LAHORE: Federal Minister for Planning, Development and Special Initiative Ahsan Iqbal has emphasized that increasing exports is the only way for Pakistan to achieve economic growth.
Addressing the 28th International Textile Expo Asia 2024 organized by Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) at Expo Center Lahore on Saturday, he said that Pakistan has huge resources and potential but there is need to focus on productivity, quality and innovation to increase competitiveness, profitability and economic development.
The planning minister said around 550 companies from seven countries participated in the fair, adding that fairs and exhibitions like this are a tool to promote exports of any country.
He said that increasing exports is essential for economic development as it will not only strengthen the Pakistani rupee but also contribute to national prosperity.
He argued that increasing exports is essential for Pakistan to avoid the burden and improve the economic situation.
Ahsan Iqbal criticized the opposition for focusing on protests rather than offering constructive solutions to the country’s problems.
He stressed the need for unity among all stakeholders to overcome political differences and make progress.
Responding to the current economic woes, he described the International Monetary Fund (IMF) program as a temporary solution, calling it a “bitter pill” that Pakistan must eventually move beyond.
He emphasized that export growth should be the top priority of the government and emphasized its importance for a stable economy.
Emphasizing the importance of trade fairs in promoting exports, the Planning Minister highlighted the government’s commitment to showcase ‘Made in Pakistan’ products across the world.
It has set an ambitious target of increasing exports to more than $100 billion and surpassing India by 2047.
He emphasized that the strengthening of foreign exchange reserves would stabilize the Pakistani rupee and contribute to national economic stability.
When asked about electricity, he outlined the background of the problem and the government’s efforts to solve it.
He explained that when the PML-N government came to power, it faced a severe power shortage with up to 20 hours of load shedding.
In response, the government worked with China to set up eight thousand megawatts of power projects, in addition to three thousand megawatts funded domestically.
Addressing fears of political instability, Ahsan Iqbal emphasized that now is not the time for protests.
He called for dialogue and cooperation among experts to find solutions to current problems and warned that political demonstrations could deter potential investors.
He urged opposition leaders to engage in discussions with government experts to constructively address the country’s problems.
He emphasized the need for unity and joint efforts in overcoming Pakistan’s economic problems.
He called on all stakeholders to put aside differences and focus on strengthening the national economy through boosting exports and effectively solving problems.
