Ahsan Iqbal Reveals Trick to Grow Economy

Federal Minister for Planning, Development, and Special Initiatives Ahsan Iqbal stated that exports are a matter of "life and death" for Pakistan, explaining that the nation cannot achieve lasting growth by relying on debt. Speaking at a high-level gathering with Asian Development Bank (ADB) Vice President Yingming Yang in Islamabad on the 3rd of September, Iqbal emphasized that economic stabilization must not be dependent on debt.

He asserted that exports are essential for providing the foundation for economic expansion. Iqbal called upon ADB's technical expertise and international support to assist Pakistan in crafting a strategic roadmap to broaden and diversify its exports. The meeting centered on ADB's ongoing assistance for Pakistan's development under the URAAN Pakistan framework.

Iqbal requested ADB's support in formulating an export strategy, akin to the technical aid provided during the Vision 2010 initiative. He stated that the government aims to transform Pakistan into a $1 trillion economy by the year 2035, highlighting Prime Minister Shehbaz Sharif's dedication to dismantling structural obstacles to economic advancement.

The minister mentioned that reforms are necessary in key sectors, including industry, food security, commerce, and foreign affairs, and that economic diplomacy should be employed to expand international trade. He characterized Pakistan's economic progress from 2022 to 2026 as a potential case study for other developing nations. During the discussion, Iqbal stressed the importance of climate adaptation and water security, as Pakistan encounters increasingly extreme and erratic rainfall patterns.

He implored ADB to aid in the development of localized water management infrastructure, including small dams, reservoirs, and retention ponds. Iqbal explained that such infrastructure could aid in storing rainwater, alleviating pressure on cities, supporting agriculture, and enhancing Pakistan's water security. The minister also highlighted the challenge of sudden transboundary water inflows.

ADB was asked to help safeguard Gilgit-Baltistan. Iqbal sought ADB's technical assistance to establish a sustainable tourism management framework for the region, as its delicate ecosystem faces increasing tourist numbers. During the meeting, Yingming Yang invited Iqbal to chair Pakistan's delegation to the 25th CAREC Ministerial Conference, set for September 29–30, 2026, in Ulaanbaatar, Mongolia.

The ADB vice president accepted the invitation. The ADB vice president guaranteed the bank's backing for Pakistan's priorities under URAAN Pakistan, encompassing institution building, climate resilience, and sustainable long-term economic growth.