Minister for Planning, Development and Special Initiatives Ahsan Iqbal emphasized on Thursday that Pakistan’s economic stability can only be truly sustainable if it is driven by export growth rather than reliance on debt. He urged the Asian Development Bank (ADB) to assist in formulating a strategic roadmap aimed at expanding and diversifying the country’s exports.
During a meeting with ADB Vice President for South, Central, and West Asia, Yingming Yang, in Islamabad, Iqbal stated that genuine economic stabilisation must not depend on borrowing. Instead, he highlighted exports as the foundation for sustainable growth.
He underscored the importance of export-led growth for Pakistan’s economic future and requested ADB’s technical expertise and international best practices to develop a comprehensive strategy to broaden the export base. Iqbal noted that this roadmap could build on the ADB’s previous technical support during the preparation of Vision 2010, which he described as a landmark contribution to Pakistan’s development planning.
The minister outlined the government’s ambition to transform Pakistan into a $1 trillion economy by 2035. He added that Prime Minister Shehbaz Sharif is dedicated to eliminating structural obstacles and reforming critical sectors such as industry, food security, commerce, and foreign affairs.
Highlighting Pakistan’s economic turnaround from 2022 to 2026, Iqbal suggested it could serve as a model for other developing economies. He also called for ongoing close coordination with the ADB to ensure development projects align with government priorities under the “URAAN Pakistan” framework.
In a significant development, the discussion also addressed climate adaptation and water security challenges, as Pakistan faces increasingly unpredictable and intense rainfall patterns. Iqbal requested ADB’s support in developing localized water management infrastructure, including small dams, reservoirs, and retention ponds, especially in regions where substantial rainwater is lost through drainage.
He stressed the importance of storing rainwater to protect urban areas, support agriculture, and enhance water security. Additionally, Iqbal pointed out the difficulties caused by sudden transboundary water inflows and advocated for improved infrastructure and planning to manage such events effectively.
Furthermore, he sought ADB’s technical assistance to create a sustainable tourism management framework for Gilgit-Baltistan, where rising visitor numbers are exerting pressure on the region’s delicate ecosystems.
In response, Vice President Yang reaffirmed the ADB’s commitment to supporting Pakistan’s development goals under the URAAN Pakistan initiative, focusing on institution building, climate resilience, and sustainable long-term growth. Yang also extended an invitation to Iqbal to lead Pakistan’s delegation at the 25th CAREC Ministerial Conference, scheduled for September 29-30 in Ulaanbaatar, Mongolia, which Iqbal accepted.
This meeting reflects Pakistan’s strategic shift from short-term economic stabilization towards sustained, export-driven growth, with increased emphasis on structural reforms, economic diversification, and deeper integration into regional and global markets.
