Jam Kamal chairs meeting for export target strategy

KARACHI: Federal Minister for Commerce Jam Kamal Khan on Monday chaired the inaugural meeting of a high-level committee formed by Prime Minister Shehbaz Sharif, aimed at streamlining tariff policies to bolster Pakistan’s export ambitions.

The committee, convened to achieve an export target of $60 billion by 2027-28, was addressed by Minister Jam Kamal Khan, who talked about the complexity of the task and the necessity for meticulous planning.

Acknowledging the extensive scope, Khan announced the formation of three subcommittees tasked with generating detailed recommendations. These subcommittees will collaborate closely with the main committee to compile a comprehensive report for the PM’s review.

“Given the intricacy of the topic, we require ample time for thorough deliberation, incorporating insights from all stakeholders,” stated the minister.The session witnessed significant contributions from Federal Minister for Industry and Production Rana Tanveer Hussain and Minister of State for Finance, Revenue, and Power Ali Pervaiz Malik. Both ministers supported the commerce minister’s approach and proposed the formation of specialized working groups to handle specific terms of references (TORs).

Attending the meeting via Zoom were secretaries from relevant ministries, the chairperson of the Federal Board of Revenue (FBR), and other key members of the committee.The committee’s TORs include a comprehensive review of existing proposals, recommending short to long-term tariff rationalization measures, and devising a strategic roadmap to attain the ambitious export target.The Ministry of Commerce will serve as the secretariat for the committee, tasked with finalizing recommendations within the next two weeks.