IN response to the persistent challenges faced by Pakistan’s exports, particularly in the textile sector, the government has taken a significant step by establishing two Export Advisory Councils (EACs). It is not the first time that such an initiative has been taken. In the past also councils or committees were formed with good intentions but faced challenges in delivering tangible results.
However, one has great expectations from Minister for Commerce Gohar Ejaz, a notable figure in the dynamic second generation of business and industry leadership, and his presence adds a promising dimension to these efforts. Gohar Ejaz’s reputation as a forward-thinking and results-oriented leader sets him apart. His fresh perspective and innovative approach are expected to breathe new life into export-related strategies. The need for dynamic leadership is particularly pressing as the country grapples with a dire economic situation and a looming debt trap. At present, the statistics paint a grim picture of the export landscape, with a continuous decline in goods exports over the past eleven months. The textile sector, a vital component of Pakistan’s export portfolio, witnessed a decline of 6.3 per cent from July to October of FY24. This downturn underscores the urgent need for comprehensive measures to boost overseas sales and stimulate local job creation. In the current economic climate, enhancing exports is not merely an option but a necessity for Pakistan. The country faces severe economic challenges, including a burgeoning debt trap. Revitalizing the export sector is not only vital for economic recovery but also a strategic move to break free from the shackles of debt. The newly established Export Advisory Councils must rise to the occasion by completing their work promptly. It is imperative that they develop concrete and implementable plans of action to bolster exports and promote diversification. The efficacy of these initiatives will determine their success in steering the country away from the debt trap. While past efforts to address export challenges may have fallen short, the current circumstances demand a renewed commitment to finding effective solutions. With Dr. Gohar Ejaz at the helm, there is a genuine opportunity to bring about positive change. The Export Advisory Councils, by prioritizing prompt action and strategic planning, can pave the way for a brighter economic future for Pakistan. The time to act is now, and the success of these initiatives could mark a turning point in the country’s economic trajectory.
