ISLAMABAD: Minister for Planning, Development and Special Initiatives, Professor Ahsan Iqbal on Friday emphasized the importance of establishing a balance between available resources and emerging needs to ensure sustainable economic growth and social prosperity in the country.
Speaking at the closing ceremony of the “Poverty Estimation Training Series,” the minister highlighted that access to scientifically based data is essential for the effective and fair allocation of dwindling resources, which is crucial for achieving equitable socio-economic development and progress.
The minister emphasized that the rapidly growing population and rapidly decreasing resources were key drivers of poverty, illiteracy and major obstacles to economic growth and social prosperity. He further pointed out that between 2017 and 2023, in addition to economic setbacks, the population growth rate also experienced a significant rise.
Highlighting the economic performance of the incumbent government, the minister said that inflation rate in the country came down from 38 percent to less then 7 percent, exports recorded growth, remittances increased and Stock Market touched the historic high mark and 100 Index crossed 100,000 points.
These economic indicators were showing that the economy was heading towards right direction, which was the direction of progress and prosperity, he said adding that for achieving this milestone, the collation government had burnt its political capital and the nation bear the burden of rising inflation.
The minister stressed the need for promoting the tax compliance culture in the country to create more resources for the development and asked to enhance the national industrial productivity to compete with global competitors, besides political stability to attract more foreign and domestic investment.
Ahsan Iqbal called for an end to political unrest and the initiation of an economic long march, aimed at fostering competition in national productivity enhancement and taking practical steps for eradicating illiteracy, poverty and ignorance from the country.
