Export-led growth as key to economic progress: PM

January 02, 2025 (MLN): Export-led growth has been emphasized as a crucial strategy for driving Pakistan’s economic progress, as underscored by Prime Minister Shehbaz Sharif.

Chairing a federal cabinet meeting in Islamabad yesterday, he expressed contentment with the macroeconomic stability the country has attained and stressed the importance of shifting focus towards fostering growth.

Describing the launch of Uraan Pakistan, a homegrown five-year economic plan, as an important initiative, the Prime Minister expressed confidence that it would prove to be a good omen for the New Year.

However, he emphasized the need for diligence and steadfastness to achieve the targets and appreciated the contributions made by the ministries in preparing the economic plan.

The Prime Minister pointed out that foreign remittances reached 15 billion dollars in the first five months of the current fiscal year, expressing confidence that they could reach the historic 35bn dollar mark if the current trend continued.

He said the revenue collection target for December was achieved by 97%, which is encouraging.

He said the trial run of the Faceless Customs Assessment System at Karachi Port has facilitated the business community as it reduced the inspection time of containers by 39%

Shehbaz Sharif said the smuggling of sugar to Afghanistan has been brought to zero, crediting the Army Chief for his efforts in this regard. 

He mentioned that these success stories have been achieved despite the sit-ins by certain elements.

The Prime Minister stated efforts are underway regarding rightsizing and downsizing.

He said a world-class airport has been established in Gwadar with the support of China.

He said this facility will be turned into a world-class commercial hub, highlighting that there is an immense scope for it.

Shehbaz Sharif also paid tributes to the security personnel for their sacrifices in the war against terrorism.

Deputy Prime Minister and Foreign Minister Ishaq Dar informed the cabinet today that Pakistan is marking the start of its term as a non-permanent member of the UN Security Council for 2025-2026.

The cabinet commended this achievement by Pakistan on the diplomatic front.

Furthermore, the Prime Minister sought the details of the last three months' public sector imports via Gwadar Port to be presented at the next cabinet meeting.

The cabinet approved the rules and procedures for the appointment of officers of the Information Group in Pakistani missions abroad to further ensure transparency and merit in the process of their appointment.

It also approved the registration of Liaquat University of Medical and Health Sciences, Thatta.

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