Dr. Gohar Ejaz, Federal Minister for Commerce, Industry, and Investments, forecasts a $20 billion rise in Pakistan’s exports for the fiscal year 2024 (January to December).
This upbeat forecast follows the caretaker team’s strenuous efforts to resolve the difficulties confronting Pakistani exports.
Pakistani exports had suffered a setback in July 2023, falling to $2.068 billion. Recognizing the gravity of the situation, the caretaker administration, which takes office in August 2023, has committed to increasing exports and reducing the trade deficit.
Also Read: Islamabad International Airport, Serena Hotel form strategic alliance
The consequences of these efforts are shown in the amazing progress made by December 2023, with exports leaping to $2.812 billion—a $511 million gain. The strategic focus of the caretaker team on increasing the export of manufactured goods has been critical to this success.
Pakistan has effectively reinvigorated exports by assuring enough energy supplies for industrial output, with a focus on markets in the United States and the European Union. This recovery in export capacity lays the groundwork for Dr. Gohar’s bullish forecast of a $20 billion increase in exports for the coming year.
Dr. Gohar Ejaz expressed optimism about the future and reiterated his commitment to creating long-term economic growth through powerful export strategy.
