ISLAMABAD: Minister for Planning, Development and Special Initiatives Ahsan Iqbal on Thursday emphasized that innovation and industrial productivity are essential for sustainable economic growth.
Addressing the 17th All Pakistan Chambers Presidents Conference, he called for urgent measures to strengthen Pakistan’s export sector, noting the high quality of Pakistani products despite low export volumes.
“The individuals who generate foreign exchange are the true earning power of Pakistan’s economy,” he said.
The minister underscored the need to equip chambers of commerce with training programs to expand export capabilities. He added that global market access for Pakistani businesses depends on technological advancement, citing innovation as central to modern competition.
“To stay competitive, we must reinforce our academic institutions and align them with industry needs to achieve economic development in line with our national income,” Iqbal said.
He stressed the importance of tax compliance, warning that citizens must pay taxes to achieve higher living standards. Highlighting the burden of debt repayment on national income, he called for action against tax evasion to protect honest taxpayers.
The minister assured the business community that the chambers’ recommendations would be conveyed to the prime minister and reaffirmed the government’s commitment to fostering a private sector-friendly environment.
He also praised Pakistan’s recent accomplishments, including its victory during Marka-e-Haq, and described the country as peace-loving with a resilient and self-reliant population.
