ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives, Prof. Ahsan Iqbal on Monday said that the size of Pakistan’s economy would be expected to touch $1 trillion by the year 2035 as the country’s economy would become one of the largest in the world.
Addressing ‘ Master Card Funded Care Ignite Project” ceremony’ held here, the minister said that the country’s economy had the potential to become a major economy in the world by 2035.
Ahsan Iqbal hoped that domestic exports could reach $100 billion in the next five years and current domestic exports stood at $30 billion, which was much less than its potential.
He said that the current government was following short-term, medium and long-term plannings to improve the economy, for which the Economic Council had been formed.
Ahsan Iqbal said that the economy of the country had deteriorated due to the wrong planning of the previous Tehreek-e-Insaf government.
He said that in the previous government of Muslim League-Nawaz, international economic think tanks were counting the Pakistani economy among the next top 20 economies in the world.
Foundation of China Pakistan Economic Corridor (CPEC) was laid by the PML-N previous government and huge investment came into the country for it, he pointed out.
The minister said that the PML-N government had done a lot of work on other sectors including energy due to which the country’s economy was on the path of development.
Ahsan Iqbal said that at that time there was a huge economic turnaround in the country and the economy of the country was developing rapidly.
He said that Small and Medium Enterprises (SMEs), regional trade and foreign investment were very important in the development of the country’s economy, on which the present government was working with a comprehensive plan. (APP)