ISLAMABAD: Prime Minister Shehbaz Sharif has directed the formulation of a comprehensive strategy to boost Pakistan’s exports to $60 billion within the next five years, with a focus on services, information technology, and agriculture.
Chairing a meeting on Thursday, the prime minister emphasized the need for reforms in the tariff structure to enhance industrial production capacity. He urged his economic team to implement sustainable tariff system reforms to drive economic growth and expand exports.
Officials briefed the prime minister on ongoing efforts to restructure the Ministry of Commerce and achieve the $60 billion export target. It was noted that tariffs had been gradually reduced over the past two years, and Pakistan had been hosting international exhibitions to promote trade. Consultations were also underway with stakeholders on the Strategic Trade Policy Framework 2025-30, while the E-commerce policy was in its final stages and would be presented for cabinet approval next month.
In a separate meeting on health and pharmaceutical sector reforms, Shehbaz directed the establishment of a high-standard drug testing laboratory in Islamabad to ensure medicine quality. He also proposed launching mobile hospitals in Islamabad’s outskirts, Gilgit-Baltistan, Kashmir, and Balochistan, alongside a coordinated crackdown against counterfeit drugs.
The prime minister highlighted the need for research in the medical field to enhance pharmaceutical exports. Officials reported that Pakistan’s current pharmaceutical exports stand at $500 million, with plans to increase them through research and structural reforms.
Meanwhile, Shehbaz held meetings with MNAs Muhammad Idrees and Ehsanul Haque Bajwa, as well as PML-N leaders Mohsin Shahnawaz Ranjha and Shah Muhammad Shah.
The prime minister is also expected to approve a Rs20.5 billion Ramazan Relief Package today (Friday), with an official announcement likely following the decision.
