By Asghar Ali Mubarak
ISLAMABAD: Prime Minister Shehbaz Sharif has established a high-level committee to review a proposal declaring an export emergency, aimed at doubling Pakistan’s exports to $60 billion by removing bottlenecks such as delays in issuing genuine tax refunds, Planning Minister Ahsan Iqbal said on Monday.
Addressing a press conference, Iqbal said the committee would be chaired by Deputy Prime Minister Ishaq Dar and tasked with reviewing proposals to boost exports. He added that the planning ministry had last month briefed civil and military leadership on strategies to reduce reliance on the International Monetary Fund, including a target to double exports within four years.
Iqbal said the prime minister must declare an export emergency, set up a dedicated hotline for exporters, and maintain a PM’s dashboard to ensure tax refunds are paid within 30 days. The remarks came days after the Federal Board of Revenue recorded a Rs330 billion tax shortfall, despite paying 47% fewer refunds in December.
The planning minister warned that delays in releasing the development budget were hampering provincial and federal governments. During the first half of the fiscal year, only Rs210 billion—around 21% of the annual budget—was spent. He said spending would accelerate in the second half following further releases.
Iqbal said the committee would submit final recommendations next week. He argued that raising exports to $60 billion in four years, and $100 billion in a decade, was crucial to avoid returning to the IMF or seeking funds from friendly countries. Pakistan currently owes nearly $13 billion in short-term loans to such countries.
