Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal on Wednesday emphasized that Pakistan’s economic future depended on a shift towards private sector-led growth and a nationwide focus on skill development.
Addressing the COTHM Global Convocation here, he said Pakistan must prepare its workforce to meet the demands of a changing global economy and that the private sector must play a central role in driving investment, business expansion, and economic progress.
The minister said that no country has achieved sustained growth without the active involvement of the private sector and a skilled workforce.
He said Pakistan’s economic challenges required a fresh approach where the government facilitates businesses, encourages investment, and equips young professionals with modern skills.
He pointed out that while Pakistan has immense potential, it needed structured reforms in education and industry to compete with economies such as Malaysia, Thailand and India.
Ahsan Iqbal highlighted that Pakistan was on the brink of a major breakthrough in tourism and hospitality, with its landscapes and heritage sites gaining global recognition.
He said despite progress, Pakistan has yet to fully capitalize on this potential due to gaps in infrastructure and skilled human resources.
He said Pakistan’s journey from a security-challenged country to a growing tourist destination was made possible by the sacrifices of the armed forces, but the next phase of development requires strategic investments in human capital and digital connectivity.
He said Uraan Pakistan initiative provided a roadmap for Pakistan’s economic takeoff, aiming to transform the country into a $3trillion economy by 2047.
He said this initiative was focused on strengthening key sectors, promoting innovation, and ensuring that Pakistan’s youth are equipped to compete in international markets.
He said a strong emphasis was being placed on technical and vocational training, IT education, digital skills, and apprenticeship programs to create employment opportunities and bridge the skills gap.
The minister said Pakistanis were already excelling in the global hospitality and service industries, but there was a need to expand training programs, integrate modern technologies, and establish stronger industry-academia partnerships.
He said Pakistan’s ability to grow economically depended on national unity and a clear economic vision.
He said Pakistan, as a nuclear nation with strategic importance, must now shift its focus towards becoming an economic power.
