Govt Committed To Double Exports' Volume In 5 Years: PM

Prime Minister Muhammad Shehbaz Sharif on Wednesday expressed the confidence that the the country's exports volume would be doubled over the next five years with the support of business community

KARACHI, (UrduPoint / Pakistan Point News - 24th Apr, 2024) Prime Minister Muhammad Shehbaz Sharif on Wednesday expressed the confidence that the the country's exports volume would be doubled over the next five years with the support of business community.

He said the government, in consultation with the business community, would chalk out a comprehensive policy framework to increase the exports that would ultimately help ensure sustained economic growth.

The export-led growth would also help resolve the country's foreign exchange reserves' issue, he added.

"You are actually the backbone of the national economy as without your support, the government cannot bring the country out of economic crisis," the prime minister said while addressing the business community.

He asked the business community to sit with the government to resolve their issues and challenges as it was the only way to move forward, and bring development and prosperity to Pakistan.

"We should get together in the larger national interest. The brilliant minds should together find ways to overcome the challenges and problems hindering the country's development and prosperity."

It was the only way to regain the country's lost glory, the prime minister said.

PM Shehbaz highlighted that the government was fully focused on bringing revolution in sectors of agriculture, mines & minerals, information technology and industry.

He also expressed the government's resolve to work for reducing unemployment, poverty and inflation in the country, which, he said, could not be possible without the support of the business community.

As regards the sugar situation in the country, the prime minister said the government might opt for export of the commodity in case its stock was in surplus. He said the government was also focusing on curbing smuggling of the commodity.

PM Shehbaz highlighted that due to the efforts of interim and current governments, positive news were being received about macro economic indicators.

"The current account is in surplus, remittances are increasing, inflation is moving down, and the stock exchange is showing record progress," he remarked.

The prime minister assured that the privatization process would be carried out in a transparent way without any bureaucratic hurdles. The government would consult the business community before finalizing any transaction in that regard.

He said it was not the government's job to run the businesses, rather the private sector was there for the purpose, which could play their due role in the country's development and prosperity.

The prime minister pointed out that the government paid rebates of Rs 65 billion soon after taking over the office.

He asked the business community to bring in modern techniques and technologies and high quality marketing in their businesses.

He said an amount of Rs 2.7 trillion of tax money was stuck in litigation, and the government was trying to get the court decisions as soon as possible.