KARACHI, Dec 03 (APP):Federal Minister for Planning, Development, and Special Initiatives Ahsan Iqbal, on behalf of the Prime Minister, congratulated the Pakistan Stock Exchange (PSX) on achieving over 60% growth in 2024.
Speaking at the PSX gong striking ceremony on Tuesday, Ahsan Iqbal lauded the exchange’s performance, stating it showcased Pakistan’s resilience and economic potential.
During his address, Ahsan Iqbal emphasized the importance of four key factors for national development: peace, political stability, consistent policies, and commitment to reforms. He noted that without creating a conducive ecosystem, even the best intentions would be futile. “Pakistan needs these four pillars more than ever,” he stressed.
Reflecting on Pakistan’s long-term goals, Ahsan Iqbal underlined the need to honor the vision of Quaid-e-Azam Muhammad Ali Jinnah and Allama Iqbal as the nation approaches its centenary in 2047. “We cannot afford to lag behind economically,” he said, calling for strategic progress.
He highlighted the shift from the political ideologies of the 20th century to the economic competition of the 21st century.
The minister also announced the forthcoming National Economic Transformation Plan, emphasizing the need for export-led growth and the branding of “Made in Pakistan” products. He noted that no Pakistani company currently exceeds a $2 billion valuation, stressing the importance of connecting with global supply chains for economic survival.
Recounting past achievements, Ahsan Iqbal recalled that when the PML-N assumed office in 2013, the country faced severe crises, including terrorism, energy shortages, and target killings in Karachi. He added that the PML-N restored peace, controlled load-shedding, and advanced the China-Pakistan Economic Corridor (CPEC) project.
However, he criticized the political instability that followed in 2018, which he said disrupted national progress, particularly CPEC’s special economic zones (SEZs). When the government resumed power in 2022, Ahsan Iqbal said the focus shifted to preventing Pakistan’s economic collapse, with difficult decisions made to stabilize the country.
Thanking political parties for their support during this period, Ahsan Iqbal pointed to the results of these reforms, including reduced inflation, rising IT exports, and improved international ratings. He noted that PSX’s index had surged from 30,000 to 100,000 points, marking Pakistan’s emergence as a hub for investment opportunities.
“We have transformed from a security state to a nation ripe for investment,” Ahsan Iqbal said, emphasizing that Pakistan, despite its past challenges, has the potential to excel globally.
Earlier the ceremony began with the gong struck by the federal minister, alongside PSX Chairman Farukh Sabzwari and other key figures from the business and industry sectors.
