Islamabad (Zahid Yaqoob Khawaja) : Senator Muhammad Ishaq Dar, Deputy Prime Minister and Minister for Foreign Affairs of Pakistan, was the Chief Guest at the Pakistan Policy Dialogue, Correcting Course: Pakistan\u2019s Economic Reset, held in Islamabad. Speaking on the need for an economic reset anchored in realism, reform discipline, and constructive collaboration, he said, \u201cResetting and correcting course is about strengthening the foundations of the economy itself. This requires responsible governance, consistent policies, and institutions that operate with continuity beyond political cycles. What is now required is a technology-enabled approach to governance that reforms public service delivery and ensures policy intent translates into measurable outcomes.\u201d
Highlighting the government\u2019s achievements on the diplomatic front, the Deputy Prime Minister said \u201cAll diplomatic efforts are geared towards helping business boost exports and create mutual partnerships based on economic interests.\u201d
The Dialogue convened senior policymakers, corporate leaders, and development experts to deliberate on pragmatic reform pathways, growth-oriented policy choices, digitization, and institutional strengthening at a critical juncture for Pakistan\u2019s economy.
Organized by the Policy Research and Advisory Council (PRAC) in collaboration with the CORPORATE PAKISTAN GROUP (CPG) and Nutshell Group as Strategic Partner, with the Ministry of Commerce (MoC) and Trade Development Authority of Pakistan (TDAP) as Founding Partners, the Pakistan Policy Dialogue is envisioned as a recurring national platform for evidence-based policy discourse. The Dialogue was supported by Bank Alfalah and BankIslami, as Platinum and Gold Partners, respectively
.
The Inaugural Session, \u201cResetting Pakistan\u2019s Economic Direction,\u201d brought together prominent stakeholders.
Speakers included Prof. Ahsan Iqbal, Federal Minister for Planning, Development and Reforms; Senator Muhammad Aurangzeb, Federal Minister for Finance and Revenue; Senator Dr. Musadik Malik, Federal Minister for Climate Change and Environmental Coordination;
Muhammad Ali, Adviser to the Prime Minister on Privatisation; Dr. Ishrat Husain, N.I., H.I., author, economist, former Federal Minister and former Governor, State Bank of Pakistan; Muhammad Younus Dagha, Chairman, PRAC; and Muhammad Azfar Ahsan, Pakistan\u2019s former Minister for Investment and Chairman, CPG.
Prof. Iqbal highlighted the importance of planning, productivity, and export competitiveness in Pakistan\u2019s economic recovery, noting that a durable reset must balance short-term stabilization with long-term development objectives. He observed, \u201cCompared to 1947, Pakistan has progressed, but globally it still lags behind peers.
A future-forward approach is needed rather than exploiting past conflicts for media mileage. Developed countries stand on universal primary enrollment, robust health markers, at least 90% literacy, political stability, and sectoral development; Pakistan lags on all fronts.\u201d
Senator Aurangzeb outlined government reform priorities and the focus on macroeconomic stability. He said, \u201cOur focus is on existential challenges: achieving sustainable growth for a USD 3 trillion economy requires addressing rapid population growth and climate risks, including floods that heavily impact GDP. At the same time, emerging sectors like crypto and blockchain, driven by youth and freelancers, need formalization and regulation, with the government providing an enabling ecosystem.\u201d
Senator Dr. Malik highlighted the need for equitable resource distribution, particularly for women and fresh graduates, stating, \u201cUntil you democratize capital and empower new entrants, nothing will change.\u201d
Muhammad Ali stressed the essence of privatization and the government\u2019s need to focus on areas best left to private enterprise, saying, \u201cFour major weaknesses have challenged us: stretched public resources, informal economic activity, idle or speculative capital, and lack of inclusion.\u201d
Dr. Husain emphasized the dynamic nature of policy making and the need to shift focus to services exports: \u201cTechnology has shifted the paradigm toward services, whose growth rate outpaces goods. Yet, we remain focused on goods.
Concentrating on human resources and service exports is essential for sustainable growth.\u201d
Younus, underscored solutions-oriented policymaking, noting, \u201cPakistan has moved decisively from default risk to macroeconomic stability, with inflation falling nearly 80 percent, foreign exchange reserves rising to USD 21 billion, and the current account returning to surplus.
