Federal Minister warns of challenges to $60B export target

January 29, 2025 (MLN): The ambitious $60 billion export target will be difficult to reach unless industries receive crucial support, such as gas tariff relief and a more favorable business environment, said Federal Minister for Commerce, Jam Kamal Khan.

While addressing the “Dialogue on Economy” organized by the Pakistan Business Council (PBC), he emphasized the government’s unwavering commitment to supporting the industry.

He noted that the government acknowledges the direct connection between the industry's health and the Ministry of Commerce's performance.

With the right policies in place, he believes the $60bn export target is achievable, according to the press release.

The minister shed light on the ministry’s recent diplomatic efforts, mentioning significant engagements with key trading partners such as the US, EU, Russia, UAE, Saudi Arabia, Belarus, Uzbekistan, and Azerbaijan.

 He also highlighted his visits to untapped markets like Cambodia and Iraq, where decades-old gaps in bilateral relations were addressed to open new avenues for trade

He described these markets as holding immense potential for Pakistani exports and crucial to achieving the country’s export goals.

Highlighting the importance of policy stability, the Minister stressed that consistent policies are crucial for driving economic progress.

He also provided an overview of the Ministry of Commerce’s internal revamp efforts, aimed at boosting efficiency and tackling long-standing challenges.

Jam Kamal Khan further emphasized that the $60bn export target is not just an economic goal but a vision for a sustainable and prosperous future.

He emphasized that through collective efforts, strategic policy actions, and the government’s dedication, Pakistan can unlock its full trade potential and position itself as a dominant player in global markets.

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