Wednesday, February 28, 2024

Pakistan Targets $50 Billion Export in 5 Years

Pakistan has set ambitious targets for its export growth, aiming to reach $50 billion within the next five years and envisioning a long-term goal of $100 billion, as outlined by the commerce ministry. To achieve this, the nation is placing a strategic emphasis on bolstering its textile sector, a vital component of its export industry. The forthcoming Textile Expo is a key initiative aimed at showcasing and promoting the country’s textile products on a global scale.

The significance of these goals is underscored by the notable uptick in export revenue, which surged to $39.42 billion last year, signaling a substantial increase from the previous year. Dr. Gohar Ejaz, the commerce minister, has emphasized the pivotal role of expanding exports in augmenting national income and fostering economic development.

Acknowledging the necessity for a robust export strategy, the minister’s statement reflects a comprehensive approach to not only meet short-term targets but also to lay the groundwork for sustained and substantial export growth, contributing significantly to Pakistan’s economic advancement in the years to come.

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