Karachi:
Federal Minister for Planning Ahsan Iqbal has said that to make Udan Pakistan a success, the presidents of all commercial banks should immediately establish a special export development window and introduce a laptop leasing scheme for the convenience of students on the lines of auto leasing.
Addressing a meeting held at the State Bank of Pakistan with CEOs and presidents of all banks, Federal Minister for Planning Ahsan Iqbal said that in 22 years we will turn 100 years old, the world is changing, we will prove to be a good case of rapid development and for this we have to be associated with Udan Pakistan.
He said that quality human resources are a major problem in Pakistan. The State Bank and banks should introduce a scholarship scheme for manpower. They want to increase remittances by exporting manpower.
The Federal Minister said that exports of $30 billion have to be increased to $100 billion, no matter how long it takes. GDP growth must be linked to export growth.
He said that there are mineral reserves worth trillions, but we have failed to take advantage of them. He has formulated a policy of working sustainably with determination in the blue economy and mining.
He said that economic stability and development can be achieved by working in 8 sectors, agricultural production can increase exports, we need an export surplus to increase exports, financing is required for a surplus in exports, and the promotion of industry is extremely important.
Ahsan Iqbal said that the corporate sector in the Pakistan Stock Exchange is interested in the local market, we need to explore international markets, there is a lot of potential in the minerals sector.
He said that due to the China-Pakistan Economic Corridor (CPEC), billions of rupees have been invested in Thar Coal, remittances can be further increased through exports of services, the creative economy also has potential, be it the fashion designing industry, film or the e-commerce sector, and currently there is a dire need to adopt the techno-economy.
The Minister of Planning said that technology plays a very important role in banking, environmental change is a very important issue, for which we have to be prepared, improve infrastructure, and focus on food and water security.
He said that a Green Revolution must be brought about, which will lead to sustainable agricultural production, circular debt must be eliminated in the energy sector, and rail and transport infrastructure must be improved to reach Central Asia.
He said that to reduce poverty, attention must be paid to education, health, and population control. The mission is to empower the young generation and women economically. Economic development is not possible without 50 percent economic participation of women. Morality and values ​​must be promoted.
Ahsan Iqbal said that the entire perception of Pakistan has changed due to the CPEC project. Under the CPEC project, EOUs worth $46 billion were signed. In 2017, the United States also expressed interest in joining CPEC.
He said that the success of Udan Pakistan depends on the banking sector. Pakistan defaulted domestically in 2022 due to the non-release of the budget on April 1. However, thanks to the actions of the current government, Pakistan's international ratings are being upgraded.
He said that in a short period of time, the inflation rate has decreased from 38% to 4%, the interest rate has also decreased from 23% to 13%. We are seeing the economy on a sustainable path.
The ruling party's Secretary General said that political instability has sabotaged the continuity of economic policies, Pakistan's literacy rate is only 60 percent and 25 million children do not go to school.
He said that Pakistan's tax culture is weak and currently the tax GDP is only 9.5%.