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Pak needs to enhance exports for sustainable economic growth: Minister

Islamabad, Feb 4 (IANS) Pakistan needs to enhance its exports for sustainable economic growth and development, says Minister for Planning, Development and Special Initiatives Ahsan Iqbal.

“Pakistan’s sustainable and self-reliant economy depends on how fast we can increase our exports as this is the only solution to ending our dependence on international financial institutions,” the Minister said while addressing a ceremony here on Friday.

He said that Pakistan would get out of the economic swamp if it could elevate exports out of the indigenous resources from $32 billion to $100 billion in the next five to eight years, reports Xinhua news agency.

“We have to work hard to catch up with the emerging economies in the world. The country is presently facing big economic challenges, but they are not bigger than our capabilities and resolve to overcome them,” he added.

Talking about the young generation of the country and their role in economic development, Iqbal said that the Pakistani government had undertaken various initiatives to cater to the aspirations of the youth, who comprises more than 60 per cent of the total population.

“Empowering our youth is empowering Pakistan. Youth is our future. The future of Pakistan is pinned on our youth, who have to steer the country forward with positive thinking,” he said.

Iqbal also emphasized the need to promote collaborative potential in youth to face future challenges, saying the future of the world lies in teamwork, and not in individual work.