In an attempt to allay worries over hitting the $60 billion export target, Prime Minister Shehbaz Sharif cautioned the Federal Board of Revenue (FBR) on Tuesday against any delays in returning exporters’ money.
The prime minister gave instructions to the ministry of commerce and other agencies to take “all necessary measures” in order to meet the challenging goal of exporting $60 billion within three years during his speech at the National Export Development Board (NEDB).
The ministry was instructed by the prime minister to address the concerns expressed by exporters and submit a report in a fortnight. Every six weeks, he said, he would personally preside over the NEDB meetings.
The prime minister stated that as a result of government initiatives, the nation’s exports had crossed the $30 billion threshold in the previous fiscal year, with IT exports accounting for over $3.2 billion of that total. It was a “welcoming development,” in his words.
Despite difficult circumstances, he praised the business sector and investors for their contribution to growing exports.
In addition, he assigned the Ministry of National Food Security the goal of collaborating with the provinces to strengthen agricultural exports and improve extension services.
The prime minister stated that shorter delivery times should be applied to the nation’s exports to North America and Europe. In order to guarantee the smooth handover of Chinese export businesses to the nation, he continued, the government and Investment Board should work together.
To boost exports, he advocated for strengthening R&D, innovation, and brand development.
The prime minister’s regular meetings to address issues were greatly appreciated by the export sector representatives, who also described the prime minister’s strong involvement in the export sector as “very encouraging” for industrialists.
They also valued the prime minister’s initiative in securing prompt FBR reimbursements to the export sector.
