Pakistan finalises strategy to propel exports to $100bn

ISLAMABAD: Following the establishment of two powerful advisory council, the Ministry of Commerce has finalised a strategy to propel Pakistan’s exports to the ambitious target of $100 billion, ARY News reported on Friday, citing sources.

Sources told ARY News that it has been proposed to enhance access of Pakistani products in the Chinses markets – which according to the advisory councils will boost the country’s exports.

It has also been proposed to promote textile and non-textile products in Chinese markets, sources added.

In this regard, informed sources claimed that a delegation of Pakistani industrialists – led by Minister of Commerce, Dr Gohar Ejaz – will visit China. The delegation will discuss its strategy to boost Pakistani exports with Chinese investors, they added.

Sources added that a delegation of the heads of the country’s largest companies will also travel to China.

It is pertinent to mention here that the Ministry of Commerce established two powerful export advisory councils to devise a strategy for the promotion of textile and non-textile products.

Excited to announce the formation of the Industry Advisory Council, comprising 13 top groups in Pakistan!

Together, we will be formulating a robust industrial policy that will drive economic growth and development. Thrilled to lead this initiative as the Federal Minister of… pic.twitter.com/5k7wpbzoSP

— Dr Gohar Ejaz (@Gohar_Ejaz1) November 18, 2023

The councils were tasked with developing sector-specific strategies to increase export volumes. These councils are set to formulate policy guidelines within an eight-week time frame, which will then be presented to the Special Investment Facilitation Council (SIFC) for approval.

This initiative is a key component of the overarching strategy aimed at achieving the ambitious export target of $100 billion.

The Export Advisory Council for Textile is comprised of notable members from the private sector, including individuals from Interloop Holdings, Alkaram Textiles, Soorty Textiles, US Group, Artistic Milliners, Kohinoor Mills, Sapphire Textile Mills, Kamal Textile Mills, and TBC company.

Similarly, the Export Advisory Council for Non-Textile products includes members from the private sector representing Guard Agricultural Research and Services, Iftikhar Ahmed & Co, K&N’s Foods (Pvt) Ltd, Malik Sports, Hanif Jewelry & Watches, Hirani Pharmaceuticals, Tufail Chemicals, Amicas Enterprises, Infinity Engineering Pvt Ltd, Popular Marble Industries, Leather Ltd, Getron (Industries) Ltd, Ghani Glass, and Garibsons (Pvt) Ltd.