Govt committed to double exports’ volume in 5 years: PM Shehbaz

KARACHI: Prime Minister (PM) Shehbaz Sharif on Wednesday expressed his confidence that volume of Pakistan’s exports would be doubled over the next five years with the support of the country’s business community.

He said the government, in consultation with the business community will chalk out a comprehensive policy framework to increase the country’s exports that would ultimately help ensuring export-led growth.

PM Shehbaz Sharif said the export-led growth would also help resolving the foreign exchange reserves’ issues in Pakistan.

“You are actually the backbone of the country’s economy as without your support, the government can not bring the country out of economic crisis,” the prime minister said while addressing the business community in a ceremony held here.

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

“We should get together in larger interest of the country and the brilliant minds should together find ways to resolve the challenges and problems hindering the country’s development and prosperity,” he said adding that this was the only way to regain our lost glory.

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

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He also expressed the government’s resolve to reduce unemployment, poverty and inflation in the country. For this, he said the government needed support of the business community in real sense who could ensure

As regards sugar situation in the country, the prime minister said the government would go for export of the commodity in case the sugar stock is 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 in macro economic indicators.

“Current account is in surplus, remittances are going higher, inflation is moving down, and the stock exchange is showing record progress,” he remarked.

He also assured to conclude the privatization process in a transparent way without any bureaucratic delay and the government would consult the business community before going to conclude any transaction.

He said it was not the government’s job to run the businesses as the private sector was responsible to run the business and play their due role in the country’s development and prosperity.

The prime minister pointed out that the government paid rebates worth of Rs 65 billion immediately 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. He said the government was trying to get the decisions of the cases as soon as possible.