Former caretaker federal minister and chairman of the Economic Policy & Business Development, Gohar Ejaz, has issued a stark warning that Pakistan has lost its export momentum. He alleges that the government has failed to sustain the export-led growth achieved in fiscal year 2023-24 and has missed its own target of increasing exports by 10 percent annually.
Export Figures and Missed Targets
In a statement, Ejaz highlighted that Pakistan’s exports stood at $30.9 billion in FY2023-24 after meeting the government’s annual 10 percent growth target. However, he claimed that exports had fallen to around $30 billion by June 30, 2026, marking a decline of $800 million compared to two years earlier. He emphasized that the country had squandered an opportunity to add nearly $8 billion to exports over the past two years due to the failure to maintain double-digit export growth.
Trade Deficit Worsens
“Pakistan’s exports have become stagnant while the trade deficit continues to widen,” Ejaz said. He added that if exports had continued growing by 10 percent annually, they would have reached approximately $38 billion by now. The former minister further claimed that exports declined by 7 percent in 2026, while the country’s trade deficit climbed to a historic high, reflecting a weakening external sector performance.
Call for Immediate Policy Intervention
Calling for urgent policy measures, Ejaz urged the government to “open its eyes before it is too late.” He warned that the export growth momentum built in 2023 had come to a halt and that the country could not afford further delays in adopting an export-led growth strategy. His remarks come amid ongoing concerns about Pakistan’s economic stability and the need for sustained export expansion to improve the balance of payments.
