LAHORE: Emphasising the need for stability, unity and focus for an economic turnaround, federal Minister for Planning and Development Ahsan Iqbal has said that everyone has to gather on a single-point agenda for strengthening the national economy.

Addressing the CEO Summit and launching ceremony of a bestselling book at a hotel on Thursday, he said that bold steps would have to be taken for revival of the economy and increasing exports to $100 billion from $32 billion.

“Pakistan needs stability, unity and focus for a turnaround. We have to focus on increasing exports, attracting investments and enhancing tax revenues,” he said. “Why are we struggling despite having marvellous natural resources?”

In 1980, per capita income was 300 dollars and the country had surplus electricity in 1998 and it was going to sell it to India but after 2006-7, the country had to face the worst loadshedding of even 16 hours. The then prime minister Nawaz Sharif introduced the Vision 2025 and it was signed by all provincial governments, he said.

He said then the China-Pakistan Economic Corridor (CPEC) came as a blessing for the country and the world was saying that Pakistan would be among top economies in 2030. He said the development budget in 2018 was Rs 1,000 billion and now it had been squeezed to Rs 550 billion.

Ahsan said the business community would have to play its role in increasing tax revenue, adding that imports should be reduced whereas exports should be increased. He called for paying special focus on the economy.

Copyright Business Recorder, 2022