BMP $60B export target is set for three years, with calls for practical steps to enhance Pakistan’s trade performance and economic...
The Federation of Pakistan Chambers of Commerce & Industry’s Businessmen Panel has stressed the need for taking practical steps to achieve the government exports target of $60 in next three years, putting the economy on a sustainable growth trajectory by providing incentives to the industry.
As imports fell more than the decline in exports, the trade balance of goods and services improved. Exports are constrained by domestic production issues related to the slowdown of demand in the main export markets and high domestic production costs. Imports are currently constrained by sluggish domestic demand and administrative measures to protect the official foreign reserves level.
Mian Anjum Nisar said that the government has increased the gas and electricity tariffs and, at the same time, also the subsidy has been phased out, which will further increase the cost of production. The textile exports remained weak mainly due to the demand and supply challenges being faced by the sector. Global recession, which reduced the purchasing power in key export markets, also resulted in lower bookings of orders, he added. Inventory piled up at large global retailers, while gas shortages and increased costs of working capital in the country also played a role in the decline, he said.
The prime minister asked the ministry to resolve the issues pointed out by the exporters and present a report within two weeks. He said that he would personally chair the National Export Development Board meeting every one-and-half months.
BMP Export Strategy Pakistan Export Goals Trade Policy BMP Economic Growth Pakistan Export Target Challenges
پاکستان تازہ ترین خبریں, پاکستان عنوانات
Similar News:آپ اس سے ملتی جلتی خبریں بھی پڑھ سکتے ہیں جو ہم نے دوسرے خبروں کے ذرائع سے جمع کی ہیں۔
PM Chairs NEDB Meeting: Sets Target Of Achieving $60 Billion In Annual ExportsPrime Minister Shehbaz Sharif has directed the Ministry Of Commerce and other relevant departments to take practical steps to achieve the export target of sixty billion dollars in the next three years.
مزید پڑھ »
PM gives $60b target for country’s annual export in 3 yearsISLAMABAD: Prime Minister Shehbaz Sharif chaired a meeting of the National Export Development Boar wherein he tasked the authorities.
مزید پڑھ »
Various schemes launched to boost agri, livestock sectors: ministerSays practical steps being taken for uplift of livestock sector
مزید پڑھ »
PM Shehbaz sets 3-year $60 billion export targetShehbaz $60 billion export target set for the next 3 years to boost Pakistan’s trade and economic growth significantly.
مزید پڑھ »
Finance ministry reports CPI inflation heading towards single digitFinance Minister informs export-led growth was necessary to avoid another BoP crisis
مزید پڑھ »
Pakistan's exports to Afghanistan increase by 4.12pc in FY2024Pakistan’s export of goods and services to Afghanistan witnessed an increase of 4.12 percent
مزید پڑھ »