KARACHI, Apr 14 (APP): The Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal, Monday termed the significant improvements and hard-earned stability of national economy as an opportunity for creating collaborative efforts to maintain the momentum, tap the real potential and achieve the goals of sustainable growth.
The minister, while addressing the leadership of the business community and later responding to media queries during his visit to Karachi Chamber of Commerce and Industry (KCCI), highlighted the key features of Uran Pakistan program and said that it is the vision of sustainable development and prosperity of Pakistan.
Ahsan Iqbal underscored that peace and harmony, political stability, continuity of the policies, and cohesive reforms and adaptability are four basic elements of a sustainable growth ecosystem. Pakistan, with its diverse national resources, has the potential to transform itself into a trillion dollar economy but we need commitment to these four elements as it is the
path that leads the nation to glory, he maintained.
The Planning minister said that Uran Pakistan program is the development footprint for the entire nation and the planning ministry has started working on its implementation agenda identifying 8 areas for special focus including agriculture, industry, services, IT, mining, manpower export, blue economy and creative industries. He also sought feedback and viable proposals from trade bodies in the regard.
The inflation and the policy rate have witnessed significant decline during the year while the government recently reduced the electricity tariff by around Rs 7, the minister said and hinted that further economic stability may enable more reduction in the tariff and it would further ease the production cost as well as cost of doing business.
For taking ourselves out of the “Boom and Bust” cycle, he stressed, we need to embed sustainable growth with exports and build up foreign reserves, he said adding that the government and private sector have to work hand in hand to make Pakistan an exporting nation and establish the brand “Made in Pakistan”.
Referring to $ 4 billion record inflows of workers’ remittances, the minister said that Pakistan can enhance workers’ remittances to $ 50 billion within two or three years by imparting youth with skill and professional training as per global market requirements.
We need to become a one trillion economy by 2035 and only agility could help us to utilize our potential to the fullest and achieve the status of top economies of Asia, he maintained adding that at this juncture of time we need an economic long march on emergency basis rather than a political long march.
The government, establishment, judiciary and politicians have to work together for peace, stability and continuity of policy and safeguard the economic reforms while the business community is also expected to join our hands for economic revitalization, Ahsan Iqbal said.
Pakistan Muslim League (N), in its each tenure presented revolutionary agendas for development and prosperity of the nation and Pakistan has achieved macro economic stability due to the untiring efforts of PM Shehbaz Sharif led PML-N government and now it is time for a take off.
Karachi is not only the financial capital of the country but it is the epicenter of resilience and hub of capital, industrial, export, trade and enterprise activities, Ahsan Iqbal emphasized adding that the business community of Karachi has to take the lead in Uran Pakistan program as Karachi is the runway from where Pakistan can take off.
The minister proposed to establish the Uran Pakistan Business council having representation of trade associations and chambers to monitor the ongoing economic reforms and assist in exploring new avenues.
Businesses need to focus on continuous growth through sustained production, quality, compliance and innovation and chambers should enhance their collaboration with academia and contribute by capacity building of their members in international certifications, carbon footprint and other emerging concepts.
The chairman Businessman Group Zubair Motiwala, lauded Uran Pakistan Program and also praised Prime Minister Shehbaz Sharif’s keen interest in economic development and resolution of challenges faced by the business community and hoped that implementation on 5-Es of Uran Pakistan will lead Pakistan to development and prosperity.
He stressed on swift measures for export expansion, lowering cost of doing business and manufacturing cost, minimizing intervention of a number of government departments, organizations and agencies in the business and trade.
President KCCI Muhammad Jawed Bilwani, underscoring the importance of the blue economy, stressed that efficient port services and infrastructure and peace and stability are vital for facilitating export growth and taking benefits from the blue economy.
He also appreciated the government’s measures for economic stability, particularly the remarkable reduction in the policy rate and said that the government has fulfilled the promise of slashing down the electricity tariff.