ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday stressed the need for balance across all economic policies to revive Pakistan鈥檚 export potential, saying his government wanted to take the country back to a place where its products were once again in global demand.
The remarks came during a meeting with Dr. Stefan Dercon, a prominent British economist and professor of economic policy at Oxford University.
Dercon, who previously served as the UK Department for International Development鈥檚 (DFID) chief economist, is widely recognized for his work on poverty, institutional reform and economic development in low- and middle-income countries.
鈥淎 sound balance across all policies is essential to promote business,鈥� the prime minister was quoted as saying in an official statement circulated by his office. 鈥淔or Pakistan鈥檚 economic development, alignment between fiscal policy, taxation policy and production policy is necessary.鈥�
鈥淚n the past, Pakistani products were in high demand globally and the country was counted among the world鈥檚 major exporters,鈥� he continued. 鈥淲e want to bring Pakistan back to that place.鈥�
Sharif鈥檚 meeting with the British economist took place at a time when Pakistan seeks to strengthen its economy through increased exports and foreign investment, following signs of stabilization under an IMF-supported economic program.
He maintained that deep-rooted reforms were required to transition the national economy back toward export-led growth.
Dercon praised the direction of Pakistan鈥檚 economic policy and reform agenda, noting improving investor sentiment toward the country.
He particularly lauded Pakistan鈥檚 tariff rationalization efforts, which aim to simplify and streamline import duties to support industrial competitiveness.
The meeting was also attended by top members of the government鈥檚 economic team, including Finance Minister Muhammad Aurangzeb, Planning Minister Ahsan Iqbal and senior officials from relevant departments.