LAHORE: Federal Minister for Planning Development and Special Initiatives, Ahsan Iqbal, has expressed confidence that Pakistan would soon emerge as a global economic force, under the leadership of Prime Minister Shehbaz Sharif.
While speaking at the three-day training session for directors of state-owned enterprises (SOEs) at the Executive Development Institute (EDI) of the National School of Public Policy (NSPP), here on Monday, Ahsan highlighted the government’s commitment to reforms, transparency and modern technology adoption.
He said that Pakistan is prepared for a major economic transformation, emphasising that good governance and policy continuity are essential for progress.
He highlighted that SOEs are crucial economic assets to the country, providing services in energy, transportation, finance and public utilities. Currently, there are 212 active SOEs in Pakistan, but their financial performance lags behind global standards.
He mentioned that the government introduced the SEOs (Governance and Operations), Act 2023 to strengthen transparency, accountability frameworks and reduce financial irregularities, which often lead to financial burdens.
The goal is to cut financial losses related to SOEs by 30% within five years and enhance their contribution to economic development. He expressed optimism that the performance of SOEs would improve by 20-25% in the next three years. If necessary, he indicated that the poorly performing SOEs would be privatised or restructured.
Additionally, public-private partnerships (PPPs) would be established to improve their operational efficiency, he added. Ahsan shared his personal experience working with SOEs, emphasising that proper governance training can lead to cost savings and service improvements.
The minister stressed that continuity of policies is vital for national development and every citizen must play their role in nation-building.
He reiterated that Pakistan has no shortage of talent or resources, with a vast pool of skilled young individuals capable of transforming the country’s destiny. He stressed that good governance is fundamental to achieving the goals. Despite all challenges, the government remains committed to working tirelessly for national progress, and the day is not far when Pakistan will be on the path of sustainable development.
He maintained that organising a Directors’ Training Programme to professionalise the leadership of SOEs and enhance their performance is a significant step. He congratulated the administration of NSPP and the EDI for the initiative, which will improve governance in the public sector and help align SOEs with international standards.
Ahsan pointed out that Pakistan’s rapidly growing population is another major challenge. According to the latest census, the population growth rate has increased from 2.0% to 2.55%, making Pakistan the fifth most populous country in the world.
If this trend continues, the population will reach approximately 400 million in the next 25 years. This will put immense pressure on national resources, agriculture, food security and infrastructure. Therefore, controlling population growth and accelerating economic progress is essential to compensate for 77 years of setbacks, Ahsan said.
He urged officials to actively participate in the training programme and implement strong governance frameworks in their organisations. By improving corporate governance and financial discipline, SOEs can be transformed from financial burdens into national assets.
The government is fully committed to supporting and implementing these reforms to ensure that SOEs play a significant role in economic development.
Moreover, Ahsan Iqbal administered an oath to first-year MBBS students at the King Edward Medical University (KEMU) during its prestigious “White Coat” Ceremony.
Addressing on the occasion, he stressed that becoming a distinguished doctor requires a decade of rigorous study, with 2025 marking their beginning and 2035 their culmination as experts in their fields.
He remarked that a doctor’s behavior plays a crucial role in a patient’s recovery, beyond just medicine. He reminded students that their success is the result of their hardwork and their parents’ prayers, urging them to become a valuable asset to the nation.
He highlighted the sacred bond between a doctor and their white coat, comparing it to the relationship between a soul and a body.
He recalled that in 1969, Pakistan’s revenue stood at $200 million, equal to that of Malaysia, Thailand and South Korea at the time. However, these nations had since achieved remarkable economic growth, which he attributed to strategic policies, investment in innovation and long-term planning factors.
He mentioned that when the government took charge, Pakistan was on the verge of bankruptcy, but despite political challenges, they put the country back on track. Inflation has now decreased, the stock market is booming, and foreign investments are returning, signaling Pakistan’s readiness for another economic take off under Prime Minister Shehbaz Sharif’s leadership.
The minister announced the launch of “Uraan Pakistan”, a three-year healthcare programme aimed at addressing health challenges. Under this initiative, Rs 67 billion have been allocated for Zero-Hepatitis and diabetes treatment and Rs 8 billion has been designated for providing heart stents in the upcoming budget.
Ahsan envisioned Pakistan reaching a one-trillion-dollar economy by 2035 and becoming one of the world’s top 10 economic powers by 2047.
Copyright Business Recorder, 2025
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