KARACHI: Federal Minister for Planning, Development, and Special Initiatives Ahsan Iqbal underscored the necessity of export-led growth and long-term economic reforms during his recent visit to the Karachi Chamber of Commerce and Industry (KCCI). He warned that short-term economic measures could lead to instability due to increased imports and limited foreign exchange reserves.

Iqbal highlighted the importance of sustainable growth rooted in exports, urging all sectors to focus on global markets. He emphasized the critical role of foreign exchange reserves in ensuring Pakistan's future, advocating for greater involvement of small and medium enterprises and home-based women entrepreneurs in export marketing.

During the meeting, attended by prominent figures from KCCI, Iqbal called for the organization’s partnership in the Uraan Pakistan initiative, stressing that KCCI's active involvement is vital for the program’s success. He pointed to the experiences of countries like India and South Korea, which have successfully implemented long-term economic pillars such as stability and reform.

Iqbal introduced the National Productivity, Quality, and Innovation Initiative, urging businesses to integrate these elements. He proposed the creation of a Karachi Export Compliance and Innovation Cell to support exporters, and encouraged partnerships with educational institutions to drive innovation.

Chairman of the Businessmen Group, Zubair Motiwala, expressed concern over the lack of implementation of the Uraan Pakistan initiative, questioning the delay in achieving export growth. He highlighted barriers such as high gas prices and bureaucratic hurdles, recommending the hiring of international consultants to benchmark costs against regional competitors.

KCCI President Muhammad Jawed Bilwani emphasized Karachi's significant contribution to the national economy, calling for government support to resolve issues such as utility disruptions and infrastructure deficits. He advocated for a flat electricity rate to support industrial operations and urged the government to address these challenges promptly.

The discussions at KCCI reflect a broader consensus on the need for strategic economic reforms and a focus on export-led growth to secure Pakistan's economic future.