Latest news with #AhsanIqbal
Business Recorder
2 hours ago
- Business
- Business Recorder
Ahsan vows to deepen cooperation with World Bank
ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal has reaffirmed Pakistan's commitment to deepening cooperation with the World Bank in pursuit of a resilient, inclusive, and future-ready Pakistan. He was talking to the newly appointed Country Director of the World Bank Bolorma Amgaabazar, who called on him in Islamabad on Wednesday. The outgoing Country Director, Najy Benhassine, also participated in the meeting. Welcoming Amgaa-bazar, Minister Ahsan Iqbal appreciated the World Bank's continued partnership and acknowledged Benhass-ine's instrumental role in deepening development cooperation during his tenure. He expressed confidence that this positive trajectory will continue under Amgaabazar's leadership, especially under the evolving priorities set forth in Pakistan's long-term development road-map. Minister Iqbal emphasised that the government has launched the URAAN Pakistan initiative — a comprehensive and future-oriented development framework designed to position Pakistan as a $3 trillion economy by 2047. He noted that the initiative is rooted in five strategic pillars, known as the 5Es: Exports, E-Pakistan, Environment and Climate Resilience, Energy and Infrastructure, and Equity, Ethics and Empowerment. The initiative is focused on smart governance, inclusive growth, and public sector transformation. 'In today's fast-changing global context, planning must be intelligent and adaptive,' said the Minister. 'URAAN Pakistan is about creating hope, harnessing innovation, and enabling long-term stability through scenario-based planning and institutional reform.' Copyright Business Recorder, 2025
Express Tribune
5 hours ago
- Business
- Express Tribune
Govt to revive development forum this year
Listen to article Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal has reiterated the government's resolve to revive the Pakistan Development Forum later this year – a platform that fosters strategic dialogue between the government of Pakistan and its development partners. During a meeting with newly appointed World Bank Country Director for Pakistan Bolorma Amgaabazar on Wednesday, the minister appreciated the World Bank's continued partnership with Pakistan. Departing country director Najy Benhassine also participated in the meeting, according to a press release issued by the ministry. Iqbal acknowledged the instrumental role played by Benhassine in deepening development cooperation during his tenure. He expressed confidence that the positive trajectory would continue under the new World Bank official, especially under the evolving priorities set forth in Pakistan's long-term development road map. He pointed out that the government had launched Uraan Pakistan – a comprehensive and future-oriented development framework designed to turn the country into a $3 trillion economy by 2047. He noted that the initiative was rooted in five strategic pillars, known as 5Es, which comprised exports, e-Pakistan, environment and climate resilience, energy and infrastructure, and equity, ethics and empowerment. This programme is focused on smart governance, inclusive growth and public sector transformation. "In today's fast-changing global context, planning must be intelligent and adaptive," the minister remarked. "Uraan is about creating hope, harnessing innovation and enabling long-term stability through scenario-based planning and institutional reform." The minister underscored the planning ministry's leadership during the recent national emergencies, including the 2022 floods and the Covid-19 pandemic. He cited the examples as successful case studies of integrated planning and swift execution – the core principles being institutionalised under Uraan. Iqbal told the World Bank officials that his ministry was leading an extensive consultative process to modernise civil services and improve public sector delivery. The World Bank officials offered continued support for advancing reforms and strengthening the implementation capacity, particularly for large-scale infrastructure and social development projects. Discussions between the two sides included the significance of collaborative planning, federal-provincial coordination and institutional resilience. At the conclusion, the minister reaffirmed the commitment to deepening cooperation with the World Bank in pursuit of a resilient, inclusive and future-ready Pakistan.
