Islamabad, Mar 4, 2025: Deputy Prime Minister and Senior Federal Minister for Foreign Affairs, Ishaq Dar, has expressed confidence in Pakistan’s economic progress, asserting that the country is on track to join the world’s developed nations.
Could potentially become part of the G20 by 2030. He urged all regulatory authorities to continue working in unison to accelerate economic growth further.
These remarks were made during the foundation stone-laying ceremony of the Competition Commission of Pakistan (CCP)’s new headquarters in Islamabad. The event was attended by Federal Minister for Law and Justice Azam Nazeer Tarar.
Finance Minister Muhammad Aurangzeb, Minister Ali Pervaiz Malik, Federal Secretary for Law and Justice Raja Naeem, CCP Chairman Dr. Kabir Ahmed Sidhu, SECP Chairman Akif Saeed, and other senior officials.
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Ishaq Dar stressed the significance of a robust Competition Commission in ensuring fair market practices and encouraging investment in Pakistan. He highlighted that cartels have formed in the country’s markets, exploiting consumers and hampering economic reforms.
He stated that the CCP’s primary duty is not only to dismantle these cartels but also to safeguard consumer rights.Addressing legal hurdles, he pointed out that while the CCP takes decisive action, stay orders issued by courts often obstruct these cases from reaching their final verdicts.
However, he expressed optimism that, under the leadership of Law Minister Azam Nazeer Tarar and Finance Minister Muhammad Aurangzeb, the CCP would achieve greater success in its regulatory mission. He also commended CCP Chairman Dr. Kabir Ahmed Sidhu for effectively guiding the commission in the right direction.
Reflecting on past economic crises, Ishaq Dar recalled that in 2013, Pakistan was viewed as a financially unstable country, with investors contemplating relocating their capital. However, he asserted that effective policies could navigate such challenges and restore economic stability.
He emphasized that Pakistan is rich in natural resources and needs to focus on utilizing its untapped potential. As a nuclear and missile power, he reaffirmed that Pakistan is on the right path toward joining the league of developed nations.
He firmly believes that if regulatory institutions work cohesively, Pakistan can achieve G20 membership by 2030. Ishaq Dar also noted that March 4 marked the completion of one year of Prime Minister Shehbaz Sharif’s tenure.
Coinciding with the groundbreaking ceremony of the CCP’s new building a symbolic achievement. He highlighted that in 2018, Pakistan was ranked as the world’s 24th largest economy, just four spots away from entering the G20.
Concluding his speech, the Deputy Prime Minister stated that certain forces are trying to push Pakistan toward economic collapse, as they are uncomfortable with its nuclear capabilities. Stressing the need for unified efforts.
He asserted that if all institutions and stakeholders worked with the same dedication as Prime Minister Shehbaz Sharif, Pakistan would soon attain economic prosperity and stability.
