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Federal Minister for Planning and Development, Ahsan Iqbal, said on Monday that Pakistan is on course to become a trillion-dollar economy by 2035. Speaking during a press briefing to release the Monthly Development Update Report, he highlighted reforms across taxation, technology adoption, and digital systems that are helping improve transparency and curb tax evasion.
Addressing concerns about corruption, Iqbal said surveys show the actual bribery perception is 27 percent, lower than the commonly believed 65 percent. He noted that past political mismanagement had contributed to economic difficulties, but international organizations including the IMF, World Bank, and ADB are now praising Pakistan’s economic progress.
Key Macroeconomic Indicators
The minister pointed to encouraging economic data:
- Average inflation fell from 6.5% to 5.2% in seven months
- Tax revenue reached Rs 7.2 trillion
- Exports grew 3.7% in January to $3.1 billion
- Remittances rose 10.5% in six months to $19.7 billion
- Industrial sector growth is projected at 6%
Under the Public Sector Development Program (PSDP), Rs. 272.8 billion has been spent so far, up 27% from last year. These projects are expected to create 73,000 new jobs, while efficient management has saved Rs 5.5 billion.
Iqbal also highlighted social programs, including the National Mother and Child Care Conference, aimed at addressing child stunting among Pakistan’s 40 million children under five. Additionally, the scope of Ramazan relief has been expanded to 1.7 million families, with measures to prevent profiteering.
