ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal has emphasised that Pakistan’s economic future depends on a shift towards private sector-led growth and a nationwide focus on skill development.

Speaking at a global convocation, he said that Pakistan must prepare its workforce to meet the demands of a changing global economy and that the private sector must play a central role in driving investment, business expansion and economic progress.

The minister said that no country has achieved sustained growth without the active involvement of the private sector and a skilled workforce.

He said that Pakistan’s economic challenges require a fresh approach where the government facilitates businesses, encourages investment and equips young professionals with modern skills.

He pointed out that while Pakistan has immense potential, it needs structured reforms in education and industry to compete with economies such as Malaysia, Thailand, and India.

Ahsan Iqbal highlighted that Pakistan is on the brink of a breakthrough in tourism and hospitality, with its landscapes and heritage sites gaining global recognition.

He said that despite progress, Pakistan has yet to fully capitalise on this potential due to gaps in infrastructure and skilled human resources.

He said that Pakistan’s journey from a security-challenged country to a growing tourist destination was made possible by the sacrifices of the armed forces, but the next phase of development requires strategic investments in human capital and digital connectivity.

He said that Uraan Pakistan provides a roadmap for Pakistan’s economic takeoff, aiming to transform the country into a $3 trillion economy by 2047.

He said that this initiative is focused on strengthening key sectors, promoting innovation and ensuring that Pakistan’s youth are equipped to compete in international markets.

He said that a strong emphasis is being placed on technical and vocational training, IT education, digital skills and apprenticeship programmes to create employment opportunities and bridge the skills gap.

The minister said that Pakistanis are already excelling in the global hospitality and service industries, but there is a need to expand training programs, integrate modern technologies and establish stronger industry-academia partnerships.

He said that Pakistan’s ability to grow economically depends on national unity and a clear economic vision. He said that Pakistan, as a nuclear nation with strategic importance, must now shift its focus towards becoming an economic power.

He said that divisiveness and short-term thinking have slowed progress, and the time has come for all stakeholders to work together for a stronger and more prosperous Pakistan.

Published in Dawn, March 6th, 2025