Federal Minister Ahsan Iqbal has said that Pakistanis pay some of the lowest taxes in the world, warning that no country can build a strong economy without taxes, exports, and foreign investment. He emphasized that these three pillars are the foundation for national growth and stability.
Speaking at an event in Karachi, the minister explained that although Pakistan has faced repeated economic setbacks in the past, the country is now in a position to make what he described as “a new takeoff.” He recalled that in April 2022, Pakistan was on the brink of an internal default, but a series of financial and structural reforms since then helped the economy regain stability.
According to him, interest rates, which had once reached as high as 22 percent, have now been reduced to 11 percent. At the same time, international credit rating agencies have improved Pakistan’s economic outlook, a sign that the country is regaining the confidence of global financial markets.
Ahsan Iqbal further explained that the government’s fiscal reforms have created financial space worth around Rs 2,800 billion. This additional capacity has allowed the state to fund major expenditures, including about Rs 2,500 billion allocated for defense.
However, despite these improvements, the minister acknowledged that Pakistan is still struggling in some key areas. Exports remain weaker than required to support sustainable growth, and the country continues to rely heavily on borrowing to meet its expenses. He stressed that unless Pakistan strengthens its export base and attracts more investment, the economy will not be able to move onto a truly independent and resilient path.
