Federal Minister for Planning Ahsan Iqbal has urged Pakistan to shift away from debt-backed economic growth, saying the country needs stronger exports to achieve lasting stability and growth.
Speaking during a meeting with Asian Development Bank (ADB) Vice President Yingming Yang in Islamabad, Iqbal said economic stabilization would remain incomplete if it continued to depend on borrowing.
“Stabilization will only be true stabilization when it is not on the back of debt. Only exports can give us the legs to grow,” he said.
Iqbal described export-led growth as a critical priority for Pakistan and sought ADB’s technical support in preparing a roadmap to increase and diversify the country’s exports.
The meeting covered ADB’s assistance for Pakistan’s development priorities under the URAAN Pakistan framework.
Ahsan Iqbal Seeks ADB Support for Export Growth
Iqbal asked the ADB to provide technical expertise and international best practices to help Pakistan expand its export base.
He referred to the bank’s technical support during the Vision 2010 initiative and called for similar assistance to develop a long-term export strategy.
The minister said Pakistan is targeting a $1 trillion economy by 2035. He added that the government is working to remove structural hurdles in major sectors, including industry, food security, commerce, and foreign affairs.
He also highlighted economic diplomacy as an important tool for opening new markets and increasing trade.
According to Iqbal, Pakistan’s economic progress between 2022 and 2026 could serve as a useful example for other developing countries.
ADB Asked to Help Pakistan Manage Water
The discussion also focused on climate change and Pakistan’s growing water challenges.
Iqbal said increasingly severe and irregular rainfall requires better local water management and urged the ADB to support projects such as small dams, reservoirs, and retention ponds.
He said storing rainwater could help protect urban areas, provide water for agriculture, and improve the country’s overall water security.
The minister also pointed to the risks posed by sudden inflows of water from across the border.
ADB Support Sought for Gilgit-Baltistan Tourism
Iqbal further requested ADB expertise to develop a sustainable tourism management system for Gilgit-Baltistan.
He said the region’s environment needs greater protection as rising tourist numbers put additional pressure on its fragile ecosystems.
During the meeting, Yang invited Iqbal to head Pakistan’s delegation at the 25th CAREC Ministerial Conference, which will be held in Ulaanbaatar, Mongolia, on September 29–30, 2026.
Iqbal accepted the invitation.
The ADB vice president reaffirmed the bank’s commitment to supporting Pakistan’s development priorities, including institutional reforms, climate resilience, and sustainable long-term growth.
