On Thursday, Prime Minister Shehbaz Sharif led a high-level meeting focused on increasing Pakistan’s exports, with a target of reaching $60 billion within the next five years. He instructed his economic team to devise a comprehensive and sustainable strategy to enhance exports and reform the country’s tariff system to make it simpler and more efficient.
The Prime Minister emphasized that reducing tariffs and improving the ease of the system would significantly benefit industrial growth. He also pointed out the importance of increasing production capacity by reforming the tariff structure, particularly in sectors like services, information technology, and agriculture.
The Prime Minister highlighted that achieving export-driven economic growth was a key part of his “Uraan Pakistan” vision, underscoring the need for reforms in the Export Development Fund to support the export industries. During the meeting, the government’s efforts to reform the Ministry of Commerce were discussed, with progress being made toward achieving the $60 billion export target. Additionally, the Ministry has been hosting international exhibitions and engaging in consultations for the Strategic Trade Policy Framework 2025-30 and the Ecommerce policy.
A new National Compliance Center, aimed at aligning Pakistani products with international standards, is also set to launch soon, helping to build capacity and provide training for the export industries.
In a separate meeting, the Prime Minister reviewed reforms in the health and pharmaceutical sectors. He directed the establishment of a high-standard drug testing laboratory in Islamabad to ensure the quality of medicines. Furthermore, mobile hospitals are to be launched to offer health services in remote areas such as Gilgit-Baltistan, Kashmir, and Balochistan.
PM Shehbaz Sharif stressed the need to crack down on counterfeit drugs through coordinated efforts with provincial governments. He also called for swift action against Drug Regulatory Authority of Pakistan (DRAP) officials who facilitate fraud in the pharmaceutical sector.
The Prime Minister emphasized the importance of boosting research in pharmaceuticals to increase exports. Reforms to the Drug Regulatory Authority are being expedited, with plans for appointing experienced professionals to strengthen the Drug Pricing Committee.
In terms of the pharmaceutical sector’s exports, the government aims to increase the current $500 million export volume. The Ministry of Health is also working on enhancing the surgical sector’s export capacity to meet international standards, further contributing to the nation’s export growth.
Federal ministers, including Nazir Tarar and Ahad Khan Cheema, along with high-level officers, attended the meetings, providing updates on progress and the steps being taken to implement these crucial reforms.