Business Recorder
a day ago
- Health
- Business Recorder
Infrastructure must also safeguard health of people: Ahsan
ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal addressed a high-level event jointly organised by the Asian Infrastructure Investment Bank (AIIB) and the Pakistan Institute of Development Economics (PIDE), marking the launch of AIIB's flagship report, Asian Infrastructure Finance 2025: Infrastructure for Planetary Health, said a press release. The minister stated that the launch of this report is both timely and deeply relevant to Pakistan's national and global development goals. Speaking to a distinguished audience comprising experts from PIDE, representatives of AIIB, development partners, and leaders from across sectors, the minister emphasised that Pakistan is standing at a critical moment, a point where infrastructure must not only support economic growth but also safeguard the health of its people and the health of the planet. Iqbal underlined that infrastructure today encompasses much more than roads, buildings, or power plants. It is equally about the air quality, the water nation drinks, and the healthcare systems that protect its people. He said this broader definition of infrastructure touches the idea of planetary health, where human health is intrinsically linked to the health of nature and the planet. Iqbal made clear that the Government of Pakistan is not allowing any infrastructure project to move forward unless it takes into account climate resilience, public health, and environmental protection. He affirmed that working in silos has ended, as every sector and system, be it hospitals, schools, transport systems, sewage networks, or electricity grids, must be integrated and climate-ready to remain functional and safe during natural disasters. The minister added that the government recognises the need to reduce dependence on fossil fuels and is actively investing in solar, wind, and green hydrogen technologies as part of its transition to cleaner energy. He stated that Pakistan is embracing nature-based solutions, highlighting ongoing initiatives such as planting mangroves along the country's coastal areas and developing green parks in cities, calling these smart, cost-effective, and equitable methods to enhance resilience. Iqbal pointed out that the data in the AIIB report echoes Pakistan's lived reality, diseases are rising due to floods and substandard water systems, food insecurity is worsening due to changing rainfall patterns, erratic rains are contributing to higher infant mortality, and lead pollution from industries and batteries is damaging children's health and brain development. He stressed that these phenomena are not abstract projections but are unfolding across Pakistan in real time. From floods and heatwaves to smog and water shortages, the impacts of climate inaction have become embedded in daily life. Iqbal assured that Pakistan is not beginning from scratch. The government has already started aligning national plans with the concept of planetary health. He specifically cited the 'Uraan Pakistan' initiative and the government's Five Es Framework as part of a comprehensive national agenda to promote climate-smart, health-responsive, and inclusive infrastructure. Under Uraan Pakistan, the government has begun transitioning to zero-emission electric buses in public transport, restoring riverbanks and wetlands to reduce flooding risks and promote green tourism, and upgrading healthcare centres to make them energy-efficient and resilient in the face of disasters. He highlighted that these efforts are well-aligned with the principles highlighted in AIIB's report, which promotes a transformative model of infrastructure that links sustainability with biodiversity conservation, public health outcomes, and climate resilience. Citing findings from the Global Commission on Adaptation, Prof Iqbal noted that every dollar invested in climate-resilient infrastructure can generate a fourfold return by avoiding future losses. He said Pakistan is incorporating urban green infrastructure solutions, including green belts, permeable surfaces, and climate-sensitive zoning regulations, which are proven to reduce urban temperatures by up to 4°C and mitigate extreme heat, particularly in cities like Jacobabad and Lahore. He added that the restoration of mangroves in coastal areas, already underway in Pakistan, is reducing storm damage by up to 30 to 50 percent while simultaneously improving fish livelihoods. Concluding his address, Prof Iqbal stated that historically, infrastructure planning in Pakistan has prioritized quantity over quality and expansion over resilience. He affirmed that the government is turning this page decisively and is committed to a new era of planning grounded in the principles of climate-smart, health-protective, inclusive, and sustainable infrastructure development. Copyright Business Recorder, 2025
