Islamabad: Federal Minister for Planning, Development, and Special Initiatives, Ahsan Iqbal, has highlighted the need for Pakistan to pivot towards private sector-led growth and skill development to bolster its economy. Speaking at the COTHM Global Convocation, he stressed the importance of preparing the workforce for a rapidly evolving global economy and encouraging the private sector to lead investment and economic progress.

According to a statement by Press Information Department, Iqbal emphasized that no nation has sustained economic growth without active private sector involvement and a skilled workforce. He underscored the necessity of government facilitation for businesses, investment encouragement, and modern skill acquisition for young professionals.

Pakistan, he noted, has significant potential but requires structured reforms in education and industry to compete with regional economies such as Malaysia, Thailand, and India. Iqbal also pointed to the burgeoning tourism and hospitality sectors, which could benefit from strategic investments in human capital and digital connectivity.

He advocated for initiatives like Uraan Pakistan, which aims to transform the nation into a $3 trillion economy by 2047 by strengthening key sectors and promoting innovation. Technical and vocational training, IT education, and digital skills are pivotal in bridging the skills gap and creating employment opportunities.

Iqbal concluded by calling for national unity and a clear economic vision, urging all stakeholders to collaborate for a stronger, more prosperous Pakistan, emphasizing the country’s shift from a security-focused to an economically-driven powerhouse.