Ahsan Iqbal urges ADB to help expand, diversify Pakistan’s exports

ISLAMABAD: Minister for Planning, Development and Special Initiatives Ahsan Iqbal said on Thursday that Pakistan’s economic stabilisation will only be sustainable if it is driven by exports rather than debt, calling on the Asian Development Bank (ADB) to help draw up a strategic roadmap to expand and diversify the country’s exports.

“Stabilisation will only be true stabilisation when it is not on the back of debt. Only exports can give us the legs to grow,” Iqbal said during a meeting with ADB Vice President (South, Central and West Asia) Yingming Yang in Islamabad.

Iqbal described export-led growth as critical to Pakistan’s economic future and sought ADB’s technical expertise and international best practices to develop a comprehensive strategy for expanding and diversifying exports.

He said that the proposed roadmap could draw on the ADB’s technical support provided during the preparation of Vision 2010, describing that assistance as a landmark contribution to Pakistan’s development planning.

The minister said that the government aimed to transform Pakistan into a $1 trillion economy by 2035, adding that Prime Minister Shehbaz Sharif was committed to removing structural bottlenecks and reforming key sectors, including industry, food security, commerce and foreign affairs.

Iqbal said Pakistan’s economic turnaround between 2022 and 2026 could serve as a case study for developing economies, while urging the ADB to maintain close and continuous coordination on development projects to ensure they remained aligned with the government’s priorities under the “URAAN Pakistan” framework.

Focus on climate resilience, water security

The meeting also focused on climate adaptation and water security as Pakistan faces increasingly severe and erratic rainfall.

Iqbal called for ADB support in developing localised water-management infrastructure, including small dams, reservoirs and retention ponds, particularly in areas where large volumes of rainwater are currently lost through drainage.

“We need to seriously consider developing small dams, water reservoirs, and retention ponds to store rainwater,” he said, adding that stored water could help protect cities, support agriculture and strengthen Pakistan’s water security.

He also highlighted the challenges posed by sudden transboundary water inflows and called for stronger infrastructure and planning to deal with such events.

Iqbal separately sought ADB technical assistance in developing a sustainable tourism management framework for Gilgit-Baltistan, where rising visitor numbers are putting increasing pressure on the region’s fragile ecosystems.

ADB reaffirms support

Yang reaffirmed the ADB’s support for Pakistan’s development priorities under URAAN Pakistan, including institution building, climate resilience and long-term sustainable growth.

The ADB vice president also invited Iqbal to lead Pakistan’s delegation to the **25th CAREC Ministerial Conference**, scheduled to be held in Ulaanbaatar, Mongolia, on September 29-30. Iqbal accepted the invitation.

The meeting comes as Pakistan seeks to shift from short-term economic stabilisation towards sustained, export-led growth, with the government increasingly emphasising structural reforms, economic diversification and stronger integration with regional and global markets.