Islamabad: Warning that Pakistan faces an existential crisis where true economic transformation hinges entirely on trade growth, Federal Minister for Planning, Development, and Special Initiatives Ahsan Iqbal declared today that debt-driven stabilization offers false security and that expanding exports is the country’s only sustainable path forward.
According to Press Information Department, the Minister made these remarks during a high-level meeting with Mr. Yingming Yang, Vice President (South, Central, and West Asia) of the Asian Development Bank (ADB), who called on him in Islamabad to discuss ADB’s ongoing support for Pakistan’s development agenda under the URAAN Pakistan framework. Seeking ADB’s technical assistance and global best practices, Minister Ahsan Iqbal called on the bank to help develop a strategic road map for export expansion and diversification, reflecting the support ADB provided during Vision 2010. He reiterated the government’s ambition to transform Pakistan into a $1 trillion economy by 2035 and noted that Prime Minister Shehbaz Sharif is committed to removing structural bottlenecks, reforming key sectors, and leveraging economic diplomacy.
Highlighting Pakistan’s economic turnaround from 2022 to 2026 as a compelling case study for developing economies, the Minister requested ADB to maintain continuous coordination on development projects. Turning to climate adaptation and water security, Ahsan Iqbal noted the challenge posed by increasingly severe and unseasonal rainfall events, urging ADB to assist in developing localized water management infrastructure. Addressing environmental conservation, he requested ADB’s expertise to build a sustainable tourism management framework for Gilgit-Baltistan.
During the meeting, ADB’s Vice President formally invited Minister Ahsan Iqbal to lead Pakistan’s national delegation to the 25th CAREC Ministerial Conference in Ulaanbaatar, Mongolia, an invitation the Minister accepted. Mr. Yingming Yang reaffirmed ADB’s commitment to supporting Pakistan’s strategic objectives under URAAN Pakistan, pledging continued support for institution building, climate resilience, and sustainable growth.