ISLAMABAD: Prime Minister Shehbaz Sharif has constituted a high-poweredcommittee chaired by Deputy Prime Minister and Foreign Minister Ishaq Darto spearhead an aggressive strategy aimed at doubling Pakistan’s exports to$60 billion within the next four years. This move comes as the governmentseeks to break free from reliance on International Monetary Fund programmesand short-term loans from friendly countries, following recent briefingsthat underscored the critical need for export-led growth to sustaineconomic stability. Planning Minister Ahsan Iqbal revealed the initiativeduring a press conference, emphasizing that without such bold measures,Pakistan risks repeated bailouts and persistent external vulnerabilities.The committee is tasked with reviewing proposals to declare an exportemergency, streamline refunds, and remove structural bottlenecks that havelong hampered export competitiveness.
Recent data highlights the urgency of this initiative, as Pakistan’s annualgoods exports hover around $30-35 billion, far below the untapped potentialestimated by the Planning Commission at over $60 billion. In the first halfof the fiscal year, exports faced declines, with December 2025 recording a20.41 per cent year-on-year drop, contributing to a widened trade deficit.Despite challenges including floods, supply chain disruptions, and highproduction costs, sectors like textiles, rice, and garments continue todominate export earnings. The government’s focus now shifts to transformingthese into high-value-added products, drawing comparisons to regionalsuccess stories where export growth has driven rapid economic expansion.
The Dar-led committee is expected to submit its recommendations to theprime minister within the coming week, incorporating inputs from tradebodies and stakeholders. Key proposals include establishing a PrimeMinister’s hotline for exporters, maintaining a dedicated dashboard toensure tax refunds are processed within 30 days, and addressing delays thatlock up working capital. These measures aim to alleviate the structuralhigh cost of doing business, which remains distorted by fragmentedtaxation, inverted input tariffs, advance income tax deductions, and policyunpredictability that undermines investor and buyer confidence.
Experts point out that Pakistan’s exports have grown only 4.1 times overthe past 24 years, in stark contrast to Vietnam’s 26-fold increase duringthe same period. Priority sectors identified for accelerated growth includetextiles, agriculture, engineering goods, information technology services,and emerging areas such as minerals and fisheries. The strategy emphasizesshifting from low-value to high-value exports, with district-wise plansdeveloped in consultation with trade associations to leverage localstrengths and untapped opportunities across the country.
High and volatile energy costs continue to erode export margins, withelectricity and gas tariffs exceeding regional benchmarks and subject tofrequent adjustments. This volatility inflates production expenses acrossmanufacturing and agro-processing, diverting orders to competitors. Thecommittee’s roadmap is anticipated to advocate for tariff restructuring,rationalisation of energy pricing, and improvements in the ease of doingbusiness to make Pakistani products more competitive globally.
Beyond immediate reforms, the initiative aligns with broader ambitions toelevate Pakistan’s economy to $1 trillion by 2035 through export-ledproductivity gains, rather than the projected $600 billion under a statusquo scenario. Achieving $60 billion in exports is seen as a stepping stoneto $100 billion over the longer term, reducing dependence on externalfinancing. Pakistan currently owes nearly $13 billion in short-term loansto bilateral partners, underscoring the imperative to pivot towardsustainable, self-reliant growth.
Read Top Stories
The formation of this committee reflects a concerted effort to fosterpublic-private collaboration, with calls for Arshad Nadeem-like championsin the export sector to drive leapfrog progress. Successful implementationcould generate substantial employment, enhance foreign exchange reserves,and position Pakistan on a path of resilient economic development amidglobal uncertainties.
Source: https://tribune.com.pk/story/2586809/pm-mulls-swift-60b-export-push
Tags: Pakistan, Ishaq Dar, Shehbaz Sharif, IMF, exports
ogimageimage-name
