LAHORE: Pakistan Industrial and Traders Associations Front (PIAF) Wednesday called for a mechanism to strengthen relations between public and private sector institutions to pave way for economic growth at a faster pace and for a longer period.
PIAF Chairman Malik Tahir Javaid said that the Front was making all out efforts for bringing public, private sectors institutions on the same page to ensure consistency of economic policies. He said that it was need of the hour to bring sector specialists at one platform to utilise their expertise for the good of the country.
While stressing the need for strengthening of institutions for being a prerequisite to economic stability, progress and prosperity, Malik Tahir Javaid said that no country could ever achieve its aims and objectives until and unless it had a strong system backed by strong institutions as weak institutions were bound to expose the country to all types of problems including economic and social.
The PIAF chairman said that Pakistan was a land of opportunities. It has no dearth of talent. More than half of its population is below the age of 25. Its available workforce is around 85 million. It has all the four weather season with huge tracts of fertile land. Coal reserves among top five in the world the worth of these reserves in international market goes into trillions of dollars. The copper reserves declared by the state amount to more than a trillion dollars in international markets. Gold and precious stones available in the region has tremendous potential amounting to 700 billion dollars. Its dairy sector production is fifth in the world ranking. Its tourism sector has a huge potential under explored due to law and order situation.
He suggested that the agriculture sector must now be upgraded into process and semi-process industry. The value addition for our agricultural produce should go beyond the dependence on cotton textile. Cooked and semi-cooked food should become the main engine of growth.
He said that Pakistan could be workshop of the world provided its workforce properly trained. He said that Pakistani could get rid of IMF and World Bank by building water reservoirs including Bhasha and Kalabagh Dams. He said that $ 3 billion could be saved only through the completion of Kalabagh Dam and up to 40% of oil import bill could be curtailed if this project is given go ahead by building political consensus.
Malik Tahir Javed lauded the efforts of Chief Minister Punjab Mian Shahbaz Sharif for turning Punjab into hub of trade and economic activities.
PIAF Senior Vice Chairman Khamis Saeed Butt, Chairman LTIA Ch. Zaheer Bhutta and President Kattar Band Road Industries Association Syed Mahmood Ghaznavi were also present on the occasion.
KARACHI: Foreign offloading and conflict between brokers and regulator dragged trading at Karachi ...