Commerce Minister anticipates a $20 billion surge in Pakistan’s exports for 2024

BusinessCommerce Minister anticipates a $20 billion surge in Pakistan’s exports for 2024

ISLAMABAD, Pakistan: The Caretaker Federal Minister for Commerce, Industry and Investments Dr. Gohar Ejaz has envisioned a substantial boost in Pakistan’s exports, projecting a US$ 20 billion increase for the year 2024 (January to December).

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 US$ 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 US$ 2.812 billion—a noteworthy increase of US$ 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 United States and European Union.

This revival in export capacity sets the stage for Dr. Gohar’s optimistic projection of a US$ 20 billion 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.

Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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