“The developed countries ensured political stability before becoming economic giants, but unfortunately, we could not do so,” he said while speaking to participants of a seminar, organised by the General Electric (GE) here.
He said the dictatorial regimes were also unable to bring about any significant industrial growth.
The minister pointed out that poor infrastructure and insufficient investment in energy and human resource were also main factors for economic instability.
Ahsan Iqbal informed that when PML(N) government took over, the country was facing energy crisis and terror attacks in some parts.
But after three years, loadshedding had significantly been reduced while security situation had also improved.
He said the economic indicators were on positive trajectory while forex reserves had doubled.
Ahsan Iqbal expressed the confidence that China-Pakistan Economic Corridor (CPEC) would prove game-changer.