PM Shehbaz chairs meeting to finalize strategy for boosting Pakistan’s exports

ISLAMABAD: Prime Minister Shehbaz Sharif chaired a high-level meeting to review a policy framework aimed at increasing Pakistan’s exports, with participants presenting recommendations and suggestions to strengthen the country’s export sector.

During the meeting, the prime minister emphasized that export-oriented industries are essential for achieving Pakistan’s long-term economic development goals.

He said the government is focused on expanding exports and providing greater facilitation to industries, directing officials to formulate a comprehensive plan to support small and medium-sized enterprises (SMEs) and industrial units to enhance export performance.

Prime Minister Shehbaz also called for a strategy to promote new businesses and industries that can contribute to higher exports and diversify Pakistan’s export base.

He stressed that investment in research and development (R&D) and innovation within the industrial and commercial sectors would improve Pakistan’s competitiveness in global markets.

Separately, members of the Senate of Pakistan discussed the economic impact of recent regional tensions and measures needed to reduce government expenditures and stabilize the economy.

Senator Mohsin Aziz said Pakistan’s exports had declined by $4 billion, adding that citizens currently hold Rs 38 trillion in bank deposits, with Rs 18 trillion shifted from businesses into banks.

He further noted that electricity and gas prices have doubled, while circular debt continues to rise despite the increase in utility tariffs.