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Minister for Planning, Development and Special Initiatives Ahsan Iqbal presiding a meeting in Islamabad on July 3, 2024. —Facebook@ahsaniqbal.pk
#Ahsan #urges #shift #exportled #economy #rapid #growth
LAHORE: Federal Minister for Planning, Development and Special steps, Ahsan Iqbal, highlighted the urgent need for the transfer of Pakistan to the economy on an export basis to achieve rapid economic growth.
Addressing the 10th Budget Summit organized by the University of Management and Technology (UMT) on Saturday, the Minister highlighted the important role of exports in ensuring sustainable development and reducing dependence on foreign aid.
Addressing a gathering of students, academics, and policy makers, Iqbal reflected Pakistan’s development journey from its inception in 1947.
He said that the country, which has started with very little resources, has achieved important milestones, including becoming a seventh nuclear power globally and developing an advanced Thunder jet of JF17.
“From the use of thorns as pins in offices to the construction of modern telecommunications with high mobile density, Pakistan has made significant progress,” he said. However, the minister warned that when the achievements were yellow over other countries.
In 1960, Pakistan’s manufacturing exports were compared to South Korea, Malaysia and Thailand, but today, Pakistan is significantly behind with exports of $ 32 billion, while South Korea has exceeded $ 600 billion. Similarly, despite the same level starting at the same level in 1980, Pakistan’s $ 1,600 revenue is worth $ 16,000 per capita.
Iqbal raised an important question: Why is Pakistan behind countries like Vietnam, Bangladesh and India, who have moved forward in exports and economic growth? He attributed the break to the lack of a favorable environment for development, identifying conflicts, instability and short -term economic policies.
“Successful countries prefer peace for at least a decade, ensure stability, and maintain policy continuity,” he said, citing examples like Singapore, Malaysia and China.
On the contrary, Pakistan has faced decades of instability, including involvement in external conflicts and internal challenges such as terrorism and political uncertainty.
Iqbal remarked, “We fought the wars of others from the Soviet conflict to the war on terror, which brought instability to our doorstep.” He emphasized that economic policies need at least 10 years to produce results, a continuous Pakistan has struggled to maintain.
Addressing the government’s “Uran Pakistan” move, the minister presented a roadmap to tackle these challenges. The main idea of this vision is transforming Pakistan into an export -led economy, with a target of $ 32 billion to increase from $ 100 billion to $ 100 billion within 8 to 10 years.
“If we get it, we can create pace to reach the next $ 100 billion in just 5 to 10 years,” he said, emphasizing the need for sustainable growth associated with foreign exchange reserves.
The Minister highlighted the capacity of e -commerce, which allows people to sell products globally from home, and demanded the restoration of Pakistan’s “rusty export engine”.
He also emphasized the importance of global technological changes, such as the fourth and fifth industrial revolutions, artificial intelligence, cloud computing, and the inclusion of biotechnology.
Iqbal described the recent steps as Pakistan in Techno Economy, including the establishment of artificial intelligence, major figures, cyberself, and the establishment of national centers for quantum computing.
These centers, which are affiliated with universities across the country, are promoting startups and industry -based research. “We are making university teachers a map for industry needs, which ensures economic growth,” he said. The Minister also focused on suppressing social and environmental issues.
He expressed concern over the proportion of 11 % of Pakistan’s higher education registration, while it is 30 % in India and 60 % in China and 25 million outside school.
He warned that “no country has progressed without 90 percent literacy.” They highlighted the malnutrition rate of 40 % of children, which affects the ability to develop academic development and innovation.
It also flagged Pakistan’s population growth rate. He explained, “If our economy grows up to 5 percent but the population is 2.5 percent, our actual growth is only 2.5 %.”
On climate change, Iqbal emphasized the need for smart agriculture and seasonal resistant seeds to secure energy saving and renewable energy as well as adopt energy -efficient and renewable energy to meet global carbon standards.
Considering the rule, the minister criticized the lack of deviation to the local governments after the 18th Amendment, which transferred the responsibilities to the provinces.
Referring to the District Education Index of the Ministry of Planning, he said, “The provinces have not empowered local governments, which is why decision -making in education and health care is weak.”
At the end of his speech, the minister urged the youth to get opportunities in digital skills, cloud computing, and quantum technologies.
He said, “Pakistan is not an ordinary country. It was founded on the vision of Allama Iqbal’s economic empowerment for Muslims,” he said, encouraging the young Pakistanis and said that they should work hard to understand their dreams and work hard.
He called for a national consensus to tackle education, health care, population growth, exports, technology, climate change and extremism. He confirmed, “If the nation is united and pushed together, Pakistan will increase to new heights.” He later participated in the group discussion.
