Pakistan’s economic growth speeds up

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Pakistan becomes fifth fastest emerging economy: Iqbal

Minister for Planning, Development and Reform Ahsan Iqbal has urged business leaders to play their due role in economic development of the country.

“We, as leaders, have the responsibility to become ambassadors of Pakistan and show the spirit to take the country to new heights and into the ranks of top 25 economies of the world, as envisioned by the government in 2014,” he said while addressing the second ‘Leaders in Islamabad’ business summit on Wednesday.

The theme for this year’s summit was ‘Disrupting the Future’ where innovators, leaders and future thinkers came together to present their ideas.

Iqbal said technology was developing at a very fast pace, which changed the mode of doing business, as innovations and new ideas kept on emerging every day.

He said average growth of national economy came in at 4.85% over the last five years compared to 3% expansion during the tenure of the previous government. “Pakistan has become the fifth fastest emerging economy among the comity of nations,” he claimed.

The minister said heavy investments had been made in the country’s infrastructure, energy and industrial sectors under the China-Pakistan Economic Corridor (CPEC), which would result in boosting the national economy.

“CPEC is at the initial stage and its benefits are still being felt across the country as far-flung areas are being connected to big cities through the construction of 1,650km motorways, besides generating numerous employment and entrepreneurship opportunities,” he said, adding after completion of the mega project in 2030, Pakistan would become a hub of regional trade, business and manufacturing.

Source: tribune.com.pk