Ahsan Iqbal Advocates PQI to Tackle Pakistan's Economic Challenges

In recent times, Pakistan has been grappling with significant economic challenges, primarily due to a lack of sufficient investment. The country’s economic landscape has been marked by stagnation, prompting experts and policymakers to seek effective solutions. One such solution, as highlighted by Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal, is the enhancement of productivity, quality, and innovation (PQI). This approach is being viewed as an ‘instant solution’ to the pressing economic difficulties that the nation faces.

During a summit titled “Driving Growth through Excellence in Productivity, Quality, and Innovation,” organized by the Ministry of Planning, Development and Special Initiatives, Professor Ahsan Iqbal emphasized the importance of PQI as essential drivers for sustainable economic growth. He pointed out that in the absence of the required volume of investment, focusing on these three pillars could significantly improve Pakistan’s global competitiveness.

Increased productivity refers to the ability to produce more goods and services with the same amount of resources. This can be achieved through better management practices, advanced technologies, and skilled labor. Quality, on the other hand, ensures that the products and services meet certain standards, which can lead to higher customer satisfaction and loyalty. Lastly, innovation involves creating new ideas, products, or methods that can help businesses stay ahead in a competitive market.

Professor Iqbal’s remarks resonate with the urgent need for Pakistan to adapt and evolve in a rapidly changing global economy. By prioritizing PQI, the country can not only address its current economic woes but also lay a solid foundation for future growth. This strategy could lead to job creation, increased exports, and ultimately, a more robust economy.

While the road ahead may be challenging, the focus on increased productivity, quality, and innovation presents a viable pathway for Pakistan to overcome its economic hurdles. By embracing these principles, the nation can enhance its competitiveness on the global stage and ensure a brighter economic future for its citizens. It is crucial for all stakeholders, including the government, businesses, and educational institutions, to collaborate and foster an environment that encourages these essential elements of growth.