Business Recorder
a day ago
- Business
- Business Recorder
East-West Economic Corridor: Formal launch of landmark research report
ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal has emphasised the critical need for greater regional connectivity and economic cooperation between South and Central Asia. He was addressing a high-level gathering of diplomats, experts, and development partners at the formal launch of a landmark research report examining the feasibility of an East-West Economic Corridor connecting South Asia and Central Asia on Tuesday. The event was graced by the Ambassador of Kazakhstan, Yerzhan Kistafin, along with other distinguished dignitaries, and marked a pivotal moment in shaping the vision for greater economic collaboration in the region. The report, jointly developed by RAND Corporation with the support of the Junaid Family Foundation and the RAND Center for Asia Pacific Policy Advisory Board, offers key insights into the prospects of a trans-regional economic corridor at a time when the global economic order is undergoing major realignment. Minister Iqbal stated that South and Central Asia have historically shared civilisational, cultural, and commercial ties. He highlighted that even as political borders have hardened, the logic of economic geography persists. He stressed the urgent need for regional integration, particularly for landlocked Central Asian countries seeking access to global markets—a goal Pakistan is well-positioned to support through its ports in Gwadar and Karachi. Underscoring Pakistan's strategic location at the crossroads of South Asia, China, and Central Asia, the minister said, 'Our country lies at the heart of a 3-billion population region, offering tremendous opportunity for trade and commerce.' He emphasised that regional connectivity is not just a slogan but a strategic imperative under Pakistan's national development vision. Referencing the government's 5Es Framework, with a strong focus on Energy and Infrastructure, he explained that Pakistan is promoting multimodal regional connectivity and is making sustained investments in rail, road, and port infrastructure. 'We are actively working to operationalize CPEC 2.0 and Central Asia Regional Economic Cooperation (CAREC) corridors, aimed westward through Pakistan to Central Asia,' he added. Minister Iqbal outlined Pakistan's tangible steps, including: Upgrading Gwadar Port; Expanding the ML-1 railway; Digitising customs and border crossings; Developing Special Economic Zones (SEZs), and Expanding power transmission capacity. He reaffirmed that these projects are backed by substantial allocations under the Public Sector Development Programme (PSDP), with the largest share of funding dedicated to infrastructure, logistics, and energy. 'Our commitment is visible through ongoing projects that aim to make connectivity both feasible and functional,' he stated. The planning minister emphasised that connectivity cannot thrive in an environment of coercion, occupation, and hegemonic ambition, and stressed that regional peace is the first prerequisite for regional trade. 'The idea of an East-West Economic Corridor connecting Central Asia, Afghanistan, Iran, Pakistan, and India is not new, but it must evolve from aspiration to actionable policy backed by political will and mutual trust,' he said. Concluding his address, Minister Iqbal reiterated Pakistan's firm commitment to a foreign policy anchored in geo-economics, saying: 'Pakistan stands for peaceful coexistence, regional integration, and mutually beneficial cooperation. Our national development model, Uraan Pakistan, places connectivity, trade, and sustainable growth at the heart of our strategy.' He acknowledged the immense potential of regional corridors, especially a land-based East-West corridor, to unlock economic prosperity and access to global markets for all partner countries. Copyright Business Recorder, 2025
India Today
3 days ago
- Business
- India Today
On debt bed, Pakistan to hike defence budget amid India's Operation Sindoor
