Next challenge for Pakistan is ensuring fair wealth distribution among people: Ahsan Iqbal

ISLAMABAD: Minister for Planning, Development and Reform Ahsan Iqbal Thursday said the government gave importance to infrastructure development in its five years and the next big challenge for Pakistan was to ensure fair distribution of wealth among people.

He was speaking at the foundation stone laying ceremony of the new campus of Pakistan Institute of Development Economics (PIDE) here.

He said traditions build an institution and it was the responsibility of the faculty and students of PIDE that they should take the institution to new heights of knowledge.

Ahsan said highest amount of funds in the history of Pakistan were allocated for Higher Education Commission (HEC).

The minister said, “We have to rectify our national narrative and in this respect universities have an important role to play. Universities should not be only for disbursing degrees.”

He said PIDE has the status of a think tank in economic matters of Pakistan, adding only those countries will make progress where people will get the opportunity to create wealth which is based on the economic growth.

The minister said the government gave importance to infrastructure development to connect the country with the backward areas.

The Mirpur Muzaffarabad Mansehra Road was included in the China Pakistan Economic Corridor (CPEC) so that the backward areas of Northern Region could take benefit, he added.

He said the annual average growth rate of five percent was maintained from the year 2013 to 2018.

He said in four years, 11000 megawatts of electricity were added to the national grid while in one year, the demand of electricity increased by 2800 megawatts.

The aim of PIDE was to undertake research that could guide Pakistan to further progress. “We have to ensure that our resources are rightly used in line with our priorities.” The world of today is of competitiveness and required world class capabilities and the digital revolution has created new challenges. New and revolutionary projects have started in the field of technology. “Due to our internal contradictions, we cannot achieve political stability in the last 70 years,” he remarked.

He said South Korea increased its exports from $200 million to $600 billion while our exports stayed at $24 billion.

“Today’s Pakistan is a shining Pakistan and those talking negatively all the time will be defeated in the election,” he added.