Prime Minister Shehbaz Sharif directed the Ministry of Energy to devise a detailed strategy to reduce electricity costs. Speaking at a meeting of the National Export Development Board, held in Islamabad, the Prime Minister underscored the critical need to lower power expenses to enhance industrial growth and competitiveness.
During the meeting, it was reported that Pakistan’s exports have impressively surpassed $30 billion this year. In light of this achievement, PMShehbaz Sharif set an ambitious goal of doubling the country’s annual exports to $60 billion within the next five years. He urged the Ministry of Commerce and other relevant agencies to implement actionable measures to achieve this target within a three-year timeframe.
The Prime Minister commended the resilience of Pakistan’s business community, recognizing their contributions despite challenging conditions. He noted that, in the previous fiscal year, Pakistan’s exports not only exceeded $30 billion but also saw information technology exports reach over $3.2 billion.
PM Shehbaz Sharif also called for an urgent resolution to shipping issues that are causing delays in delivery times to Europe and the United States. Furthermore, he demanded that the Federal Board of Revenue expedite refund processing for exporters to ensure smooth operations.
The Ministry of Energy has been assigned the crucial task of creating a plan to lower power costs for industries, a move that is expected to play a pivotal role in supporting Pakistan’s export growth and economic development.
