January 11, 2024 (MLN): Dr. Gohar Ejaz, the Federal Minister for Commerce, Industry, and Investments envisions a substantial boost in Pakistan's exports, projecting a $20 billion increase for the year 2024 (January to December), as per a press release issued today.
This optimistic outlook comes after concerted efforts by the caretaker team to address the challenges faced by Pakistani exports.
In July 2023, Pakistani exports had faced a setback, declining to $2.068 billion.
Recognizing the significance of this challenge, the caretaker setup, assuming office in August 2023, dedicated itself to enhancing exports and curbing the trade deficit.
The results of these efforts are evident in the remarkable progress achieved by December 2023, with exports surging to $2.812bn—a noteworthy increase of $511 million.
The caretaker team's strategic focus on elevating the export of manufactured goods has played a pivotal role in this success.
By ensuring adequate energy supplies for industrial production, Pakistan has successfully revitalized exports, particularly targeting markets in the USA and EU.
This revival in export capacity sets the stage for Dr. Gohar's optimistic projection of a $20bn increase in exports for the upcoming year.
Dr. Gohar Ejaz expressed confidence in the positive trajectory and emphasized his commitment to fostering sustained economic growth through robust export strategies.
