The prime minister reaffirmed the government’s focus on revolutionizing agriculture, mining, minerals, information technology, and industry sectors to create employment opportunities and alleviate poverty and inflation.

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Regarding the sugar situation, PM Shehbaz mentioned the government’s intention to explore sugar exports if there is surplus stock, alongside efforts to combat sugar smuggling.

PM Shehbaz also highlighted positive macroeconomic indicators under interim and current governments, including a surplus in the current account, increased remittances, lower inflation, and robust progress in the stock exchange.

Assuring transparent privatization processes, PM Shehbaz emphasized the private sector’s pivotal role in driving economic growth. He urged businesses to adopt modern technologies and quality marketing practices.

The prime minister acknowledged challenges in tax litigation, pledging government efforts to expedite resolutions and unlock trapped tax funds.