ISLAMABAD
\nFederal Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal on Thursday highlighted the centrality of credible data for evidence-based policymaking, saying the Household Integrated Economic Survey (HIES) 2024\u201325 marked a major milestone for informed planning and sustainable development in the country.
\nAddressing the launch ceremony of HIES 2024\u201325, the minister congratulated the team behind the survey and the SDGs framework, stressing that \u201cdata is the foundation on which accurate and scientific planning is built.\u201d
\nHe said the Ministry of Planning had assumed ownership of clearing long-pending statistical backlogs and had completed surveys that remained stalled for six to seven years.
\n\u201cAlhamdulillah, all pending work has been completed and approved for the nation,\u201d he added.Ahsan Iqbal said the availability of updated data would strengthen government policymaking while enabling researchers, businesses and youth to undertake better research, business planning and national analysis.
\n\u201cThis survey is a milestone for the country,\u201d he remarked. Referring to the findings of HIES, the minister said Pakistan had faced a series of economic shocks over the past six to seven years, beginning with policy disruptions after 2018 that derailed the growth momentum built between 2013 and 2018.
\nHe said mismanagement, particularly the surge in imports in 2022 to around $80 billion, resulted in a massive current account deficit and depletion of foreign exchange reserves, causing currency instability and prolonged inflation.
\n\u201cThere was no economic plan or direction; only reactive measures, and retaliatory measures do not run an economy,\u201d he said, adding that the situation was exacerbated by COVID-19 and subsequent global commodity and supply shocks. The minister said the survey showed the lower middle class had been the most affected, with sharp changes in income and consumption patterns. \u201cFood inflation and rising utility prices consumed most of their income, leaving little room for other expenses,\u201d he said.
\nDespite the turbulence, Ahsan Iqbal said the economy had now moved past the worst phase and was on a recovery path. He cited GDP growth of 3.71 percent in the first quarter as \u201cvery encouraging\u201d and expressed optimism that growth could reach four percent or higher if the current trajectory was maintained. However, he cautioned against artificial, consumption-led growth driven by excessive imports. \u201cWe do not want short-lived growth that crashes due to foreign exchange shortages,\u201d he said, stressing the need to align growth with export earnings, remittances, foreign direct investment and other inflows.
\nHe said the government was pursuing a prudent growth policy alongside reforms under the IMF programme to ensure stability and sustained high growth in coming years.On social indicators, the minister acknowledged relative improvements in literacy, health and infant mortality but said progress remained insufficient. He pointed out that literacy had risen only from around 60 to 63 percent, far short of global benchmarks.
\n\u201cUnder an education emergency, we must raise literacy to 90 percent in the next five to six years,\u201d he said, calling for joint efforts by governments, civil society and individuals. Highlighting the Uraan Pakistan agenda, Ahsan Iqbal said the survey reinforced the urgency of accelerating socio-economic development while ensuring peace and stability.
\nHe urged a shift in national discourse from political confrontation to issues shaping the country\u2019s future, such as child stunting, literacy and universal primary enrolment.\u201cThe future belongs to nations that prioritise their economy and socio-economic development,\u201d he said, adding that strong socio-economic foundations were essential for political stability.
\nThe minister called upon media, opposition, private sector and civil society to use the survey as a basis for constructive debate and collaboration. \u201cWe can only achieve our goals through cooperation as Team Pakistan,\u201d he said. Describing the HIES as \u201can invitation to think and act,\u201d he reiterated the resolve to transform Pakistan\u2019s social and economic indicators under Uraan Pakistan, while achieving a $1 trillion economy by 2035.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Federal Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal on Thursday highlighted the centrality of credible data for evidence-based policymaking, saying the Household Integrated Economic Survey (HIES) 2024\u201325 marked a major milestone for informed planning and sustainable development in the country. Addressing the launch ceremony of HIES 2024\u201325, the minister congratulated the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-523347","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n