Ahsan Iqbal launches ‘Pakistan One’ business plan competition to boost exports, innovation

Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal on Monday launched the “Pakistan One – National Business Plan Competition for Export Excellence,” aimed at channelling the creativity and innovation of youth into globally competitive ventures.

Speaking at the launch ceremony, the minister said Pakistan’s future is linked to the “creativity, courage and intelligence” of its young people, according to a press release.

The initiative, he noted, is envisioned as more than just a competition, “a nationwide movement” to empower youth, encourage self-employment and foster innovation across provinces and regions.

Under the URAAN five-year plan, Pakistan One will engage over 10,000 aspiring entrepreneurs nationwide, collect more than 1,000 business plans, and shape at least 500 into scalable projects through mentorship, training, and global exposure. To accelerate this pipeline, a record $5 million Grand Prize will be awarded to the most promising ventures.

Iqbal said the program reflects Pakistan’s need to shift from a “job-seeking economy to a job-creating economy,” stressing that innovation, technology and industrialisation are the cornerstones of modern development.

Pakistan’s exports have hovered around $27 to 32 billion for several years, with textiles accounting for $17.9 billion, the minister observed. However, he pointed out that IT and software services are expanding at 15-20 percent annually and could surpass $20 billion by 2030.

He also identified agri-tech, food processing, renewable energy and sustainable manufacturing as sectors with strong export potential.

Highlighting Pakistan’s geostrategic location, Iqbal said the country offers a unique opportunity to connect South Asia, Central Asia and the Middle East, opening up “unmatched prospects” for regional trade.

The minister also underscored the importance of digital innovation, noting that through the e-Pakistan initiative, new systems are being developed in fintech, agritech and greentech.

“Investment in digital skills and innovation will make our youth the engine of economic growth,” he said.

Iqbal concluded that the goal is to build a Pakistan that stands as “a symbol of progress, innovation, and global confidence.”