Traders’ union president, two customs officials kidnapped in Pakistan’s northwest

ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday directed his economic team to devise an effective strategy to enhance Pakistan’s exports to $60 billion in five years, a statement from his office said as Islamabad looks for ways to tackle its macroeconomic crisis. 

Pakistan’s government in December 2024 launched a five-year national plan to escape a prolonged economic crisis that has drained the country of its financial resources and brought it to the brink of a sovereign default in 2023. 

The five-year National Economic Plan seeks to ensure sustainable development that hinges mainly on export-oriented growth. 

Sharif chaired a meeting of his economic team in Pakistan’s capital on Thursday to review measures to increase the country’s exports, a statement from the Prime Minister’s Office (PMO) said. 

“The prime minister gave directives to formulate a comprehensive and effective strategy to take the country’s exports to $60 billion in the next five years,” his office said. 

It said Sharif called for sustainable reforms in Pakistan’s tariff system to ensure its exports become competitive in the international market. 

He called on the government to pay special attention to the services, IT and agriculture sectors to increase exports.

Sharif was briefed by his team about the ongoing reforms within Pakistan’s commerce ministry and the strategies in place to enhance exports to 60 billion dollars in the next five years, his office said. 
Sharif was also told that the commerce ministry hosts international exhibitions in Pakistan annually to promote exports.

DUBAI: The International Cricket Council on Thursday fined Pakistan five percent of their players’ match fee for a slow over-rate in the Champions Trophy defeat to New Zealand in Karachi.

New Zealand smashed 320-5 in their 50 overs with Pakistan bowled out for 260 in 47. 5 overs, losing by 60 runs on Wednesday.
“Pakistan have been fined five percent of their match fee for maintaining a slow over-rate against New Zealand,” said an ICC statement.

Andy Pycroft of the ICC Elite Panel of Match Referees imposed the sanction after Mohammad Rizwan’s side was ruled to be one over short of the target after time allowances were taken into consideration.

Rizwan pleaded guilty to the offense and accepted the proposed sanction, so there was no need for a formal hearing, the ICC said.
“On-field umpires Richard Kettleborough and Sharfuddoula, third umpire Joel Wilson and fourth umpire Alex Wharf levelled the charge,” the ICC added.

Pakistan now face arch rivals India in Dubai in a must win game on Sunday to keep their semifinal hopes alive from Group A.
Bangladesh are the other team in the group while Australia, England, South Africa and Afghanistan are in Group B.

The top two teams from each group will qualify for the semifinals.

The Champions Trophy runs until March 9 in Pakistan and the United Arab Emirates.