ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday directed his economic team to devise an effective strategy to enhance Pakistan’s exports to $60 billion in five years, a statement from his office said as Islamabad looks for ways to tackle its macroeconomic crisis.
Pakistan’s government in December 2024 launched a five-year national plan to escape a prolonged economic crisis that has drained the country of its financial resources and brought it to the brink of a sovereign default in 2023.
The five-year National Economic Plan seeks to ensure sustainable development that hinges mainly on export-oriented growth.
Sharif chaired a meeting of his economic team in Pakistan’s capital on Thursday to review measures to increase the country’s exports, a statement from the Prime Minister’s Office (PMO) said.
“The prime minister gave directives to formulate a comprehensive and effective strategy to take the country’s exports to $60 billion in the next five years,” his office said.
It said Sharif called for sustainable reforms in Pakistan’s tariff system to ensure its exports become competitive in the international market.
He called on the government to pay special attention to the services, IT and agriculture sectors to increase exports.
Sharif was briefed by his team about the ongoing reforms within Pakistan’s commerce ministry and the strategies in place to enhance exports to 60 billion dollars in the next five years, his office said.
Sharif was also told that the commerce ministry hosts international exhibitions in Pakistan annually to promote exports.