Pakistan Can Become a $1 Trillion Economy by 2035

In a groundbreaking interview with Express News’ talk show, The Review, Martin Raiser, the Vice President of the World Bank for South Asia, expressed his unwavering optimism that Pakistan can become a $1 trillion economy by 2035. Raiser’s comments are a beacon of hope for the Pakistani people, offering a clear vision of what lies ahead if the country pursues the right strategies and reforms.

Pakistan’s economy, which currently stands at roughly $350 billion, has the potential to experience remarkable growth. According to Raiser, achieving a $1 trillion economy is entirely within reach—provided the nation maintains an annual growth rate of 7%. While acknowledging that long-term projections come with their challenges, Raiser believes that Pakistan’s homegrown economic revival plan holds the key to unlocking this potential.

A Vision for Growth: Seven Percent Annual Growth

To reach the $1 trillion target, Pakistan would need a consistent annual growth rate of 7%. Raiser confidently stated that achieving this target is “absolutely” feasible, though he also noted that it may not be currently projected. Nevertheless, the key lies in implementing the necessary reforms that can lay the groundwork for sustained growth.

Pakistan’s economic revival is not just a dream but a goal that can be achieved through sound planning, visionary leadership, and commitment to long-term reforms. By focusing on growth sectors, such as agriculture, manufacturing, and digital industries, the country can lay the foundation for consistent economic expansion.

World Bank’s Commitment to Pakistan’s Future

The World Bank has reaffirmed its support for Pakistan’s economic ambitions, committing to provide $20 billion in the next 10 years. This funding will serve as a critical enabler for Pakistan’s development plans. Martin Raiser highlighted the importance of aligning these funds with the country’s reform agenda to maximize impact.

While the $20 billion commitment is indicative and not guaranteed, Raiser emphasized that Pakistan has access to both concessional funds from the International Development Agency and non-concessional lending from the International Bank for Reconstruction and Development. This flexibility will ensure that Pakistan can leverage the financial support in ways that best suit its needs.

Strengthening Economic Foundations: A Path Forward

For Pakistan to achieve the ambitious goal of becoming a $1 trillion economy, certain key reforms and policy changes will be essential. These include improvements in infrastructure, regulatory reforms, tax collection, and investments in human capital. Focusing on creating a conducive environment for businesses and fostering innovation will help accelerate economic growth.

Additionally, Raiser suggested that Pakistan should prioritize internal strategies over external factors. While regional trade, including ties with neighboring India, plays a role, Pakistan must focus on enhancing its own competitive edge. By improving ease of doing business and creating a favorable investment climate, Pakistan can attract much-needed foreign investments, ultimately driving economic growth.

Consulting Across the Political Spectrum: A Unified Approach

Raiser also shed light on the World Bank’s engagement with Pakistan’s political landscape. He confirmed that the World Bank has consulted political leaders across the spectrum, including the opposition, to ensure that the country’s economic revival plan is inclusive and supported by all stakeholders. This broad-based approach aims to ensure long-term stability and continuity in the country’s economic development efforts.

Such consultations will help create a unified vision for Pakistan’s growth, with all political parties working together to implement necessary reforms. A collaborative approach will be crucial in achieving the set targets and ensuring the sustainability of progress over the years.

A Bright Future for Pakistan: An Invitation to Engage

Pakistan’s path to becoming a $1 trillion economy by 2035 is an exciting journey that can significantly uplift the nation’s people. As the country pursues this ambitious goal, it is essential that every citizen, from policymakers to entrepreneurs, plays a role in realizing this vision.

Through sustained efforts, forward-thinking reforms, and strategic investments, Pakistan can emerge as a global economic powerhouse. As Raiser said, “Pakistan has the potential to not only grow but thrive.” The time is now for Pakistan to capitalize on its strengths and build a prosperous future.

Conclusion: A Call to Action for All Pakistanis

The opportunity for Pakistan to become a $1 trillion economy by 2035 is within reach. With the right reforms, investments, and collaboration, the country can unlock its full potential and pave the way for a brighter, more prosperous future. Pakistanis everywhere—whether in business, government, or communities—are invited to join in this journey of growth and transformation.

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Source: Express News

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Call-to-Action: Share your thoughts on Pakistan’s future growth. Do you believe the $1 trillion goal is achievable? Comment below and join the conversation!