The minister charts the course for export growth

The minister charts the course for export growth

Federal Commerce Minister Jam Kamal Khan reiterated the government’s commitment to facilitate diversification of trade, industry and exports on Monday. He stated that measures are being devised to promote both local and export-oriented industries.

Speaking at a media briefing at the Trade Development Authority of Pakistan (TDAP), the commerce minister emphasized the government’s determination to bring about institutional and structural reforms, resolve energy and tariff issues, improve regional connectivity, and diversify exports to ensure sustainable growth and stabilize the economy. .

Kamal mentioned that Prime Minister Shehbaz Sharif has held several meetings with relevant ministries and stakeholders to address various challenges faced by business and industry in Pakistan. He emphasized the formation of a high-level committee to address energy prices, governance reforms, and coordination among ministries and stakeholders.

On export diversification initiatives, the minister noted positive results from events such as the Food and Agriculture fair and TDAP’s ‘Pakistan Trade Portal’. He mentioned the expected jump in total exports of the food and agriculture sector, exceeding $7 billion in the current financial year, driven by increased exports of rice, maize, sesame and other agricultural products.

The minister emphasized the importance of focusing on all sectors, not just one, mentioning the struggling textile sector and the efforts being made for its development.

He emphasized ongoing negotiations with Saudi Arabia, expecting progress in the agricultural, renewable energy, petroleum, mining and information technology sectors. He mentioned further negotiations with the GCC countries and Pakistan’s participation in the International Trade Fair in Japan in 2025.

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