ISLAMABAD, May 22 (APP/DNA):Minister for Planning, Development and Special Initiatives Ahsan Iqbal on Thursday stressed that innovation and industrial productivity were essential drivers of sustainable economic growth of any country.

The minister, addressing the 17th All Pakistan Chambers Presidents Conference here, also called for an urgent need to strengthen Pakistan’s export sector, praising the quality of Pakistani products.

“Despite the high quality of our products, our export volume remains low,” he said. “The individuals who generate foreign exchange are the true earning power of Pakistan’s economy.”

The minister stressed the importance of equipping chambers of commerce with training programs to help maintain and expand their export capabilities.

He said that Pakistani businesses can only gain global market access through technological advancement, observing that modern warfare and competition now take place in the realm of innovation.

“To stay competitive, we must reinforce our academic institutions and align them with industry needs to achieve economic development in line with our national income.”

Ahsan Iqbal said the people would have to pay taxes if they want to fulfil their dream of a European standard of living.

He pointed out that a significant portion of national income is consumed by debt repayment, and stressed the need to tackle tax evasion head-on.

He said the tax evaders must be held accountable to avert the burden from the honest taxpayers.

The minister assured the business community to convey the chambers’ recommendations to the prime minister, reiterating the government’s commitment to creating a conducive environment for private sector growth.

Commending the country’s recent accomplishments and historic victory against India during Marka-e-Haq, he said, “Pakistan is a peace-loving country with no aggressive designs. Yet, the world has witnessed the resilience and self-reliance of our people. Our defense remains invincible.”