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$3tr economy possible by 2047: Ahsan Iqbal
Federal Planning and Reforms Minister Ahsan Iqbal stated on Tuesday that Pakistan aims to achieve a $3 trillion economy by 2047. He emphasized the need for increased public-private collaboration and a streamlined regulatory framework. “Pakistan is targeting a 9% growth rate to realize this goal,” he said, emphasizing the current favorable climate for international investment, with significant commitments from China and Saudi Arabia.
Iqbal, while addressing the Business Leaders Summit in Islamabad 2024, emphasized the important role of public-private sector collaboration in driving economic growth. He supports the development of a comprehensive ecosystem in business clusters to optimize the value chain and promote sustainable value addition. In line with successful models from Japan, Korea, Singapore, and Malaysia, he emphasized the need for trading houses to facilitate the integration of the global market of local products.
Underlining the importance of improving business competitiveness on a global scale, the minister announced upcoming measures aimed at reducing the regulatory burden on the private sector.
