Prime Minister Shehbaz Sharif Declares Export Industry Performance Unsatisfactory; Praises Field Marshal Asim Munir’s Unprecedented Commitment
KARACHI: Overall performance of the country’s export industry is not satisfactory, and Prime Minister Shehbaz Sharif has been vocal about it, asserting that the industry has failed to produce the expected growth despite decades of tremendous investment and subsidies from the government.
In a video message to the ceremony, the prime minister highlighted that price rates have moved upward, but the “rewards of the tangible in terms of export volumes” have not been as expected and said that it was “a fact of life, not a personal criticism”.The Prime Minister’s Address contained some key highlights:
The government is bemoaning the failure of promised export expansion despite its having offered big financial boosts and support to exporters by successive governments for decades, Prime Minister Shehbaz said.Honoring National Leadership and Military Commitment: During his recent visit to New York to meet with Managing Director of the International Monetary Fund (IMF), the premier emphasized the hard work being done by the team effort to achieve economic recovery, giving praise to the spirit of National Leadership and Military Commitment. He particularly endorsed Field Marshal Asim Munir and its message in terms of national service was “unparalleled” in his unwavering commitment and resolve.
Rebuilding Institutional Trust: The prime minister pointed out that these institutions, through their systemic reforms and asset recoveries, had changed the perceptions of the international community, including recognition by multilateral partners of Pakistan’s steady economic turnaround, and highlighted collaborative efforts and successes.
Speaking at the event, Federal Minister for Finance Muhammad Aurangzeb highlighted that Pakistan needs to move away from the ‘boom and bust’ economic cycles towards sustainable long-term development.Focus on Structural Stability:
Sustainable macro-economic stability is more important than temporary liquidity-driven expansions, said Aurangzeb.Expanding Horizons: The finance minister explained that Pakistan needs to enter a modern economy 2.0, a vision that goes beyond digital assets and crypto, and covers a wide range of structural, technological and fiscal reforms.