PM Shehbaz Industry Export Boost Plan Announced
Prime Minister Shehbaz Sharif introduced the Shehbaz export boost plan to strengthen industry and trade. He stressed economic stability but admitted challenges remain. However, he promised stronger steps for growth.
He said poverty and unemployment have increased in recent years. Therefore, exports must rise quickly. In addition, friendly countries like China, KSA, UAE, and Qatar can support trade partnerships.
Focus on Rates and Private Sector
The prime minister highlighted high electricity costs hurting exporters. For example, local products struggle against cheaper foreign goods. He also noted the policy rate dropped but still feels high.
Recently, the State Bank kept the benchmark rate at 10.5 percent. As a result, businesses seek further relief. Moreover, he encouraged the private sector to lead business activities instead of government control.
IMF Talks and Growth Plans
The government continues discussions with the IMF about economic reforms. He shared that meetings are ongoing with the finance minister. Therefore, updates will come once clear results appear.
He emphasized sustainable, export led growth as the future path. In addition, he confirmed that two high level meetings already shaped the strategy. The goal remains job creation and poverty reduction.
Taxes and Export Recognition
The prime minister supported lowering direct tax rates for industries. He believes this step can encourage production and exports. However, he insisted that indirect tax collection will continue firmly.
Earlier, officials honored exporters for strong economic contributions. As a result, business confidence received a positive signal. This recognition aims to inspire more companies to expand globally.
