Addressing the Monthly Development Update for October 2026, Iqbal said Pakistan’s merchandise exports rose by 7.7 per cent in the first quarter of the current fiscal year despite regional challenges.
Merchandise exports reached $8.5 billion between July and September, while combined exports of goods and services increased by 11 per cent. IT services exports rose to $1.2 billion, he added.
The planning minister said remittances from overseas Pakistanis increased by 14 per cent, reaching $10.9 billion during the first quarter. He said the government was working to transform Pakistan into an export-oriented economy to support sustainable economic growth.
Iqbal announced plans to prepare an export development plan for every district, aimed at connecting locally produced goods with international markets. Provincial governments have also been asked to establish boards of exports on the model of investment boards to promote exports from their respective regions.
He said Pakistan needed annual economic growth of 5 to 6 per cent to generate new employment opportunities consistently, adding that export-led growth, rather than reliance on imports, offered a sustainable path forward.
According to the minister, Federal Board of Revenue (FBR) collections increased by 7 per cent in the first quarter of the fiscal year. Scrutiny of development projects generated savings of Rs14.5 billion during the quarter, including Rs7 billion in September alone. Expenditure under the Public Sector Development Programme (PSDP) stood at Rs61.3 billion during the first quarter.
Iqbal rejected the impression that the government had reduced funding for the merged districts of Khyber Pakhtunkhwa, saying allocations had instead increased. He said Rs118 billion had been provided under the Accelerated Implementation Programme over four years, while Rs15 billion had been allocated to improve police infrastructure in the merged districts.
He stressed that a strong police structure was essential for maintaining law and order in the region. He also said a project to provide solar energy to 50,000 households in the merged districts would be launched soon on the prime minister’s instructions.
The minister called for empowered local governments, saying the transfer of authority to the grassroots level would improve public service delivery. He added that constitutional protection for local governments was necessary for an effective democratic system.
On energy policy, Iqbal said reducing electricity prices for the industrial sector remained a government priority. Measures were also being taken to curb electricity theft and reduce losses in the power system.
He said Quantum Valley Pakistan would create new opportunities in the technology sector, adding that transforming the country into a technology-driven economy was essential.
Iqbal further stated that 12.7 million people were benefiting from the government’s petroleum relief initiative. He said the prevailing crisis required prudent and cautious decisions rather than political point-scoring.