Political consensus, reforms vital for growth and poverty reduction: Qaiser Sheikh

ISLAMABAD, (APP - UrduPoint / Pakistan Point News - 17th Jun, 2026) Federal Minister for Investment Qaiser Ahmed Sheikh on Wednesday said political consensus, structural economic reforms and investment-friendly policies are essential to reduce poverty and accelerate Pakistan’s economic growth.

Participating in the National Assembly budget debate, he said all political leaders and governments had contributed sincerely to national progress.

However, he added that poverty levels had risen over time, stressing the need to examine why sustained economic stability remained elusive despite repeated efforts.

Citing international examples, he said countries like China had lifted hundreds of millions out of poverty through long-term planning, investment in education and skills development, and consistent economic policies.

He said Pakistan’s large youth population should be viewed as a major asset rather than a burden.

“Our youth constitute a key strength of the country, but they must be equipped with education, technical skills and employment opportunities to fully realise this potential,” he added.

The minister said nearly 60 percent of Pakistan’s population comprised young people, arguing that the country’s future depended on investing in human capital and youth development.

Highlighting the role of small and medium enterprises (SMEs), he described them as the backbone of economic growth and employment generation.

He urged policymakers to strengthen support for entrepreneurs, farmers and small businesses to reinforce the national economy.

Qaiser Sheikh also called for greater political harmony, saying national development required cooperation among all political forces instead of prolonged confrontation.

Referring to regional and global developments, he said Pakistan had shown unity during times of challenge.

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He cited the recent Pakistan-India tensions, saying the country had responded with collective resolve.

He also mentioned Pakistan’s constructive diplomatic role during Iran-US tensions, saying it was acknowledged internationally.

Recalling past economic performance, he said Pakistan had once been regarded as a regional model for development and had guided other countries in economic management and business practices.

However, he added that several countries that were once behind Pakistan had now advanced significantly due to policy continuity, investment openness and export-led growth strategies.

The minister said excessive regulations and complex approval processes remained major obstacles for investors.

He stressed the need to simplify procedures, reduce regulatory burdens and create a more business-friendly environment to attract both domestic and foreign investment.

He added that economic development could not rely on remittances alone and underlined the importance of generating productive employment opportunities within the country.

Qaiser Sheikh also called for greater investment in vocational training and education to enable young Pakistanis to compete effectively in local and international labour markets.

Expressing optimism, he said Pakistan had vast economic potential supported by abundant natural and human resources.

He said that with political cooperation and a long-term national vision, the country could achieve sustained growth and improve living standards.

He urged all political parties to rise above partisan differences and work collectively for national prosperity, saying development should remain a shared objective of all stakeholders.

APP/tsw-man-zah