Pakistan Must Cross $100 Billion Export Mark By 2035 For Sustainable Economic Sovereignty: Ahsan Iqbal
Pakistan must push its exports beyond $100 billion by 2035 to meet its long-term economic ambitions, according to Federal Minister for Planning, Development and Special Initiatives, Professor Ahsan Iqbal. He made these remarks while addressing the “Business Excellence Award Ceremony for SMEs & Top Exporters of Faisalabad” at the Faisalabad Chamber of Commerce & Industry (FCCI).
Iqbal emphasized that Pakistan cannot rely on conventional economic practices anymore and needs to unlock its full potential with "extraordinary speed." He called for collaboration between the government and the business community to assure international buyers of Pakistan's reliability as a supplier. Iqbal noted that past economic growth, characterized by consumption and imports, has led to trade deficits, foreign exchange pressures, and debt challenges.
He highlighted the country's recent efforts over the last two years to stabilize the economy but stressed that the next step is to transform this stability into rapid, sustainable, and export-led growth. Iqbal argued that increasing exports by small amounts annually will not suffice for Pakistan's future external financing needs; substantial and sustained expansion in export earnings is crucial to reduce dependence on borrowing.
The minister set a target of transforming Pakistan into a $1 trillion economy by 2035, emphasizing the indispensable role of expanding exports in achieving this goal. He noted that while economies can grow through consumption or production, Pakistan needs to adopt a production and export-oriented model for sustainable foreign exchange generation. Iqbal concluded by mentioning the government's "Uraan Pakistan" program as part of these efforts.