Pakistan to be made 25th big economy in 10 years: Ahsan

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LAHORE, Jan 16 (APP): Federal Minister for Planning, Development and Reforms, Prof. Ahsan Iqbal on Saturday said that efforts were afoot under Vision 2025 for making Pakistan 25th largest economy of  the world in next ten years.
Addressing the three-day Pakistan Coating Show (January 15-17) here at Expo Centre, he viewed that export sector had the key to achieve this goal and private sector’s role was very crucial for expansion of exports.
He cited, “Private sector is the key for progresses and without its active participation, all the economic development projects will remain incomplete.”
The Federal Minister said, the China-Pakistan Economic Corridor (CPEC) project was a splendid gift and its successful completion could make Pakistan’s development irreversible.
Ahsan Iqbal said that Prime Minister Muhammad Nawaz Sharif had already declared that CPEC was the project of the entire nation and assured that people of all the provinces – KPK, Baluchistan, Sindh, Punjab, and FATA, AJK and Gilgit-Baltistan would benefit from
projects under the CPEC.
He also assured that western provinces- KPK and Balushitan- would not be deprived of the fruit of the CPEC projects, which would be game-changer and transform Pakistan into an economic hub for Afghanistan, Central Asian states and China.
The Federal Minister said that 2016 had been declared as ‘Year of Productivity, Quality and Innovation’ and a comprehensive awareness campaign would be launched with focus on these three factors. He called upon the industrial sector to study the local
and global markets.
“Businesses have no finish line and only those can drill out their way in the competitive market, which focus on market and lead driven studies entailing thorough research and innovation, besides ensuring consumers relationship management,” he remarked.
The Federal Minister also hinted at establishment of such institutions, which would cater to the needs of industrial sector regarding research and innovation. He added that an international brand conference would also be arranged to highlight its importance
as the brand was vital to find a niche in the markets world over.
The Federal Minister said that today, Pakistani merchandises had not only to compete in the local but also in the international markets, as the 20th century was of mere slogans but 21st century
was of economic ideology and only that country could advance at
global level that had economic development vision.
“So the entire nation must get ready and united for economic
uplift of Pakistan having largest population of youth which can
become a great demographic dividend for us but through equipping
them with education and skills,” he added.
Ahsan Iqbal said for this purpose, the PML-N government increased
the Higher Education Commission (HEC) budget to Rs 78 billion from
Rs 48 billion.
Pakistan had not good image abroad in the past due to her
existence in the war zone as well as the previous governments
hadn’t any vision for progress, but in two last years, Pakistan
turned into a peaceful state under the dynamic and able leadership
of Prime Minister Muhammad Nawaz Sharif, he said.
Ahsan Iqbal said that two year ago, the western media and global institutions had been terming Pakistan a dangerous state but today
the same media and institutions were all praise of Pakistan and
declared her as rising economy in the Asia.
He said, Pakistan’s foreign exchange reserves had touched
the record high of USD 21 billion from the lowest level of USD 6
billion two years back.
The foreign visitors would find the Pakistan Coating Show
very beneficial for them by striking business deals with their
Pakistani counterparts, he said, adding, “We will welcome warmly
foreign investors and businessmen to Pakistan.”
At the end, Federal Minister Ahsan Iqbal gave away shields to representatives of selected foreign companies. While, the Brighto
Chairman Khawaja Ejaz Ahmed Sikka, Director Khawaja Khurrum Sikka,
and Bin Rasheed Group CEO Moazzam Rasheed also spoke on the
occasion.
The Brighto Paints (Pvt.) Limited is the principal sponsor of
this year’s exhibition along with several local and multinational
industries patronizing the Show.