LAHORE: Minister for Planning, Development and Special Initiatives Ahsan Iqbal has said that after the success of the ‘Marka-e-Haq’, Pakistan must now win the ‘Marka-e-Maeeshat’ (the battle for a strong economy), as strong defence cannot be sustained without strengthening our economy.
He made these remarks while addressing a meeting during his visit to the Lahore Chamber of Commerce and Industry (LCCI). He said that if Pakistan focuses on exports, industrial growth and economic reforms over the next decade, the country could emerge as one of the world’s leading economies.
He added that Pakistan’s recent diplomatic and defence achievements had improved the country’s global image, and the same spirit must now be demonstrated in the economic sphere. Exports, he said, are the only sustainable path to economic development.
Iqbal said the success in the ‘Battle of Truth’ had placed a responsibility on the entire nation to strengthen the economy, adding that history had shown weak economies could not sustain strong defence systems. He said the government was working with the private sector to promote exports, industrial growth and expansion of the tax net.
He added that the target of achieving $100 billion in exports by 2035 was as important for Pakistan as attaining nuclear capability once had been. He also stressed the importance of value addition, export diversification and participation in global supply chains.
The minister said expensive electricity, high interest rates, multiple taxes and complex regulations were creating serious difficulties for industries. He added that the current regional situation, supply chain disruptions and uncertainty had further increased business costs.
In his address, LCCI President Faheemur Rehman Saigol praised the Ministry of Planning’s ‘Uraan Pakistan 2024-2029’ programme, saying its targets related to exports, the digital economy, infrastructure, energy, environment and social development were encouraging.
He emphasised the need for skills development, stronger links between industry and educational institutions, and the promotion of international language programmes. Saigol also stressed the need to improve logistics and trade infrastructure, enhance national shipping capacity and improve air connectivity with Gwadar.
He said limited flights between Lahore and Gwadar were creating difficulties for investors from Punjab.