The critical question is what drove this turnaround; tight policy rates or favorable global commodity prices? More importantly, how prepared are we for the next disruption, particularly AI? Sustainable growth will depend on strong human capital, AI-ready skills, productive cities, effective local governments, and a coherent, predictable policy framework that builds investor confidence.\u201d
Azfar connected the theme and the need for expedited action by saying, \u201cA meaningful economic reset requires collaboration between the state and private sector, guided by evidence-based policy and long-term vision. Pakistan\u2019s growth trajectory can only be corrected through structural reforms, investment in human capital, and a governance framework that translates policy into measurable results.\u201d<\/p>\n\n\n\n
Post-inaugural sessions featured focused policy discussions. The panel \u201cBridging the Digital Divide\u201d explored digital infrastructure, financial inclusion, and technology adoption. Panelists included Aamir Ibrahim, CEO, Jazz and Chairman, Mobilink Microfinance Bank; and Mujeeb Zahur, Managing Director Pakistan, S&P Global Pakistan, moderated by Saquib Ahmad, Global Chief Growth Officer, Systems Limited.<\/p>\n\n\n\n
Aamir advocated for a cashless economy, stating, \u201cDigital allows us to trace every transaction. Rast QR codes should be at every outlet, and above all, we must double down on execution.\u201d Mujeeb added, \u201cCapital and private markets assess countries through standardized benchmarks, with digital infrastructure, policy frameworks, and ease of doing business central to risk evaluation. Policymakers must prioritize government digitization to enhance investor confidence and attract capital.\u201d Saquib concluded, \u201cWe play a pivotal role in facilitating digitization and must align with government efforts to maximize impact.\u201d<\/p>\n\n\n\n
The session \u201cGreen Growth Pathways for a Climate-Vulnerable Pakistan\u201d focused on financing, policy alignment, and private-sector participation. Panelists included Nadia Rahman, Member, Planning Commission of Pakistan; Dr. Samuel Rizk, Resident Representative, UNDP Pakistan; Maheen Rahman, CEO, InfraZamin Pakistan; and Ayla Majid, Founder and CEO, Planetive, moderated by Sajjeed Aslam, Partner and Co-Founder, Spectreco LLC, USA. Nadia emphasized mobilizing private capital for decarbonization: \u201cDecarbonization requires financing beyond the government\u2019s limited 5% fiscal space. Instruments like Green Panda Bonds, green sukuk, carbon finance, public-private partnerships, and debt-for-climate swaps are critical.\u201d Dr. Rizk stressed coordinated climate responses: \u201cClimate and disaster programs must be nationally led, not piecemeal. When funding aligns with a unified strategy, individual efforts can deliver meaningful impact.\u201d Maheen highlighted water and agriculture concerns: \u201cWe lose 10 years of water every year due to glacier melt. Climate\u2019s impact on agriculture must be addressed over the next five years. \u201cAyla noted the need for innovative investment tools: \u201cCapital markets and banks lack the depth to meet all needs. Technology, such as tokenization and digital asset frameworks, can democratize investment and mobilize capital across sectors.\u201d<\/p>\n\n\n\n
The session \u201cRestoring Competitiveness: Fixing the Macroeconomic Framework\u201d included Khurram Schehzad, Adviser to the Finance Minister; Ahsan Zafar Syed, President, Engro Corporation; Huma Fakhar, Founder, MAS Capital and MAP Group; Dr. Khaqan Hassan Najeeb, Economist and former Advisor, Ministry of Finance; and Muhammad Jawed Bilwani, Chairman, J.B. Industries and former President, KCCI, moderated by Assad Hameed Khan, Country Head Pakistan, ACCA.<\/p>\n\n\n\n
Khurram Schehzad highlighted policy reforms: \u201cTo enhance competitiveness, we have begun opening up the economy through the last budget, phasing tariff and customs reforms over five years to improve efficiency, attract investment, and build a competitive market. A key structural shift this year is policy correction, moving from enforcement-led to finance and revenue-focused policies.\u201d Huma reflected on contrasting realities: \u201cTwo realities exist: the traditional struggling economy and a vibrant, emerging startup and SME sector performing exceptionally well.\u201d
The closing session, \u201cFrom Dialogue to Delivery: Advancing Pakistan\u2019s Growth Agenda,\u201d featured Mohammad Ali Tabba, CEO, Lucky Cement, who shared private-sector perspectives: \u201cWith landmark privatizations like PIA and Pakistani companies acquiring exiting multinationals, the country is demonstrating business capability. To achieve sustainable growth, Pakistan must address structural bottlenecks in energy, water, and exports, aiming for 5\u20136% annual growth to create jobs and strengthen economic resilience.\u201d<\/p>\n\n\n\n
Younus concluded with a focus on human resource development and multi-stakeholder collaboration. The Dialogue ended with consensus on reinforcing partnerships between the state, policymakers, business leaders, financial institutions, and development partners. Future editions aim to deepen evidence-based policymaking, private-sector engagement, and support Pakistan\u2019s ongoing economic reset.<\/p>\n","protected":false},"excerpt":{"rendered":"
Islamabad (Zahid Yaqoob Khawaja) : Senator Muhammad Ishaq Dar, Deputy Prime Minister and Minister for Foreign Affairs of Pakistan, was the Chief Guest at the Pakistan Policy Dialogue, Correcting Course: Pakistan\u2019s Economic Reset, held in Islamabad. Speaking on the need for an economic reset anchored in realism, reform discipline, and constructive collaboration, he said, \u201cResetting<\/p>\n","protected":false},"author":1,"featured_media":7553,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33,34,31],"tags":[],"class_list":{"0":"post-7549","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"category-entertainment","9":"category-national"},"_links":{"self":[{"href":"https:\/\/capitalnewspk.pk\/en\/wp-json\/wp\/v2\/posts\/7549","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/capitalnewspk.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/capitalnewspk.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/capitalnewspk.pk\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/capitalnewspk.pk\/en\/wp-json\/wp\/v2\/comments?post=7549"}],"version-history":[{"count":2,"href":"https:\/\/capitalnewspk.pk\/en\/wp-json\/wp\/v2\/posts\/7549\/revisions"}],"predecessor-version":[{"id":7554,"href":"https:\/\/capitalnewspk.pk\/en\/wp-json\/wp\/v2\/posts\/7549\/revisions\/7554"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/capitalnewspk.pk\/en\/wp-json\/wp\/v2\/media\/7553"}],"wp:attachment":[{"href":"https:\/\/capitalnewspk.pk\/en\/wp-json\/wp\/v2\/media?parent=7549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/capitalnewspk.pk\/en\/wp-json\/wp\/v2\/categories?post=7549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/capitalnewspk.pk\/en\/wp-json\/wp\/v2\/tags?post=7549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}