Iqbal unveils $3tr economic vision

Federal Minister for Planning and Development Ahsan Iqbal said on Saturday that the defence agreement between Pakistan and Saudi Arabia was an important milestone, warmly welcomed across society, but stressed that lasting national security depended on economic strength.

Speaking to the media after chairing the first meeting of Members of the Federation of Engineering Institutions of Pakistan, he said Pakistan gained more recognition and respect globally after the Marka-e-Haq (battle of truth). "We have to move forward keeping in mind future plans and challenges," he said.

He noted that CPEC Phase-II was formally launched during Prime Minister Shehbaz Sharif's recent visit to China. The next JCC meeting is scheduled for September 26 in Beijing, which he will attend. The minister said defence success could not last unless supported by a strong economy. "I believe the success of the Udaan Pakistan Project depends on the cooperation and role of engineers," he remarked.

He stressed that Pakistan's exports would rise through innovative production, industrial capacity, and modern technology. A stronger export economy, he said, required robust infrastructure, and engineers must deliver it. He added that engineers also played a central role in building a technology-based economy under e-Pakistan and in ensuring water and food security. He hoped the Federation of Engineers would play a vital role in climate action. Iqbal said Pakistan could not reverse climate change but could build resilience by reconstructing stronger infrastructure. "Hydraulic studies should be done to see how Pakistan's water flows work and how floods can be avoided," he suggested.

He linked high energy costs to circular debt created by inefficiencies and leakages. Engineers, he said, could fix these problems and help close a financial black hole consuming billions of rupees. "We can spend this money on education, health, and infrastructure in underdeveloped areas," he argued.

Highlighting the global reliance on technology, he said engineers made it useful for human development. The planning ministry, he assured, would act as a bridge between government and the engineering profession. He invited skilled professionals at home and abroad to join Udaan Pakistan, a programme aligned with the aspirations of 240 million people.

He outlined two economic goals: to reach a $1 trillion economy by 2035 and $3 trillion by 2047. Pakistan's young population, nearly 60% of the total, was central to economic planning. A national convention would soon be held with universities to launch the Pakistan 2047 Lab, he said. "Where Pakistan will be in 2047 should be identified by the young generation in whose hands the country will run," he added. The Lab, part of Udaan Pakistan, would be inaugurated soon, with young professionals taking lead responsibility.

Referring to his recent visit to China, Iqbal said the private sector had signed agreements worth $8.5 billion, as 1,000 Pakistani and Chinese businesses had committed to joint ventures. "But if we do not provide a favourable environment, these investments will not produce results. If we allow chaos and unrest, which investor will come to Pakistan?" he warned.

He welcomed institutional unity in supporting national security and stability, saying economic development required peace. "It is equally important that we do not allow anyone to create chaos and uncertainty so that the seeds of development being sown can grow, bear fruit, and build a better future for the people of Pakistan," he said.

Congratulating the engineering community on forming the Federation of Pakistani Engineering Institutions, Iqbal hoped it would become the country's most powerful think tank. He said it could guide the government on development challenges by harnessing engineering manpower and talent.

The meeting was attended by a large number of engineers from across the country, including Engineer Amir Zameer Ahmed Khan, Engineer Muhammad Usman Farooq, Engineer Tahir Basharat Cheema, Engineer Sarosh Hashmat Lodhi, and Engineer Qasim Qureshi.