Pakistan minister reveals $1 trillion economy plan in Dubai
Dubai: Pakistan's Federal Minister for Planning, Development, and Special Initiatives, Professor Ahsan Iqbal, urged overseas Pakistanis to play a central role in the country's ambitious economic transformation.
Speaking at the Pakistan Day reception on Wednesday in Dubai attended by diplomats, senior UAE government officials, Emirati nationals, and members of the Pakistani community, Minister Iqbal outlined the government's vision to position Pakistan as a $1 trillion economy by 2035.
The event, hosted by the Consulate General of Pakistan in Dubai, was a celebration of both Pakistan's history and its future potential. Minister Iqbal highlighted the significance of Pakistan Day, March 23, marking the Pakistan Resolution in 1940, which led to the creation of Pakistan under the visionary leadership of Quaid-i-Azam Muhammad Ali Jinnah, father of the nation.
Building bridges
'Overseas Pakistanis are key to building bridges, enhancing exports, and bringing investments that will propel Pakistan into the next phase of its economic evolution,' Minister Iqbal said. He called on the Pakistani diaspora to leverage their global networks, business expertise, and financial contributions to unlock Pakistan's true economic potential.
Minister Iqbal also explained the 'Uraan Pakistan Initiative,' a comprehensive national economic plan designed to address critical areas such as exports, e-commerce, environmental sustainability, and energy infrastructure.
The reception, which took place at hotel in Dubai, was attended by Khalid Muhammad Al-Kaabi from the Ministry of Foreign Affairs, Dubai Office. Pakistan's Ambassador to the UAE, Faisal Niaz Tirmizi, also attended the event, reaffirming the importance of the Pakistani diaspora in the nation's economic growth.
Deep-rooted ties
Consul General Hussain Muhammad, in his speech, highlighted the deep-rooted ties between Pakistan and the UAE, paying tribute to the over 1.7 million Pakistanis residing in the UAE, who he described as a vital link between the two countries.
A special moment in the evening was the presentation of the book Sheikh Zayed: The Builder of the Nation, authored by Khan Zaman Saroor, a prominent member of the Pakistani community in the UAE. The book, launched recently in Abu Dhabi, is a tribute to the legacy of the UAE's founding father.
The event also featured a short video montage showcasing rare historical photographs that captured pivotal moments in the longstanding relationship between Pakistan and the UAE, dating back to the 1960s.
$3 trillion economy
Minister Iqbal concluded his address by reiterating Pakistan's goal to become a $3 trillion economy by 2047, positioning the nation as a global economic powerhouse. He called on overseas Pakistanis to unite in this vision and contribute actively to the country's economic growth, emphasising that the future of Pakistan lies not only within its borders but also in the hands of its people abroad.
As Pakistan moves forward with its bold economic strategy, the involvement of its diaspora will be crucial in shaping the nation's economic destiny in the decades to come.
Key highlights
Export Growth: Aiming to double exports from $32 billion to $60 billion within five years, and reach $200 billion by 2030, this ambitious plan will play a pivotal role in strengthening Pakistan's position in the global economy.
Techno-Economy: Emphasizing the importance of technological advancement, Pakistan seeks to embrace the Fourth and Fifth Industrial Revolutions to become a global leader in innovation, digitalisation, and tech-driven industries.
Environment and Sustainability: Addressing climate change and ensuring water security, the initiative aims to build a sustainable future by tackling environmental challenges, safeguarding natural resources, and promoting food security.
Energy and Infrastructure: Central to the vision is transforming Pakistan's energy sector into a green energy powerhouse. The government also plans to modernise the nation's infrastructure to establish Pakistan as a logistical and manufacturing hub at the heart of South Asia, China, Central Asia, and the Middle East.
Equity, Ethics, and Empowerment: Focusing on human capital, the government aims to empower Pakistan's youth — 60% of the population — and increase female participation in the workforce from 23% to 50%. Education, healthcare, and addressing population growth are central to this pillar, ensuring an equitable future for all.
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