CHICAGO: Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal has called on the Pakistani-American business community to invest in Pakistan’s economic transformation, saying the country is entering a new phase of growth following improvements in macroeconomic stability and investor confidence.
Addressing a gathering of 20 prominent Pakistani-American entrepreneurs, technology leaders, financiers and investors in Chicago, the minister said overseas Pakistanis have a vital role to play in accelerating economic development by bringing investment, expertise and global business networks to Pakistan.
The delegation included Fortune 500 executives, founders of artificial intelligence startups and US-based technology investors, many of whom are already involved in investment and philanthropic initiatives in Pakistan.
Ahsan Iqbal said recent economic reforms implemented under the leadership of Prime Minister Shehbaz Sharif have helped stabilize the economy by reducing inflation, lowering policy interest rates and improving Pakistan’s international economic standing.
He said the government’s focus is now on translating macroeconomic stability into sustained economic growth by creating an enabling environment for investment, innovation and entrepreneurship.
Highlighting the government’s URAAN Pakistan initiative, the minister outlined an ambitious roadmap to transform Pakistan into a $1 trillion economy by 2035 and a $3 trillion economy by 2047. He said the strategy is based on five key pillars: exports, digital transformation, environment and climate change, energy and infrastructure, and equity and empowerment.
He identified information technology, agriculture, manufacturing, tourism, mining and minerals, the blue economy, skilled human resources and creative industries as priority sectors for export-led growth.
The minister also emphasized that Pakistan’s constructive role in promoting regional peace has strengthened investor confidence and created new opportunities for international trade and economic cooperation.
During his visit, Ahsan Iqbal held a series of meetings with senior representatives of the University of Chicago to explore academic and research partnerships aimed at strengthening Pakistan’s education system, public administration and climate resilience.
In discussions with Professors Madhav Rajan and Katie Hiranyak, both sides agreed to develop a hybrid academic programme under which Pakistani students would complete coursework in Chicago while conducting research in Pakistan. They also agreed to jointly design a modern training programme for Pakistan’s civil servants, focusing on science, technology, innovation and contemporary public-sector management.
The minister stressed that strengthening human capital and reforming the civil service remain central to the government’s broader agenda for improving governance and public service delivery.
In another meeting with development economist Dr. Christina Brown and Research Director Zohaib Hassan, officials agreed to collaborate with the Pakistan Institute of Development Economics (PIDE) on a comprehensive review of school and university curricula. The initiative aims to modernize Pakistan’s education system and improve access to quality learning.
Climate resilience also featured prominently during discussions with Sam Ori, Executive Director of the University of Chicago’s Institute for Climate and Sustainable Growth. Both sides agreed to expand cooperation on emissions trading, electricity tariff reforms, weather forecasting and early warning systems to strengthen Pakistan’s response to climate change.
The discussions also included plans to sign a new memorandum of understanding between the institute and PIDE to support climate research and policy development.
Concluding his engagements in Chicago, the minister reaffirmed the government’s commitment to building long-term partnerships with the Pakistani diaspora, international universities and global investors to promote economic growth, technological innovation, climate resilience and human capital development.
He expressed confidence that closer collaboration with overseas Pakistanis would help accelerate Pakistan’s transition toward a competitive, knowledge-based economy.
