Musadik Malik says ending special subsidies is key to economic reforms

ISLAMABAD: Federal Minister for Climate Change Musadik Malik has said that abolishing special subsidies on electricity, gas and taxes for a select class is essential for meaningful economic reforms in Pakistan.

Addressing the Pakistan Policy Dialogue, Musadik Malik said that sustainable economic growth cannot be achieved unless unequal concessions are withdrawn and the economy is placed on a fair and competitive footing. He added that increasing exports remains the only viable path to long-term economic stability.

The federal minister said that the government’s reform measures have already led to improvements in key economic indicators, but stressed that deeper reforms are required to ensure inclusive growth.

He emphasised that prosperity depends on enhancing productivity and adopting environmentally friendly economic policies. According to him, real development is only possible when all citizens are provided equal opportunities to work and grow.

Musadik Malik noted that at present, access to economic prosperity in Pakistan is largely restricted to those with power and influence, which must change for the country to move forward.

Highlighting the role of the private sector, he said the state should act as a facilitator rather than running businesses itself. He added that privatisation should not be viewed as an ideological move but as a practical tool to address market inefficiencies and strengthen the economy.