Daily Times

Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal stressed the need to adopt an export-led economic growth strategy by enhancing the country’s seaports and shipping services.

“This is the only way to achieve national prosperity and safeguard sovereignty,” he said in a televised address while chairing a meeting of the prime minister’s committee to address logistic issues faced by seaports in Karachi. The meeting was attended by key stakeholders, including the Secretary of Maritime Affairs, the Secretary of Railways and members of the Planning Commission.

He called for advancing the national growth strategy by declaring sustainability a top priority, noting that as the growth rate increases, there would be pressure on imports, which requires sufficient foreign exchange.

Highlighting the importance of logistic services for increased exports, the minister vowed to make the country’s seaports more efficient and competitive, with fast container delivery services in collaboration with the private sector.

Citing a World Bank Containers Competitiveness Report 2022, which reviewed 350 seaports and placed Karachi and Bin Qasim ports at numbers 84 and 90 respectively, he expressed a firm resolve to include Pakistani seaports among the list of the top 50 equipped with the “fastest clearance services.”

He emphasized the need for Pakistani goods to be transported via Pakistani ships, making exports the centerpiece of the economy.

He noted that all countries that achieved export-led growth ensured a smooth supply chain with efficient, competitive and rapid clearance services at their seaports.

He directed the Ministry of Maritime Affairs to prepare an action plan to improve the efficiency of seaports and expedite clearance services.

Ahsan Iqbal underscored the importance of seizing the current opportunity, bolstered by a three-year “insurance policy” from the recent International Monetary Fund (IMF) program.

The minister shared Pakistan’s 77-year struggle to adopt an export-oriented economic policy, citing past initiatives like Vision 2010 and Vision 2025, which fell victim to political instability.