Prime Minister Calls for Export-Led Growth to Boost Economic Development

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Islamabad: Prime Minister Shehbaz Sharif has called for a focus on export-led growth as a key driver for economic development. During a federal cabinet meeting held in the capital, he expressed satisfaction with the country’s macroeconomic stability and emphasized the importance of moving towards growth.

According to Ministry of Information and Broadcasting, the Prime Minister highlighted the launch of Uraan Pakistan, a five-year economic plan, as a significant initiative. He stressed the need for diligence and steadfastness to achieve the plan’s targets and acknowledged the contributions made by various ministries in its preparation.

The Prime Minister also noted that foreign remittances reached $15 billion in the first five months of the fiscal year, with the potential to hit a historic $35 billion if current trends continue. He mentioned that the revenue collection target for December was achieved at 97 percent, and praised the trial run of the Faceless Customs Assessment System at Karachi Port, which has expedited container inspections.

Efforts to curb sugar smuggling to Afghanistan have been successful, for which the Army Chief was credited. The Prime Minister discussed ongoing efforts in rightsizing and downsizing, and noted the establishment of a world-class airport in Gwadar with Chinese support, which is expected to transform into a commercial hub.

Additionally, the Prime Minister paid tribute to security personnel for their sacrifices in counter-terrorism efforts. Deputy Prime Minister and Foreign Minister Ishaq Dar informed the cabinet about Pakistan’s upcoming term as a non-permanent member of the UN Security Council for 2025-2026, which the cabinet commended.

The cabinet also looked into public sector imports via Gwadar Port and approved rules for appointing officers of the Information Group in Pakistani missions abroad to ensure transparency. Furthermore, it approved the registration of Liaquat University of Medical and Health Sciences in Thatta.