LAHORE: Interior Minister Ahsan Iqbal on Saturday ruled out any confrontation among state institutions, saying some people wanted to create misgivings to propel their political agenda.

Speaking to media after attending International Business Conference and Exhibition here at Expo Centre, Iqbal said the country's economy had suffered a lot owing to political developments in the past four years.

The Panama Papers case inflicted a loss of around 40 billion dollars on stock market, the minister claimed.

The country's economy had collapsed in year 2013 when no one  was ready to invest in Pakistan, but now it was making progress, the Interior Minister said and hoped if it continues to progress at the current pace, the country would be among the world's twenty largest economies by 2025.

All economic indicators were showing positive improvements, he further said.

Consistency in economic policies was indispensable for the progress of the country, he said while predicting that Asia would make up 50 percent of the world economy by 2025.

Referring to the criticism on the government over borrowing loans, the minister said that loans were taken for the development of the country.

Without stability and peace, development was not possible, Iqbal further said. About next general elections, he said, the polls would be held at scheduled time in 2018.

Earlier, the minister addressed at the inaugural session of 2nd International Business Conference and Exhibition.

He said that perpetrators of doom and gloom were not sincere with Pakistan.

He said that while international institutions were giving credit to Pakistan for economic reforms and progress, it is unfortunate that some talk shows were portraying a negative picture of the country.— APP