Ahsan Iqbal, Minister for Planning and Development, said that the government was fully committed to implementing judicial and socioeconomic changes that would speed up Pakistan’s economic growth. In his Sunday TV speech, he made it clear that the country’s peace and security would not be threatened in any way.
Because Iqbal didn’t like the way the Pakistan Tehreek-e-Insaf (PTI) party was running its campaign, he told the opposition to work with the government instead of protesting in the streets.
Iqbal talked about how friendly countries have promised to spend a huge $27 billion in Pakistan over the next five years, pointing out the country’s bright economic future. Saudi Arabia has promised to spend $5 billion, the UAE and Kuwait will each give $10 billion, and Azerbaijan has promised to give $2 billion.
“These are opportunities from outside our country, and we must take advantage of them through consistent policies and reforms,” Iqbal said. He also stressed how important it was to keep things stable and consistent to make the most of these financial flows.
China’s Promise and the Growth of CPEC
Iqbal also said that China was ready to start the second part of the China-Pakistan Economic Corridor (CPEC). He said that China has promised to build five new routes that will focus on growth, livelihood, innovation, the green economy, and inclusive regional development. This shows that the two countries are serious about working together on their economies.
A Danish company has also said it will invest $2 billion in Pakistan’s port infrastructure. This shows that more and more countries around the world are interested in the country’s key sectors. However, Iqbal was worried that the PTI’s actions were making it harder for these big investments to happen. He brought up the party’s past efforts to break the IMF agreement as an example.
Reforms to the courts and economic growth
Iqbal also said that judicial changes were needed right away to make things better for foreign investors. He said that the recent improvements in the economy were due to the hard work of the current government. For example, the Pakistan Stock Exchange reached an all-time high of 80,000 points, which showed that investors had more faith in the economy.
Iqbal also said that Pakistan’s credit rating has been raised by foreign agencies and that inflation has dropped to less than 10 per cent. The latest policy rate cut by the State Bank of Pakistan is expected to boost business across the country and keep the economy going in a good direction.
The Minister ended by saying again that the government is still committed to its goal of transforming the economy, building foreign partnerships, and making sure that Pakistan has a stable and prosperous future.