LAHORE (special crosspondent) – Federal Minister for Planning and Development Ahsan Iqbal stated on Saturday that the global community is rapidly transitioning away from gasoline-powered transportation as the electric vehicle (EV) revolution gains momentum. Highlighting the domestic energy landscape, he noted that 80 percent of petrol consumption in Pakistan is attributed to the transport sector, underscoring the urgent necessity for the nation to expedite its shift toward electric mobility.

Speaking to the media following the inauguration of the EVS World and Electricity Pakistan Exhibition at the Expo Center in Lahore, the minister emphasized that the country’s sustainable development is intrinsically linked to export growth. Aligning with the government’s broader economic objectives, he stressed that national prosperity remains contingent upon export growth to bolster Pakistan’s national economy. He urged stakeholders and exporters to maximize their efforts, noting, “Pakistani exporters are reaching diverse markets, but we must expand our exports by an additional ten percent. Pakistan can achieve a global hallmark by leveraging the immense potential of the EV sector.”

Economic Reforms and Fiscal Responsibility

Addressing inquiries regarding the national economy, Ahsan Iqbal noted that nine million overseas Pakistanis contribute approximately USD 40 billion in remittances. He argued that Pakistan must transition into an “earning economy” rather than remaining a “dollar-spending economy” to reduce reliance on the International Monetary Fund (IMF). He further praised the initiatives of Prime Minister Shehbaz Sharif, stating that the government has implemented critical structural reforms within the Federal Board of Revenue (FBR) to curtail tax evasion and improve public sector development projects. He pointed out that Pakistan currently maintains one of the lowest tax-to-GDP ratios globally, lagging behind the 14 to 16 percent benchmarks observed in developed nations.

Foreign Policy and National Stability

Turning to regional geopolitics, the minister asserted that Pakistan has demonstrated its commitment to peace through proactive diplomacy. He claimed that the previous administration left the country on the brink of bankruptcy, but the successful no-confidence motion acted as a catalyst to prevent a sovereign default. Commenting on regional tensions, he remarked that Pakistan remains resolute in its stance against unconventional warfare. Regarding global economic pressures, he acknowledged the impact of international oil price volatility, expressing hope that leadership in the United States and Iran will move toward consensus to stabilize global markets and mitigate the adverse effects currently impacting 193 nations.