Caretaker Federal Minister for Commerce, Gohar Ejaz, envisions a substantial $20 billion boost in Pakistan’s exports by the end of 2024. This optimistic outlook follows dedicated efforts by the caretaker team to address export challenges faced by the country. In July 2023, exports faced a setback, declining to $2.068 billion.
Since assuming office in August 2023, the caretaker team has focused on enhancing exports, leading to a notable progress with exports surging to $2.812 billion by December 2023. The strategic emphasis on elevating the export of manufactured goods has been a key factor in this success, setting the stage for the minister’s ambitious projection.
During the first six months of the current fiscal year (1HFY24), exports increased by 5 percent to $14.981 billion compared to the same period last year. The year-on-year increase in December 2023 stood at 22 percent. However, despite recent export growth, some experts view the $20 billion target as overly ambitious, questioning the feasibility of achieving such a substantial increase in exports within the next 12 months.
