Pakistan's economy to touch $1tr by 2035: Ahsan Iqbal

Says PTI’s poor planning is the reason behind deteriorating economy

ISLAMABAD (APP) – Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal on Monday said the size of Pakistan’s economy would be expected to touch $1 trillion by the year 2035, making it one of the largest in the world.

Addressing a ceremony held in connection with “Master Card Funded Care Ignite Project”, the minister said the country’s economy had the potential to become a major economy in the world by 2035.

He hoped that exports could reach $100 billion in the next five years against the current level of $30 billion, which was much less than Pakistan’s potential.

Ahsan said the current government was following short-term, medium and long-term planning to improve the economy, for which the Economic Council had been formed.

The minister said the economy had deteriorated due to the wrong planning of the previous Tehreek-e-Insaf-led government.

He said during the last term of the PML-N government, international economic think tanks were counting the Pakistani economy among the next top 20 economies in the world.

Foundation of China Pakistan Economic Corridor (CPEC) was laid by the then PML-N government and huge investment came into the country for that reason, he pointed out.

The minister said the PML-N government had done a lot of work in different sectors, including energy, due to which the country’s economy was on the path of development.

Ahsan said at that time, there was a huge economic turnaround and the economy of the country was developing rapidly.

He said small and medium enterprises (SMEs), regional trade and foreign investment were very important in the development of the country’s economy, on which the present government was working with a comprehensive plan.