Business
Iqbal unveils $3tr economic vision | The Express Tribune
LAHORE:
Federal Minister for Planning and Development Ahsan Iqbal said on Saturday that the defence agreement between Pakistan and Saudi Arabia was an important milestone, warmly welcomed across society, but stressed that lasting national security depended on economic strength.
Speaking to the media after chairing the first meeting of Members of the Federation of Engineering Institutions of Pakistan, he said Pakistan gained more recognition and respect globally after the Marka-e-Haq (battle of truth). “We have to move forward keeping in mind future plans and challenges,” he said.
He noted that CPEC Phase-II was formally launched during Prime Minister Shehbaz Sharif’s recent visit to China. The next JCC meeting is scheduled for September 26 in Beijing, which he will attend. The minister said defence success could not last unless supported by a strong economy. “I believe the success of the Udaan Pakistan Project depends on the cooperation and role of engineers,” he remarked.
He stressed that Pakistan’s exports would rise through innovative production, industrial capacity, and modern technology. A stronger export economy, he said, required robust infrastructure, and engineers must deliver it. He added that engineers also played a central role in building a technology-based economy under e-Pakistan and in ensuring water and food security. He hoped the Federation of Engineers would play a vital role in climate action. Iqbal said Pakistan could not reverse climate change but could build resilience by reconstructing stronger infrastructure. “Hydraulic studies should be done to see how Pakistan’s water flows work and how floods can be avoided,” he suggested.
He linked high energy costs to circular debt created by inefficiencies and leakages. Engineers, he said, could fix these problems and help close a financial black hole consuming billions of rupees. “We can spend this money on education, health, and infrastructure in underdeveloped areas,” he argued.
Highlighting the global reliance on technology, he said engineers made it useful for human development. The planning ministry, he assured, would act as a bridge between government and the engineering profession. He invited skilled professionals at home and abroad to join Udaan Pakistan, a programme aligned with the aspirations of 240 million people.
He outlined two economic goals: to reach a $1 trillion economy by 2035 and $3 trillion by 2047. Pakistan’s young population, nearly 60% of the total, was central to economic planning. A national convention would soon be held with universities to launch the Pakistan 2047 Lab, he said. “Where Pakistan will be in 2047 should be identified by the young generation in whose hands the country will run,” he added. The Lab, part of Udaan Pakistan, would be inaugurated soon, with young professionals taking lead responsibility.
Referring to his recent visit to China, Iqbal said the private sector had signed agreements worth $8.5 billion, as 1,000 Pakistani and Chinese businesses had committed to joint ventures. “But if we do not provide a favourable environment, these investments will not produce results. If we allow chaos and unrest, which investor will come to Pakistan?” he warned.
He welcomed institutional unity in supporting national security and stability, saying economic development required peace. “It is equally important that we do not allow anyone to create chaos and uncertainty so that the seeds of development being sown can grow, bear fruit, and build a better future for the people of Pakistan,” he said.
Congratulating the engineering community on forming the Federation of Pakistani Engineering Institutions, Iqbal hoped it would become the country’s most powerful think tank. He said it could guide the government on development challenges by harnessing engineering manpower and talent.
The meeting was attended by a large number of engineers from across the country, including Engineer Amir Zameer Ahmed Khan, Engineer Muhammad Usman Farooq, Engineer Tahir Basharat Cheema, Engineer Sarosh Hashmat Lodhi, and Engineer Qasim Qureshi.
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Indian Railways is set to increase train fares from December 26, and this has once again put the spotlight on senior citizens. As Budget 2026 approaches, elderly passengers are hopeful that a long-withheld relief might finally return.
Business
Does Higher Income Guarantee Faster Wealth? Can You Actually Build Money Faster By Moving To UAE? CA Explains Math
New Delhi: For many middle-class families in India, a particular notion crosses their minds every few months. If people who relocate to the UAE earn more money and if location is a key factor in wealth creation. Chartered Accountant and financial advisor Nitin Kaushik recently sparked a detailed discussion on X by breaking down the actual numbers behind this notion. At the core of his post is a compelling idea that wealth is not created by crossing borders but by crossing comfort zones. Kaushik says that no destination creates wealth and only financial behavior does so.
Kaushik explains how residents working in the UAE often highlight two genuine financial advantages. The first is a lower personal income tax which increases take-home pay. In India, a Rs 2 lakh salary taxed locally may leave Rs 1.55 to 1.6 lakh in hand whereas similar earnings abroad may result in nearly complete take-home. This is due to lower personal income tax abroad. The second factor is a larger monthly savings rate. Many people save between Rs 80,000 and Rs 1.5 lakh per month by sharing accommodation and reducing expenditure. “Same markets. Same funds. Different speeds of wealth creation,” Kaushik wrote.
In the following thread, Kaushik explains in detail how geography has little bearing on wealth creation and how savings discipline does all the magic. He claims that while earning Rs 2 to 3 lakh domestically, several professionals save less than Rs 30,000 per month due to lifestyle inflation, large EMIs and premium living costs. Building Rs 1 crore at this pace will take 15 to 18 years even with strong market returns. “The contrast is not country-based and it is cash-flow based,” Kaushik said.
Kaushik claims that increased income does not ensure faster wealth. A Rs 3 lakh earner saving Rs 1 lakh builds wealth more quickly than a Rs 5 lakh earner saving Rs 40,000. What matters is the investable surplus and not the salary figure, he said.
“Is wealth really about where you work – or what you do with what you earn?”
Every few months this thought pops up in thousands of middle-class homes:
“People who go to UAE build money faster_
Is location the secret?”The truth is more layered than that – and it deserves an_ pic.twitter.com/50uByLnd8h
— CA Nitin Kaushik (FCA) | LLB (@Finance_Bareek) December 23, 2025
According to Kaushik, when expenditure is smaller than income then investing happens almost automatically. The same financial outcome can be achieved at home with modest lifestyle control, aggressive monthly SIPs, consistency across market cycles and zero dependency on “windfall thinking”.
Kaushik said that the real wealth calculation does not consider geography. Income minus expenses becomes investable capital and investable capital multiplied by time becomes net worth. “Change any one variable and the future changes,” the CA wrote.
Kaushik said, “Wealth is not built by crossing borders. It is built by crossing comfort zones. Whether earnings come from here, there or anywhere what changes lives is the habit of paying the future first.”
According to Kaushik, moving abroad may increase savings capacity but discipline alone converts earnings into freedom. In Kaushik’s words, “No destination creates wealth. Only financial behavior does.”
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Income Tax Refund 2025: Several taxpayers on the internet have, over the past few day,s alleged that they have received an email and/ or SMS from the Income Tax Department, saying that their ITR refund has been put on hold due to ‘mismatches’ in their ITR filing.
“Processing of the said return was held as it was identified under risk management process on account of certain discrepancies in the claim of refund. An email with details has also been sent to your registered email address,” the message sent to taxpayers typically reads, according to multiple screenshots shared on social media platforms by users.
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December 24, 2025, 11:34 IST
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