THE government’s plan to declare an ‘export emergency’ and establish a special cell at the Prime Minister’s Office to address exporters’ grievances is a welcome, albeit belated, recognition of a fundamental economic truth: Pakistan cannot achieve sustainable growth or economic sovereignty without dramatically boosting its exports.
As Minister for Planning Ahsan Iqbal candidly admitted, continued reliance on IMF and friendly countries for financial support will persist unless the country transforms itself into an export-oriented economy. The minister’s remarks underscore the gravity of situation. Despite repeated claims by successive governments about prioritising exports, our export performance has remained largely stagnant over the years and far below its true potential. However, declaring an export emergency must be more than a slogan. Boosting exports by 40 per cent in four years and by 200 per cent by 2035 will require nothing short of a transformation of production ecosystem. Such a transformation can only be achieved through comprehensive consultations with business community, industrialists, small and large farmers, IT entrepreneurs and independent experts. Policymaking must be grounded in realities faced by producers and exporters from high energy costs and taxation complexities to logistical bottlenecks and regulatory uncertainty. Without addressing these issues, competitiveness in international markets will remain elusive.
The private sector, which is real engine of exports, needs a stable, predictable and enabling environment to expand its businesses. This means consistent policies, easier access to finance and reduced cost of doing business. For agriculture, which employs a large segment of the population and has immense export potential, small farmers must be fully supported not only to enhance yields but also to enable value addition through processing, packaging and branding. Moving up the value chain is essential if Pakistan is to earn more from its agricultural output rather than exporting raw or low-value products. Similarly, sectors such as information technology and knowledge-based services offer enormous opportunities to earn foreign exchange with relatively low capital investment. Yet these sectors need supportive regulations, skilled human capital and digital infrastructure to flourish. An export emergency should serve as a catalyst for deep structural reforms rather than a short-term crisis response. If backed by serious policy action and unwavering political commitment, it can help Pakistan break free from cycle of foreign loans.
