Federal Minister for Planning and Development, Ahsan Iqbal, said on Monday that Pakistan is on a path to becoming a trillion-dollar economy by 2035.
Speaking during a press briefing to release the Monthly Development Update Report, Iqbal emphasized that reforms across multiple sectors, including tax administration, technology adoption, and the promotion of digital systems, are helping improve transparency and control tax evasion.
Addressing perceptions of corruption, he noted that while a general belief suggested widespread bribery among 65 percent of people, recent surveys indicate the actual rate is closer to 27 percent.
Some people criticize why the government is dreaming this dream, he said, adding that previous political mismanagement had plunged the country into economic depression. He emphasized that international organizations, including the IMF, World Bank, and ADB, as well as global rating agencies, are now praising Pakistan’s economic progress.
The minister stressed the importance of positive thinking to attract global investors, pointing to encouraging macroeconomic indicators. He said that average inflation has fallen from 6.5 percent to 5.2 percent in seven months, tax revenue has increased to Rs. 7.2 trillion, exports rose by 3.7 percent in January to $3.1 billion, and remittances grew by 10.5 percent in six months to reach $19.7 billion from $17.8 billion.
Development spending under the Public Sector Development Program (PSDP) has also increased, with Rs. 272.8 billion spent so far, up 27 percent from Rs. 220 billion in the same period last year. These projects are expected to generate 73,000 new employment opportunities, while the Ministry has saved Rs. 5.5 billion through efficient management.
The minister highlighted social initiatives, including the National Mother and Child Care Conference, which aims to address the 40 percent child stunting rate among Pakistan’s 40 million children under five.
Iqbal said the scope of relief for the Holy Month of Ramazan has been expanded to 1.7 million families, with measures in place to prevent profiteering. He also added that the industrial sector is showing promising growth at six percent.
