KARACHI, April 14, 2025 – Federal Minister for Planning, Development & Special Initiatives Ahsan Iqbal has stressed the urgent need to transition Pakistan towards a sustainable, export-driven economy, cautioning that short-term growth reliant on consumption and imports leads to repeated cycles of instability.
Speaking at a meeting with the Karachi Chamber of Commerce and Industry (KCCI), Iqbal said: “We can artificially accelerate growth, but it will be short-lived. To break free from the boom-and-bust cycle, we must anchor our economy in exports and build strong foreign exchange reserves.”
Iqbal emphasized that true economic VIPs are those who earn foreign exchange for Pakistan—whether industrialists, SMEs, or women entrepreneurs. “Every sector must pivot to exports. Our future depends on becoming an exporting nation, not a consuming one,” he said.
He urged KCCI to serve as a key partner in the government’s Uraan Pakistan initiative, a national roadmap to economic transformation. “Without KCCI as a co-pilot, this initiative cannot take off,” he said, emphasizing continuity, peace, stability, and policy reforms as the four pillars of sustained success.
The Minister also introduced the National Productivity, Quality, and Innovation Initiative and called on the business community to embed these principles into operations. He proposed setting up a Karachi Export Compliance and Innovation Cell under KCCI, focusing on certification, governance compliance, and easing access to global markets.
To nurture entrepreneurship, Iqbal suggested creating an SME Innovation Fellowship Program, in collaboration with business schools like IBA. “We need to empower youth to become job creators, not job seekers,” he said. He also proposed forming a Green Karachi Business Alliance to promote sustainable exports through eco-friendly business practices.
Chairman BMG Zubair Motiwala, however, expressed serious concerns over the lack of progress on Uraan Pakistan. “The vision is excellent, but there’s no implementation. Why hasn’t industry benefited yet?” he questioned.
Motiwala criticized IMF restrictions and high input costs as barriers to export competitiveness. “Pakistan’s gas prices are 36% higher than Bangladesh. If we want to compete globally, we must lower energy tariffs and remove bureaucratic hurdles,” he said.
KCCI President Jawed Bilwani echoed these sentiments, stressing Karachi’s contribution—54% of total exports and 67% of national revenues. He urged the government to resolve infrastructure, energy, and water issues, and abolish peak-hour tariffs to enable 24/7 industrial activity.
Both business leaders and the Planning Minister agreed: export-led growth is the only path to long-term economic stability. The challenge now is turning policy into action.