PM Shehbaz orders measures to boost exports, diversify products and markets

Prime Minister Shehbaz Sharif has ordered a series of measures aimed at boosting Pakistan's export growth and diversifying the country's product and market offerings, according to a report from the PM Office. The prime minister emphasized the importance of expanding Pakistan's export base beyond traditional sectors, directing authorities to bring additional sectors and industries into export activities to cultivate a more diverse trade portfolio and enhance the nation's presence in the global marketplace.

He instructed officials to align Pakistani products with international standards, improve quality assurance systems, and ensure compliance with global regulations. The prime minister also stressed the importance of adding value to Pakistani products to enhance their competitiveness in the global market. This includes promoting modern technology, research, and innovation in export-oriented industries, as well as leveraging digitalization and emerging technologies to modernize the economy.

During the review meeting, various proposals were discussed, including accessing new international markets, diversifying export sectors, improving product quality, and simplifying the export process. Efforts were underway to negotiate free trade agreements and preferential trade arrangements with friendly nations, as well as to include Pakistani horticultural products in the export basket.

Initiatives were also being taken to increase exports of surgical and medical equipment by encouraging local exporters to partake in international hospital tenders and procurement processes.

The Export Development Fund (EDF) restructuring was completed, with further measures being implemented through the fund to support the business community. Notable attendees at the meeting included Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar, as well as various federal ministers and senior officials from relevant institutions.