ISLAMABAD, March 6: Prime Minister Shaukat Aziz on Tuesday approved a strategy aimed at increasing the country’s exports to $40-$45 billion by the fiscal year 2013 from the current $16.5 billion.
The strategy was approved at a high-level meeting headed by prime minister urging for creating enabling policy environment, human capital development, strengthening of physical and technological infrastructure, improvement in logistics chain, investment and trade facilitation, production of high quality products and marketing of products.
Deputy Chairman of the Planning Commission Dr Akram Shaikh presented the details of the strategy. The meeting was attended among others by Commerce Minister Hamayun Akhtar Khan, Industries Minister Jahangir Khan Tareen, Textile Minister Mushtaq Ali Cheema and Dr Salman Shah.An official announcement issued after the meeting said the government was pursuing a demand-driven strategy to enhance exports which had become the lifeline and a major mechanism to drive the economy, earn foreign exchange and generate employment.
The prime minister said that further steps needed to be taken to increase the exports from 13 per cent to 15 per cent of GDP. He said with globalisation the entire economic paradigm had shifted and with quota-free regime there was an urgent need to find new markets, diversify them and export value-added goods.
Mr Aziz said improved competitiveness and productivity were critical to increasing exports and with this in view the government had embarked upon an ambitious programme to imparting skills and improving the logistics chain within the country and with the adjoining regions of Central Asia and West Asia and Western China.
He said the government had launched a comprehensive economic diplomacy to give the country access to huge markets. “The government is also making efforts to conclude free trade agreement (FTAs) with the US and the European Union,” he added.
The premier said private sector needed to increase its competitiveness and productivity and ensure quality and standardisation of products without which a quantum leap in exports was not possible.
