Home Latest News P.M. Sharif Seeks Five-Year Plan to Double Pakistan’s Exports

P.M. Sharif Seeks Five-Year Plan to Double Pakistan’s Exports

Premier also seeks feasibility study for projects that can attract foreign direct investment

by Staff Report

File photo of P.M. Shehbaz Sharif, courtesy PMLN

Prime Minister Shehbaz Sharif on Tuesday sought a comprehensive five-year plan to double the country’s exports, stressing the government should facilitate exporters and leverage the insights of successful entrepreneurs and key stakeholders.

Chairing a meeting pertaining to the exports sector, Sharif emphasized the importance of a collaborative approach, and urged the Ministry of Trade to devise the strategy in consultation with successful entrepreneurs and stakeholders.

According to a statement, he directed authorities concerned to facilitate exporters in the e-commerce sector. Highlighting the critical role of the information technology, domestic goods, textiles, and other key sectors for the export drive, he reiterated stakeholder engagement to ensure their maximum contribution. He also sought recommendations to promote industries that export items that were part of the global value chains.

The meeting, per the statement, was updated on proposals and recommendations for developing the export sector and the prevailing strategy in this regard.

Apart from the prime minister, the meeting was also attended by ministers Jam Kamal and Rana Tanveer Hussain, as well as prominent entrepreneurs Jabran Niaz, Zeeshan Shah, Salman Ahmed, and other relevant officials.

Separately, the prime minister chaired a meeting to review progress on attracting foreign direct investment, noting this was a top priority of the government to transform challenges into opportunities.

The meeting reviewed progress on the memorandums of understanding (MoUs) and agreements inked between Pakistan and various Gulf countries under the umbrella of the Special Investment Facilitation Council (SIFC). The premier, per a statement, said all possible facilities would be given to investors and special cells in federal ministries would be established to promote innovation and research in the investment sector.

He also sought a feasibility study for projects that could attract investors, adding the services of internationally recognized experts should be obtained to achieve this. Emphasizing no compromise on the quality of the projects presented for investment, he also directed all ministries to improve their relations with Gulf countries for progress of the MoUs.

Sharif, per the statement, said all requirements for foreign investment in solar energy projects in Muzaffargarh, Layyah and Jhang should be completed and stressed on the need for a feasibility study for railway connectivity from Reko Diq to Gwadar seaport. He also urged expediting work on the railway line to access the power plants of Thar Coal.

The meeting was informed that dredging of Gwadar Port had been completed, and big ships could now be anchored there. It was also told Gulf nations were expected to invest in renewable energy, oil refining, mining, food security, banking and financial services, logistics, water supply, and waste management sectors.

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