ISLAMABAD: Federal minister for planning, development and special initiatives Ahsan Iqbal on Thursday said Pakistan must focus on productivity, quality, and innovation to strengthen economy.

He said this while inaugurating the National Productivity, Quality, and Innovation (PQI) Summit 2024 in Islamabad on Thursday.

This two-day event revolves around the theme “Driving Growth Through Excellence in Productivity, Quality, and Innovation.”

In his address, Ahsan Iqbal highlighted Pakistan’s achievements despite early post-independence challenges.

“From the limited resources, Pakistan has risen to become the seventh nuclear power and is now manufacturing advanced aircraft. However, we must acknowledge that we have lagged behind in key sectors compared to other nations,” he remarked.

He pointed out that in 1980, Pakistan’s per capita income was higher than China’s, but the gap has since widened, with Bangladesh and India surpassing Pakistan in economic growth.

“We must decide now whether we will become a successful nation in the next 30 years,” he stated.

Ahsan Iqbal stressed collective responsibility to restore Pakistan’s progress. “In 2013, Vision 2025 set the foundation for a brighter future. We overcame 18-hour power outages by 2018, and the world recognized Pakistan’s potential to join the top 30 economies. But, in 2018, the government disrupted progress, stalling CPEC projects and straining key partnerships,” he said.

He added that since 2022, efforts have been made to revive the economy. “Today, the stock market is rising, exports are growing, inflation is down to 7%, and the stock market has crossed the 96,000-point threshold. To further strengthen the economy, we need political stability, policy continuity, and an export-led growth model, with focus areas in human resource development, IT, agriculture, and mining. If we align our products with global standards, Pakistan can become a competitive economy.”

Discussing the summit’s core themes, Ahsan Iqbal noted, “Productivity, quality, and innovation are the bedrock of economic success. By adopting these principles, we can increase our exports from $30 billion to $100 billion.”

Speaking on the occasion, Secretary Planning Owais Manzoor Samra said that economic progress depends on adopting productivity, quality, and innovation. “Productivity is not just about working hard but working smart. We need to eliminate inefficiencies and integrate modern technologies. This seminar reflects the government’s commitment to these goals,” he added.

Published in Dawn, November 22th, 2024