Govt aims to create conducive environment

Wants to transform country into innovation and investment hub

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KARACHI:

Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal has said that the government is committed to ensuring economic stability and fostering a predictable policy environment for investors.

"Through initiatives like Uraan Pakistan, we aim to unlock the country's potential and transform it into a hub for innovation and investment," he said.

Iqbal made the remarks while paying a visit to the Overseas Investors Chamber of Commerce and Industry (OICCI) on Thursday for an interactive session with foreign investors and business leaders. The session focused on the government's initiatives aimed at economic stabilisation and enabling a business environment conducive for Pakistan.

Iqbal provided an overview of the government's economic agenda, highlighting Uraan Pakistan – the 5Es national economic transformation plan. He reaffirmed the commitment to reforms aimed at addressing investor challenges and fostering sustainable growth.

"In the past, three Uraan programmes flopped due to political failure and an unsustainable policy. Now, we have decided to ensure a sustainable policy for the next five years. A roadmap for development has been set out and a working group has been formed including the private sector," he said.

He noted that the first pillar of the Uraan Pakistan programme belonged to export-based progress.

All three main pillars of the country are in agreement that political stability is crucial for development and are united in their commitment to avoiding political ventures. An export target of $60 billion has been set with 100% growth over the next five years.

Regarding blue economy, Iqbal said a comprehensive plan had been devised to discover and explore underwater oil and gas deposits. As per the plan, foreign companies will be approached and investments will be made.

Speaking on the occasion, OICCI President Yousaf Hussain said, "Focus on structural reforms and economic revival is a positive step forward. We remain optimistic and look forward to continuing collaboration to further strengthen Pakistan's position as an investment destination."

OICCI Secretary-General M Abdul Aleem acknowledged the progress made and stressed the importance of policy continuity to maintain investor confidence.

"While the initiatives being undertaken by the government are commendable, it is crucial to ensure policy consistency. We urge the government to actively engage with key stakeholders like OICCI members to maximise the impact of these initiatives," he said.

Aleem added that foreign investors also shared their perspectives on navigating challenges in Pakistan and provided recommendations to enhance ease of doing business. The dialogue reinforced the need for constructive engagement between the government and the private sector to build a sustainable economic future.