ISLAMABAD – Federal Minister Ahsan Iqbal has officially launched a new national movement aimed at revitalizing Pakistan’s economy by harnessing the innovative spirit of its youth. The “Pakistan One – National Business Plan Competition for Export Excellence” is a groundbreaking initiative designed to channel the creativity of young people into globally competitive business ventures.
Speaking at the launch ceremony, Minister Iqbal underscored the critical role of young people in shaping the country's future. He described Pakistan One not merely as a competition but as a "nationwide movement" to empower youth, foster self-employment, and drive innovation across all provinces and regions.
The program operates under the new URAAN five-year plan, with ambitious targets to engage over 10,000 aspiring entrepreneurs. It aims to collect more than 1,000 business plans and provide mentorship and training to at least 500 of them to help them become scalable projects. To incentivize top-tier innovation, a historic $5 million Grand Prize will be awarded to the most promising ventures, providing the capital needed to transform a groundbreaking idea into a reality.
Minister Iqbal emphasized the strategic necessity of this initiative, stating that Pakistan must shift from a "job-seeking economy to a job-creating economy." He identified innovation, technology, and industrialization as the new cornerstones of national development. While Pakistan's exports have remained relatively stagnant for years, hovering between $27 billion and $32 billion, with a heavy reliance on textiles, the minister pointed to high-growth sectors like IT and software services, which are expanding at 15-20% annually and are projected to surpass $20 billion in exports by 2030. Other promising sectors with strong export potential include agri-tech, food processing, renewable energy, and sustainable manufacturing.
Highlighting Pakistan's unique geostrategic location, Iqbal noted that the country has an unparalleled opportunity to serve as a hub connecting South Asia, Central Asia, and the Middle East. He also stressed the importance of the digital revolution, citing the e-Pakistan initiative which is developing new systems in fintech, agri-tech, and greentech. He concluded by reiterating the vision to build a Pakistan that is a global symbol of progress, innovation, and confidence.
