PIAF welcomed the ambitious target to achieve USD 60b export

LAHORE, (APP - UrduPoint / Pakistan Point News - 26th Jul, 2026) Pakistan Industrial and Traders Associations Front (PIAF) Chairman Faheemur Rehman Saigol has welcomed the government's ambitious target of increasing the country's exports to USD 60 billion.

Faheemur Rehman Saigol, who is also President of the Lahore Chamber of Commerce and Industry (LCCI), however, stressed the need for a comprehensive package of practical measures to create a competitive business environment and make the target achievable.

He along with PIAF Senior Vice Chairman Nasrullah Mughal and Vice Chairman Tahir Manzoor Chaudhry told media here Sunday that the decision to place exports at the center of the country's economic strategy was encouraging, as sustainable export growth was essential for strengthening foreign exchange reserves, improving the balance of payments and reducing Pakistan's recurring dependence on external borrowing and bailout programs.

The PIAF leadership, however, stressed that setting an ambitious export target alone would not be sufficient but the policymakers. The policymakers must move swiftly towards developing a clear, time-bound and implementable road map, with measurable sector-wise targets and a mechanism for regularly monitoring progress.

They said exporters and manufacturers continued to face multiple challenges that directly affected their ability to compete in international markets. High energy and production costs, delayed tax refunds, expensive financing, regulatory complications, frequent policy changes and difficulties in accessing new markets needed to be addressed as a matter of priority, they argued.

Faheemur Rehman Saigol said, the private sector could play a central role in achieving the USD 60 billion export target if the government provided a predictable policy framework and removed the structural bottlenecks restricting industrial growth. He called for timely payment of legitimate tax refunds, rationalization of business costs, simplified regulatory procedures and improved access to affordable financing for export-oriented industries.

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He said the government's export strategy should focus not only on increasing the volume of existing exports but also on enhancing value addition and diversifying the country's export basket. Pakistan needed to move towards higher-value products and expand its presence in sectors including engineering goods, information technology, pharmaceuticals, processed food, agriculture and other emerging industries with strong global demand.

The PIAF office-bearers emphasized that the textile sector would remain an important pillar of Pakistan's export economy, but greater attention should also be given to developing new export sectors and encouraging investment in modern technology, research, innovation and skills development. This would enable Pakistani businesses to improve productivity, enhance product quality and compete more effectively with regional and international competitors.

They also called for greater support for small and medium enterprises, saying SMEs represented a significant untapped potential for expanding Pakistan's export base. Easier access to finance, technology, formalization, training and international market information could help more SMEs become part of the formal export supply chain.

The PIAF leaders stressed the need for close coordination between Federal ministries, provincial governments, trade bodies and the private sector to ensure that export policies were aligned with the realities faced by businesses. They said business associations should be regularly consulted during policy formulation so that decisions could be implemented effectively and produce tangible results.

They further urged the government to strengthen trade and economic diplomacy, facilitate exporters in exploring new international markets and review existing trade agreements with the objective of securing greater market access for Pakistani products.