Karachi, September 19, 2026: Federal Minister for Board of Investment Qaiser Ahmed Sheikh has stressed the need to accelerate Pakistan’s economic growth through increased investment, export expansion, industrial development and regulatory reforms, while highlighting Karachi’s central role in the national economy.
Addressing a press conference at the Karachi Press Club on Saturday, the minister described Karachi as Pakistan’s economic hub and said the city’s contribution to the national economy warranted greater recognition.
Recalling his tenure as president of the Karachi Chamber of Commerce and Industry in 1987, Sheikh said he had a longstanding understanding of the issues and challenges confronting the city.
According to figures cited by the minister, Karachi contributes around 60 percent of the country’s revenue. He said the city should be accorded political importance commensurate with its economic contribution.
Sheikh said Pakistan’s economic progress required sustained focus on investment, industrial activity and exports, noting that countries around the world had achieved economic development by strengthening their export sectors.
He stressed that Pakistan needed to expand its export base to generate sustainable economic growth and employment opportunities. Increasing exports, promoting investment and facilitating businesses were essential for expanding economic activity and improving livelihoods, he added.
The minister said Pakistan’s diplomatic outreach should be translated into concrete economic opportunities through stronger international engagement aimed at attracting investment, expanding exports and generating employment.
Referring to Pakistan’s recent diplomatic and security developments, Sheikh said the efforts of Field Marshal Syed Asim Munir and Prime Minister Shehbaz Sharif had received international attention and should now be complemented by stronger economic engagement.
He said the economic sector had to play its role in strengthening Pakistan’s overall national standing by focusing on economic development, investment and export growth.
Sheikh also highlighted Pakistan’s upcoming engagement with the World Economic Forum. He said the forum had invited the Pakistani delegation during the United Nations General Assembly session and that a meeting was scheduled for September 23 to discuss Pakistan’s economic development, investment potential and opportunities for enhanced international cooperation.
“The purpose of our engagement is to discuss Pakistan’s economic development at the World Economic Forum Sustainable Development Impact Meetings and present the opportunities available in Pakistan,” he said.
The minister said the Board of Investment was working with relevant institutions to reduce unnecessary regulations and address regulatory impediments affecting businesses and investors.
He stressed the need for an investor-friendly regulatory framework to attract both domestic and foreign investment, saying the Board of Investment would continue identifying unnecessary regulatory requirements and simplifying the business environment.
Sheikh said coordinated efforts were under way to improve ease of doing business and create conditions in which investors and businesses could operate more efficiently.
Discussing the regional economic and security environment, the minister referred to defence expenditure in India and Pakistan, stating that India’s defence budget stood at approximately $85 billion, while Pakistan’s defence budget had increased to around $10.5 billion during the current fiscal year.
He also highlighted Pakistan’s poverty and employment challenges, saying around 120 million people had fallen below the poverty line. He said the situation underscored the need to increase economic activity, investment, exports and employment opportunities.
Sheikh called for a collective and sustained national effort to strengthen productive sectors of the economy, saying investment and export growth could help create jobs and expand economic opportunities.
The minister also spoke about his own tenure in public office, stating that he had not drawn any salary from his ministerial position for the past two and a half years. He further claimed that he had paid taxes amounting to tens of millions of rupees during the period.
Sheikh reiterated that Pakistan’s economic agenda should focus on investment facilitation, export expansion, industrial growth, employment generation and regulatory simplification.
He said the Board of Investment would continue working to facilitate investors and create a more conducive environment for businesses, while Pakistan’s growing international engagement should be translated into tangible economic outcomes.
He added that his participation in the World Economic Forum Sustainable Development Impact Meetings on September 23 would focus on presenting Pakistan’s economic potential, exploring investment opportunities and promoting international cooperation for sustainable economic development.
