Islamabad: Prime Minister Muhammad Shehbaz Sharif has directed the Ministry of Energy to present a comprehensive plan to reduce electricity costs.
A meeting of the National Export Development Board, chaired by Muhammad Shehbaz Sharif, was held in Islamabad.
During the briefing on the government’s efforts to develop the export industry, it was reported that Pakistan’s exports have exceeded $30 billion this year. A five-year plan has been proposed to double this figure.
Shehbaz Sharif set a target to increase national exports to $60 billion annually and instructed the Ministry of Commerce and related agencies to implement practical measures to achieve this goal within the next three years.
The Prime Minister also directed that, with over $30 billion in exports last fiscal year and IT exports exceeding $3.2 billion, issues identified by exporters should be resolved within the next two weeks.
He praised the business community and investors for their role in boosting exports despite challenging conditions.
He further instructed that shipping issues related to exports be addressed immediately to reduce delivery times to Europe and the US.
The FBR is to ensure there are no delays in exporters’ refunds, and the Ministry of Energy is to present a comprehensive plan to lower electricity costs for industries.