Oxford University Professor of Economic Policy and Consultant Stephen Dercon called on Planning Minister Ahsan Iqbal in his office today to discuss the National Economic Transformation Plan unveiled by Government on 31st December. He congratulated Minister Ahsan Iqbal and commended the efforts of his entire team for preparing a detailed strategy to address key economic challenges through the targeted framework of 5Es. Minister Ahsan Iqbal stated during the meeting that the economic strategy aims to rejuvenate Pakistan’s economy, promote sustainable development, and drive inclusive growth. He stressed on the importance of the five critical areas that the strategy aims to address: exports, e-Pakistan, environment and climate change, energy and infrastructure, equity and empowerment. Minister said that the country has faced many hurdles that weakened its institutions and impeded development in the past. Expressing hope in Pakistan's future, he said that the URAAN Pakistan program will provide short- to mid-term solutions for the country’s economic stabilization and growth. Mentioning his recent meeting with Presidents and CEOs of banks in Karachi, Planning Minister told the British professor that he had advised banks to establish an export development window offering soft loans to small and medium enterprises (SMEs) to generate $40-60bn in exports over the next five years. He also emphasised the crucial importance of financial sector in promoting export growth, enhancing agricultural exports, fostering industrial development, and advancing critical areas such as IT, services, mining, workforce export, the blue economy, and innovation.
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