Pakistan’s economy is moving in the right direction despite facing major challenges in the past, according to Deputy Prime Minister and Foreign Minister Ishaq Dar. Speaking at a Pakistan Business Council event, he reflected on the country’s economic struggles in 2013, when Pakistan was dealing with severe power shortages and was on the brink of economic collapse. However, he credited his party’s “Three Es” strategy—focusing on Economy, Extremism, and Electricity—for bringing stability. As a result of these efforts, Pakistan became the world’s 24th largest economy within just three years.
However, after 2018, economic difficulties caused Pakistan to fall to the 47th position in global rankings. Inflation surged, and by 2022, concerns about the country defaulting on its financial obligations grew. Despite these setbacks, Dar remains confident that Pakistan can recover. He emphasized that the country has abundant natural resources, including valuable minerals and hydrocarbons, which can help restore financial stability and promote long-term economic growth.
Dar also pointed out that while Pakistan is a nuclear power, it has struggled with maintaining consistent economic progress over the years. He praised the government’s efforts in preventing a default and in rebuilding international trust. One of the key indicators of Pakistan’s improved global reputation, he noted, was its recent re-election to the United Nations Security Council with 182 votes, showing strong international support.
Pakistan’s economy is moving in the right direction despite facing major challenges in the past, according to Deputy Prime Minister and Foreign Minister Ishaq Dar. Speaking at a Pakistan Business Council event, he reflected on the country’s economic struggles in 2013, when Pakistan was dealing with severe power shortages and was on the brink of economic collapse. However, he credited his party’s “Three Es” strategy—focusing on Economy, Extremism, and Electricity—for bringing stability. As a result of these efforts, Pakistan became the world’s 24th largest economy within just three years.
However, after 2018, economic difficulties caused Pakistan to fall to the 47th position in global rankings. Inflation surged, and by 2022, concerns about the country defaulting on its financial obligations grew. Despite these setbacks, Dar remains confident that Pakistan can recover. He emphasized that the country has abundant natural resources, including valuable minerals and hydrocarbons, which can help restore financial stability and promote long-term economic growth.
Dar also pointed out that while Pakistan is a nuclear power, it has struggled with maintaining consistent economic progress over the years. He praised the government’s efforts in preventing a default and in rebuilding international trust. One of the key indicators of Pakistan’s improved global reputation, he noted, was its recent re-election to the United Nations Security Council with 182 votes, showing strong international support.
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