ISLAMABAD: Federal Minister for Planning and Development Ahsan Iqbal on Tuesday, assumed his office amidst a warm welcome from senior officers and staff of the ministry.
Addressing the media, Iqbal noted that this marked his fourth tenure in the ministry, emphasizing the importance of policy continuity for national development, particularly in an era dominated by digital technology.
Regarding the China-Pakistan Economic Corridor (CPEC), Iqbal underscored the significant opportunity presented by its second phase. He asserted the coalition government’s commitment to revitalizing confidence in CPEC, noting plans to initiate five new corridors in collaboration with China.
Iqbal acknowledged the substantial Chinese investment of $25 billion in the first phase of CPEC but cautioned about Pakistan’s challenging economic situation, heavily reliant on loans to meet various expenses including debt repayments, salaries, pensions, and subsidies.
Expressing concern over the sustainability of the current economic model, Iqbal criticized the previous government’s handling of finances, attributing a significant portion of the nation’s debt burden to their incompetence.
