PM Shehbaz urges the creation of a plan to boost exports to $60 billion within five years.

On Thursday, Prime Minister Shehbaz Sharif gave the task of creating a thorough and practical plan to boost the nation’s exports to $60 billion over the following five years.

Details indicate that he presided over a meeting with the goal of increasing economic development and national exports. The prime minister gave his economic staff instructions to change the tariff structure in a way that would be sustainable.

He emphasized that in order to facilitate conducting business, tariff rates should be lowered and the procedure should be made simpler.

Improving the productivity of the industrial sector through the implementation of strategic reforms in the tariff structure is a major component of the strategy.

In order to boost exports, PM Shehbaz also gave the IT, services, and agricultural sectors more attention.

The prime minister said in his speech that a key element of the “Udaan Pakistan” strategy is export-based economic growth.

In order to encourage the growth of export sectors, he also emphasized the necessity of reforming the governance structure of the Export Development Fund (EDF).

A briefing on the steps being taken to reach the goal of 60 billion dollars in exports over the next five years was provided during the meeting. According to reports, the upward trend was aided by the progressive reduction of tariff rates during the previous two years.

To encourage exports, the ministry of commerce held annual international fairs, and discussions with all interested parties are still going on over the 2025–30 Strategic Trade Policy Framework.

The prime minister was also informed about the National Compliance Center’s completion, which strives to bring Pakistani goods into compliance with international standards. By providing training and development programs, this center will be essential in boosting the export industries’ capability in Pakistan.

The meeting was attended by Federal Minister for Commerce, Mr. Jam Kamal Khan, Minister for Economic Affairs, Mr. Ahad Khan Cheema, Minister of Finance, Mr Mohammad Aurangzeb, Chairman FBR, Mr Rashid Mahmood Langrial, and senior officials from relevant institutions.