LAHORE- Prime Minister Muhammad Nawaz Sharif has emphasized to expand and diversify the national exports for rapid economic growth.

He was addressing the inaugural ceremony of a three-day Pakistan Auto Show 2014 today.

The Prime Minister said that over 76 percent exports were restricted to only twenty countries.

Nawaz Sharif said the government is preparing a plan for maximum utilization of GSP Plus status given to Pakistan by the European Union.

He said GSP Plus status will provide market access to ninety percent of country's products to the EU markets‚ enhancing our trade with European Union by 1.5 billion dollars.

He said a number of new power projects costing over thirty-two billion dollars are being carried out. He said the completion of these projects will help in solving the energy crisis.

The Prime Minister said the award of GSP Plus status by the European Union (EU) is an achievement of the PML-N government, adding that the facility would provide access to 90 percent of the Pakistani products to the EU market at zero tariffs.

Nawaz said the volume of Pakistani exports will reach 1.5 million dollars during the fiscal year 2014-15, saying the government has been working on a comprehensive strategy to expand the exports network.