Despite grappling with a deepening financial crisis that is pushing it at bailout mercies, Pakistan has confirmed that it is preparing to increase its defence spending in the next fiscal year, beginning in July. The increase is likely to be announced as the budget is presented on June 2. This comes even as Pakistan reels from military setbacks from India's Operation Sindoor, and the allocation of more funds to the military comes despite Pakistan's dire economic situation. Only last week, the IMF approved a loan tranche of $1 billion (around Rs 8,500 crore). The country is burdened with over $22 billion in external IMF loan made Pakistan the fourth-largest borrower of the multilateral financial body. Pakistan's Planning Minister, Ahsan Iqbal, on Saturday confirmed that the federal government would raise its defence budget for the upcoming 2025-26 fiscal year, citing the recent military escalation with India and New Delhi's suspension of the Indus Waters Treaty as key factors behind the decision, reported Karachi-based newspaper said there was no pressure from the IMF in shaping or finalising the federal announcement came just weeks after Pakistan's federal government, led by the PML(N), reportedly approved an 18% hike in defence expenditure, raising the allocation to over Rs 2.5 trillion in the upcoming budget. It, too, cited the escalation in tensions with India as a key reason for the defence budget SPENDING RISES EVEN AS PAKISTAN'S ECONOMY BLEEDSadvertisementThe increased defence spending amid economic fragility in Pakistan has always been the subject of reliance on bailouts and foreign aid continues to empower its military establishment, even as critical sectors like education, healthcare, and poverty alleviation remain reflects a deeper paradox of elite-driven economic decision-making, where national priorities are often shaped by security concerns over social welfare, according to Soumya Bhowmick, a Fellow at the New Delhi-based Observer Research Foundation (ORF).Pakistani economic journalist Afshan Subohi, in her May 19 column in Dawn, questioned who would bear the cost of the defence hike in a cash-strapped economy. The piece was published after the federal government signalled it would raise the defence budget by 18%."The current tense regional environment likely underpins the government's proposal, endorsed by its largest coalition partner, the Pakistan Peoples' Party, to raise the defence budget by 18 per cent for the next fiscal year. The critical question for a resource-constrained country, however, remains: who will pay for it?" asked in June 2024, Pakistan's defence forces got a nearly 17.6% budgetary hike, amounting to Rs 2.12 trillion (PKR)."Pakistan's tax revenues are relatively modest, but its defense spending is massive, largely because the military is the country's de facto ruler. A bankrupt Pakistan is already receiving one IMF bailout and is seeking another, yet it unveils a 17.6% rise in its big defence budget," geostrategist and academic Brahma Chellaney wrote on X in June PAKISTAN TO HIKE DEFENCE SPENDING AMID TENSIONS WITH INDIAadvertisementIslamabad's announcement of an increase in its defence budget follows India's Operation Sindoor, in which Indian forces targeted terror bases in Pakistan and Pakistan-occupied Kashmir (POK), after the April 22 Pahalgam Sindoor successfully destroyed nine terrorist camps linked to Lashkar-e-Taiba, Jaish-e-Mohammed, and Hizbul Mujahideen in Pakistan and Pakistan-occupied Kashmir, killing over 100 terrorists, including high-value targets like Yusuf Azhar and Abdul Rauf advanced airpower, with precision strikes in a 25-minute operation, exposed gaps in Pakistan's air defence targeting of military and civilian areas made Indian armed forces retaliate by striking key military installations in Pakistan and cripple its air Pakistan's drone and missile attacks on Indian civilian and military infrastructure, Indian air defence systems effectively neutralised Pakistani strikes. Moreover, Indian forces hit key military infrastructure, like airbases at Noor Khan and Rahimyar Khan, where its technological superiority and strategic restraint were on heightened military tensions in the lead-up to India's Operation Sindoor, Pakistani daily The Express Tribune reported in early May that the government was weighing additional hikes to the proposed defence budget to counter "Indian aggression" and boost investment in indigenous research and in response, raised concerns about Pakistan's fiscal priorities, with Foreign Secretary Vikram Misri urging the IMF to reconsider its bailout packages due to the potential misuse of funds for military SPENDING BAILOUT MONEY ON DEFENCE AMID CASH CRUNCHPakistan's reliance on IMF bailouts, 25 loans since 1950, including four in the last five years, reveals its chronic economic instability. Pakistan's loans from the IMF alone stood at $6.2 billion as of March 31, 2025, according to the despite this cash crunch, Pakistan's civilian regime, whose reins lie in the hands of the military, is prioritising defence spending, which already accounts for nearly 18% of the federal the IMF warned that tensions with India could jeopardise Pakistan's fiscal and reform goals, Finance Minister Muhammad Aurangzeb claimed that the recent escalation with India would have "minimal fiscal impact" and could be accommodated within the current fiscal choosing to prioritise defence spending amid economic freefall, Pakistan is once again leaning into its military-first doctrine, despite the long-term risks to its economic recovery and human Watch
