ISLAMABAD: The National Priority Sectors Export Strategies (NPSES), which focuses on 10 priority sectors to achieve development in exports, was unveiled by the Ministry of Commerce on Friday.
The plan is a component of the Strategy Trade Policy Framework 2020–25, which was approved in November of last year. It designated 18 priority industries and provided instructions for creating sector-specific policy measures to encourage exports in each of those sectors.
10 of the 18 STPF priority sectors—including engineering products, leather, processed foods and drinks, fruits and vegetables, meats and poultry, medicines, software development & services, business process outsource, logistics, and institutional coordination—are the focus of the NPSES.
The Trade Development Authority of Pakistan (TDAP), under the direction of which the individual export policies are created, works closely with industry leaders. The NPSES aspires to utilise Pakistan’s enormous untapped talent for trade and investment development in order to create and sustain a new cycle of economic growth for Pakistan.
According to the documents, the NPSES aims to boost the competitiveness of both emerging and established export sectors.In order to boost trade’s contribution to economic development, it recognises that changes must be made and puts forth a prioritised five-year action-oriented framework.
