Two councils formed to boost exports

In a strategic move to boost the country’s exports, the Ministry of Commerce has established two powerful export advisory councils to devise a strategy for the promotion of textile and non-textile products. The councils will be tasked with developing sector-specific strategies to increase export volumes, according to two notifications issued by the commerce ministry on Wednesday. These councils are set to formulate policy guidelines within an eight-week time frame. These guidelines will then be presented to the Special Investment Facilitation Council (SIFC) for approval. This initiative is a key component of the overarching strategy aimed at achieving the ambitious export target of $100 billion. The chairperson or convenor has the discretion to include any additional individuals from the public or private sector, as needed. The advisory councils are also tasked with advising the Ministry of Commerce on issues impacting textile and non-textile exports. The ministry will offer administrative support to these councils, which will meet every month, or more frequently if necessary, under the chairmanship of the commerce minister.