Ahsan Iqbal stresses export-led growth, national unity for Pakistan’s economic revival

• Planning minister says unity, discipline and stability key to economic self-reliance

• Calls export-led growth the only guarantee of economic sovereignty and sustainable development

• Sets ambitious target of $100bn exports by 2030, $400bn in the long term

• Warns political instability and anti-business bureaucracy remain major hurdles to economic transformation

 LAHORE: Ahsan Iqbal on Saturday said Pakistan could achieve economic self-reliance and sustainable development through national unity, discipline, political stability and an export-led economy, drawing parallels with the unity and resolve demonstrated by the nation and armed forces during “Marka-e-Haq” on May 10, 2025.

Addressing the South Asian Federation of Accountants (SAFA) International Future of Finance Summit 2026 at a local hotel in Lahore, the minister said Pakistan had weathered numerous challenges and many around the world had assumed that economic hardships had weakened the country’s resolve.

However, he said, the nation proved its resilience when India launched aggression against Pakistan last year, responding with unity and determination.

Ahsan Iqbal said Pakistan’s armed forces demonstrated extraordinary professionalism through an integrated multi-domain strategy, marked by close coordination among all three military services alongside civil and military leadership, during the “Marka-e-Haq.”

Paying tribute to the martyrs who sacrificed their lives during the operation, he said their sacrifices had elevated Pakistan’s stature on the global stage.

Highlighting the discipline of the armed forces, the minister said military officers immediately complied with transfer orders and reported to difficult areas without hesitation, a level of discipline he said was often lacking in civilian institutions.

He stressed the need to cultivate a mission-oriented work culture in the civilian sector as well, saying discipline and commitment were critical to national progress.

Recalling his visit to the family of a martyred soldier, Ahsan Iqbal said the soldier’s mother had proudly told him not to offer condolences but congratulations because her son had embraced martyrdom for the country. He said such spirit of sacrifice and dedication was equally essential for economic development.

The minister expressed confidence that Pakistan could transform itself within the next decade if all segments of society collectively placed national interests above personal gains.

Citing global examples, he said countries such as China and Vietnam achieved extraordinary economic growth through policy continuity, exports, foreign investment and industrial development.

He noted that while Pakistan and Vietnam had almost equal export volumes around the year 2000, Vietnam’s exports had now crossed 480 billion dollars, whereas Pakistan’s exports remained around 40 billion dollars.

Sharing the success story of VinGroup, the minister said the company had grown from a small business into a multi-billion-dollar conglomerate through innovation, investment and commitment to national development.

He stressed that Pakistan needed to replicate such success stories to accelerate economic growth.

Criticising bureaucratic hurdles, Ahsan Iqbal said Pakistan’s administrative structure often functioned as “anti-business” rather than “pro-business,” discouraging investment and industrial expansion.

He emphasised that exports were the only guarantee of economic sovereignty, pointing out that overseas Pakistanis were sending around 44 billion dollars in annual remittances, while the country’s exports stood at nearly 40 billion dollars despite a population of 240 million.

The minister said Pakistan must increase its exports to 400 billion dollars in the long term and at least 100 billion dollars by 2030, describing it as a national mission as important as achieving nuclear capability for defence.

He said Pakistan had yet to develop a true export culture and underscored the need for value addition, branding, packaging and compliance with international standards.

Highlighting the export potential of local industries, he referred to Sialkot’s cutlery, Gujranwala’s fans, as well as mangoes, dates, chillies, handicrafts and livestock products as areas of significant economic promise.

He also underscored the importance of peace, political stability and policy continuity, saying no country could progress in an environment of political uncertainty.

Referring to the China-Pakistan Economic Corridor (CPEC), the minister regretted that opportunities created under the initiative had been politicised despite strong Chinese interest in Pakistan.

Calling for long-term commitment and reforms, Ahsan Iqbal said Pakistan needed a sustained struggle of 10 to 15 years for economic revival instead of relying on shortcuts.

He concluded by saying the future belonged to the private sector, while the government’s role was to facilitate, empower and encourage businesses, urging all stakeholders to work collectively for Pakistan’s prosperity and economic independence.