PM Shehbaz stresses measures to enhance exports, accelerate economic growth

Islamabad (Web Desk): Prime Minister Shehbaz Sharif has emphasised that enhancing exports should be made the foundation of Pakistan's economic growth, stressing that the country should look beyond its conventional export industries and prepare additional sectors to compete in international markets.

The prime minister made these remarks while chairing a meeting focused on reviewing measures to raise exports and accelerate economic growth.

PM Shehbaz emphasized the importance of involving a broader range of industries in export activities to create greater diversity in the country’s trade portfolio.

He directed the concerned authorities to improve the quality of Pakistani products so they meet international benchmarks.

PM Shehbaz called for stronger quality-control mechanisms and strict adherence to global standards, rules and regulatory requirements.

He also called for greater emphasis on value addition, noting that enhancing the value of exported goods would help Pakistani products become more competitive and valuable in international markets.

The prime minister directed that advanced technology, research and innovation be increasingly incorporated into industries with export potential.

He stressed that Pakistan should make maximum use of digital tools and modern technologies to transform the economy and bring it in line with evolving international requirements.

PM Shehbaz further ordered the removal of administrative and commercial obstacles affecting exporters. He called for the export system to be streamlined so that businesses can complete procedures more quickly, conveniently and transparently.

The meeting was given an update on the progress of the strategic roadmap formulated to expand and promote the country’s exports.

Participants also reviewed a range of proposals aimed at entering new global markets, broadening the number of export sectors, raising product standards and making it easier for businesses to operate.

The forum held an extensive discussion on measures to improve the ability of Pakistani export industries to compete in international markets.

Officials briefed the meeting that negotiations were underway to finalise free trade agreements and preferential trade arrangements with several friendly nations, with the objective of creating additional opportunities for Pakistani products abroad.

The meeting was also informed about initiatives to bring horticultural goods into Pakistan’s export basket.

Officials said efforts were being made to encourage Pakistani exporters to participate in international hospitals’ tenders and procurement programmes, particularly to expand overseas sales of surgical and medical equipment manufactured in Pakistan.

The participants were informed that major exhibitions, including TEXPO, the Health Engineering and Minerals Show, Food and Agriculture (FoodAg) exhibitions and other sector-specific events, were being arranged in different cities across the country.

These events are intended to connect Pakistani producers with international companies and promote local products in global markets.

The meeting was further briefed that work was in progress to update intellectual property laws in accordance with modern requirements, with the aim of creating a stronger environment for innovation and export development.

Officials also informed the meeting that the restructuring of the Export Development Fund (EDF) had been completed. The fund was now taking steps to provide greater assistance and facilitation to the business community.

Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar, Federal Ministers Rana Tanveer Hussain, Jam Kamal Khan, Dr Musadik Masood Malik, Ahad Khan Cheema and Muhammad Aurangzeb, Prime Minister’s Adviser Haroon Akhtar, Minister of State for Finance Bilal Azhar Kayani, as well as senior officials from relevant institutions, attended the meeting.