LAHORE: Dr. Ejaz Gohar, the Federal Caretaker Minister for Commerce, Industries, and Investment, voiced faith in the government’s endeavors to guide the nation’s economy toward self-sufficiency.
Gohar presented important tactics for long-term economic growth at the three-day 3rd Engineering and Healthcare Show, which was arranged by the Ministry of Commerce and Industries in association with the Trade Development Authority of Pakistan (TDAP) at the Expo Center here on Friday.
The minister stressed that the next elected government must maintain the policies and tempo of the outgoing administration, with a particular emphasis on meeting the ambitious export objective of $100 billion within the next ten years. Gohar emphasized that the main goal should be to boost exports, and the government is implementing export-friendly policies to make this easier.
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Gohar cited economic difficulties as Pakistan’s main problem and emphasized the need to triple exports while bolstering a number of industries, most notably textiles, agriculture, and the power industry. He disclosed that Pakistan has increased its exports by 50% over the previous five months, reaching $2 billion in July 2023, in spite of the constraints set by the IMF.
Gohar announced a subsidized tariff of nine cents per unit of electricity for all industries, highlighting attempts to increase exports. He reiterated the government’s resolve to strengthen the agriculture, textile, and other industries that are essential to economic expansion. The minister projected a doubling of the nation’s export figures with the revised tariffs, noting a monthly increase in exports of one billion dollars over the previous three months.
