Likely to become part of G20 by 2030: Country will soon stand among developed nations: Dar

ISLAMABAD: Deputy Prime Minister and Foreign Minister Ishaq Dar has expressed satisfaction over the pace of Pakistan’s economic development, stating that the country will soon stand among developed nations and is likely to become a part of the G20 by 2030 at the latest.

He emphasized that all regulatory bodies should continue to work collaboratively and effectively to further accelerate the country’s growth.

Dar made these remarks while addressing the foundation stone-laying ceremony for the new headquarters of the Competition Commission of Pakistan (CCP) in Islamabad.

Pakistan will be part of G20 by 2030, claims Ishaq Dar

The ceremony was attended by Federal Minister for Law and Justice Azam Nazeer Tarar, Finance Minister Muhammad Aurangzeb, Minister Ali Pervaiz Malik, Federal Secretary for Law and Justice Raja Naeem, Chairman of the Competition Commission Dr. Kabir Ahmed Sidhu, Chairman of the Securities and Exchange Commission of Pakistan (SECP) Akif Saeed, and other senior officials.

Dar said Pakistan had great resilience and blessed with huge reserves of mines and mineral, granite, hydrocarbon, stones and other resources worth at least US$ 10 trillion.

Ishaq Dar underscored the importance of a strong Competition Commission in ensuring a level playing field for businesses and fostering investment in Pakistan. He pointed out that, unfortunately, cartels have formed in the country’s markets, exploiting consumers and hindering the effectiveness of government initiatives. Given this scenario, he stated that the Competition Commission has a dual responsibility: not only to take action against cartels but also to protect consumer rights.

Expressing concern, he noted that while the Competition Commission takes bold decisions, court-issued stay orders prevent these cases from reaching their logical conclusion. However, he expressed hope that under the leadership of Law Minister Azam Nazeer Tarar and Finance Minister Muhammad Aurangzeb, the Competition Commission would achieve further success.

He also praised Chairman of the Competition Commission Dr. Kabir Ahmed Sidhu for effectively steering the commission in the right direction.

Reflecting on past economic challenges, Ishaq Dar recalled that in 2013, Pakistan was considered a macroeconomically unstable country, with investors contemplating moving their capital abroad. However, he asserted that with the right strategy, such challenges can be managed effectively.

Copyright Business Recorder, 2025