Exports vital for sustainable economic growth: Saif ur Rehman

LAHORE, Nov 01 (APP):Coordinator to the Federal Tax Ombudsman (FTO) Saif ur Rehman on Sunday stressed the need to prioritize export growth to enhance national productivity, generate employment opportunities, and achieve sustainable economic development. According to a spokesperson, addressing a seminar titled 'Pakistan Export Initiative' here, he stated that increased exports expose domestic businesses to international competition, improved management practices, global quality standards, supply chains, and modern technologies, thereby boosting overall economic productivity. He pointed out that while both exports and remittances play a vital role in containing the current account deficit, exports make a far greater contribution to long-term economic growth. He explained that exports generate direct employment across agricultural, industrial, and services sectors, while stimulating indirect economic activity through increased household spending. Saif ur Rehman maintained that prioritizing sustained export growth would create jobs domestically and reduce the need for unemployed youth to seek hazardous overseas employment opportunities. He argued that exports deserve greater policy priority than remittances, as their impact on strengthening domestic production, productivity, and sustainable foreign exchange earnings is more substantial. The FTO Coordinator added that prudent and consistent economic policies, free from recurring financial crises, could help Pakistan significantly increase its exports as a proportion of Gross Domestic Product (GDP).