Prime Minister Shehbaz Sharif is taking decisive action to boost Pakistan’s trade sector and enhance export competitiveness. In a recent meeting, he directed the formulation of trade policies to support businesses and promote the export of non-traditional goods. Immediate payment of certified duty drawback for exporters was also prioritized.
Furthermore, PM Shehbaz emphasized the importance of consulting with the private sector in policy-making and implementing measures to support the auto sector. He also ordered a thorough assessment of trade and investment officers stationed abroad to ensure optimal performance and accountability.
The meeting highlighted progress on trade agreements with Gulf states, Uzbekistan, and Tajikistan, as well as the growth of e-commerce trade in Pakistan. Additionally, developments in Afghan Transit Trade monitoring, public sector insurance, gem export framework, and potential barter trade with Russia were discussed.
Stakeholder consultations are ongoing for preferential trade agreements with Azerbaijan and Afghanistan, along with legislation to establish a Technology and Innovation Fund for industrial development. PM Shehbaz reiterated his commitment to reviewing export sectors regularly to ensure sustained growth and development.
With these proactive measures in place, Pakistan’s trade sector is poised for expansion and increased international collaborations.