Federal Minister for Planning, Development and Special Initiatives Prof. Ahsan Iqbal on Saturday said that international institutions are now recognizing Pakistan’s economic turnaround, a remarkable change from the severe crisis the country faced two years ago.
Speaking at a ceremony titled Marka-e-Haq and 78 Years of Independence Day Celebrations – Uraan Pakistan at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), the minister described tax reforms, an export-led economy, and foreign direct investment as the three pillars of sustainable economic stability.
“We have to move forward to an export-led economy,” he said, addressing the business community. “I have come here to offer you,” he added, urging traders and industrialists to stand shoulder to shoulder with the government despite challenges.
The minister underlined that exports under the Uraan Pakistan vision are vital for long-term stability. Calling Karachi the “heart of industry and economy,” he acknowledged FPCCI’s role in representing the business community, whom he termed as the “economic drivers” of the country. “The source of a stable economy is the private sector,” he stressed, adding that Pakistan could achieve macroeconomic stability through exports.
Iqbal said Pakistanis pay the lowest taxes and remarked that the country was now ready to fly under Uraan Pakistan. “This time it will be Pakistan’s fourth fly (Uraan),” he said, noting that the previous three attempts had crashed. The success of the current initiative, he added, depends on learning lessons from the past.
He called on the government and private sector to jointly target $100 billion in exports under an ‘export emergency,’ focusing on eight priority sectors: hospitality, IT, mining, manpower, the blue economy, and the creative industry, among others. To this end, he asked FPCCI to form eight working groups in coordination with the government and immediately begin work.
State Minister for Religious Affairs and Interfaith Harmony Kheal Das Kohistani also spoke at the event, emphasizing the vital role of the business community. He said Prime Minister Shahbaz Sharif had taken difficult decisions for the country’s development and prosperity. “Pakistan is in a good position in terms of economy,” he said, adding that the shared aim was to make the country prosper.
FPCCI President Atif Ikram Shaikh noted that positive reports from international institutions had boosted confidence in the economy. “The country is moving towards economic stability,” he said, stressing the need for joint efforts by government and private sector to build an export-led economy. He added that new avenues would open under the Public-Private Partnership (PPP) mode.
Senior Vice President of FPCCI Saqib Fayaz, veteran industrialist Bashir Jan Mohammed, and others also addressed the gathering.
