Former caretaker federal minister Gohar Ejaz has said that loans only provide temporary relief and cannot serve as a foundation for long-term prosperity in the country.
The former minister and also Chairman of the Economic Policy and Business Development think tank passed these remarks as he proposed a roadmap for Pakistan’s economic revival, stressing that sustainable growth could not be achieved through new borrowing or rescheduling of old debts.
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“Borrowing is like putting an economy in the ICU [Intensive Care Unit] on ventilator support. It does not cure the underlying illness,” he remarked.
The former minister emphasised that true economic success lied in boosting trade, investment, and industrial activity, which he termed the real engines of growth.
Ejaz expressed confidence that Pakistan had potential to become the fifth largest economy in the world, pointing out that the country had ranked fifth globally in terms of population size.
“To achieve prosperity, Pakistan must create a business-friendly environment and provide its industries with a level playing field, comparable to regional competitors,” he noted.
Ejaz urged policymakers to prioritize reforms that allow trade, industry, and investment to flourish, saying that only then could Pakistan secure sustainable growth and economic well-being.
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