New finance bill to help put country on path of economic development: President

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ISLAMABAD, Jan 30 (APP):President Dr Arif Alvi on Wednesday said with the results of government’s prudent policies already started coming in, he was confident that the new finance bill presented by the government in the National Assembly would put the country on the path of economic development.
He was addressing a function held here at the Aiwan-e-Sadr under the auspices of Rawalpindi Chamber of Commerce and Industry (RCCI).
Besides a large number of business and industry representatives as well as the office-bearers of RCCI, the function was also attended by federal ministers, members of parliament and Islamabad-based diplomats.
The President said reduction in trade deficit and increase in exports were a good omen for the country’s economy while the government’s measures for boosting textile exports were also encouraging.
He, however, added that since skills’ education was vital to compete in the international market, there was a need to put special focus on technology-based knowledge economy.
The President said maximum and appropriate utilization of natural resources would have to be ensured to achieve economic development.
He said the development of fisheries sector could enable the country to earn up to US $ 10 billion per annum.
The President said that improved security situation would help promote tourism in the country, adding, over 2.5 million tourists visited Gilgit Baltistan during the last one year.
He said Pakistan was an attractive destination for investors. It wanted good relations with all neighbouring countries.
The President expressed his hope that peace would restore in Afghanistan soon. Pakistan, which was hosting Afghan refugees over the last couple of decades, desired peace and stability in the brotherly country, he added.
He said the Kargil Company was bringing in US $ 100 million of investment in Pakistan. He hoped that a corruption-free Pakistan would achieve the milestones of development on fast pace.
The President said that the establishment of Special Economic Zones (SEZs) and Industrial Parks under the China Pakistan Economic Corridor (CPEC) would help promote industry and create job opportunities.
He said urged the businessmen and industrialists to play their role for bringing a good name for Pakistan.
The President lauded the country’s armed forces for their achievements in the fight against terrorism.
Advisor to PM on Commerce Abdul Razak Dawood, while speaking on the occasion, said the country, which was facing severe economic challenges including the balance of payment issue, had been put on the right direction by the present government under the great leadership of Prime Minister Imran Khan.
He said with major investments coming to country over the next months and economic indicators showing positive trends, he foresaw a changed and new Pakistan by the next one year.
RCCI President Malik Shahid Saleem, in his welcome remarks, highlighted the role of Rawalpindi Chamber of Commerce and Industry in promoting business to business relations with various countries through holding business forums abroad.
He also lauded the present government for its business-friendly policies and in this respect particularly mentioned the recent finance bill which offered various incentives to business and industry.