Pakistan needs to enhance exports for sustainable economic growth: Minister

He said that Pakistan would get out of the economic swamp if it could elevate exports out of the indigenous resources from $32 billion to $100 billion in the next five to eight years

Pakistan flag, Flag of Pakistan
Pakistan's national flag (Photo: Reuters)
IANS Islamabad
2 min read Last Updated : Feb 04 2023 | 10:58 AM IST

Pakistan needs to enhance its exports for sustainable economic growth and development, says Minister for Planning, Development and Special Initiatives Ahsan Iqbal.

"Pakistan's sustainable and self-reliant economy depends on how fast we can increase our exports as this is the only solution to ending our dependence on international financial institutions," the Minister said while addressing a ceremony here on Friday.

He said that Pakistan would get out of the economic swamp if it could elevate exports out of the indigenous resources from $32 billion to $100 billion in the next five to eight years, reports Xinhua news agency.

"We have to work hard to catch up with the emerging economies in the world. The country is presently facing big economic challenges, but they are not bigger than our capabilities and resolve to overcome them," he added.

Talking about the young generation of the country and their role in economic development, Iqbal said that the Pakistani government had undertaken various initiatives to cater to the aspirations of the youth, who comprises more than 60 per cent of the total population.

"Empowering our youth is empowering Pakistan. Youth is our future. The future of Pakistan is pinned on our youth, who have to steer the country forward with positive thinking," he said.

Iqbal also emphasized the need to promote collaborative potential in youth to face future challenges, saying the future of the world lies in teamwork, and not in individual work.

--IANS

ksk/

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Pakistan economic growtheconomy

First Published: Feb 04 2023 | 10:58 AM IST

Next Story