Iqbal links progress to export-based economy

Planning Minister Professor Ahsan Iqbal, while addressing the 36th Senior Management Course officers on Saturday, highlighted the importance of prioritising country's development and modernizing civil service.

He said lack of export-based economy has hindered the country's progress over the past 77 years, resulting in an imbalance in exports and imports. He noted that the government was working to promote exports under the "5Es Framework.

"He stressed the need to modernise the system, highlighting that every government official was working hard in their place, however there was need to modernize the system.

He said the motorways and metro buses were also essential components of any country's basic infrastructure, adding that developed countries do not compromise on connectivity.

The minister said that the development budget has decreased from 12-14 percent to 4 percent. He said the Hyderabad-Sukkur Motorway is a government priority while public-private partnerships are also being encouraged in development projects.

Iqbal emphasised the importance of political stability for economic growth, stating that economic development and political stability were deeply connected.

Political stability boosts investors' and businessmen's confidence, essential for a strong economy. Without stability, government policies and development projects often face delays or discontinuity, impacting the country's economic growth.

A stable political environment promotes domestic and international investment, creating job opportunities and strengthens economy, he added.