LAHORE, Oct 09 (APP):Federal Finance Minister Shaukat Tareen said on Saturday that present government was working out short, medium and long-term projects to revive the dwindled economy of the country.
He was addressing as chief guest at an alumni dinner organized by Punjab University’s Institute of Business Administration (PU-IBA). The dinner was also attended by PU Vice Chancellor Prof.
Dr. Niaz Ahmed, Pro Vice Chancellor Dr. Saleem Mazhar, IBA Director Dr. Muqaddas Rehman, Alumni Association President Athar Ehsan and other eminent personalities from the field of business administration.
Shaukat Tareen added that all the stakeholders were taken on board for success of the projects and implementation of these projects would definitely strengthen the country’s overall economy.
Federal Finance Minister was of the view that durable investments in various fields were indispensable for speedy economic growth of a country, adding that Foreign Direct Investment (FDI) was in a way linked with enhanced exports volume.
More exports of a country means more foreign direct investments in that country, he argued. He said that Prime Minister Imran Khan was an honest and upright man who always thinks of the betterment of the poor and on this count the PM had taken numerous initiatives to improve financial situation and living standard of poor segments of the society.
Around four million families would benefit through Kamyab Pakistan programme.
He said that Pakistan had since long been facing difficulties for revenue collection, however, the PTI government was putting in order comprehensive measures to streamline the revenue collection and other fiscal matters.
He mentioned that Pakistan was the fourth largest economy in Asia in 1968, but later, the country’s economy started collapsing due to many reasons, asserting that institutions had nationalized when industries were to be set up and in 1973, an important institution like the Planning Commission was destroyed.
Tareen added that Pakistan had still been suffering the consequences of joining the Afghan war in 1979 and ‘after 9/11 incident, we had also suffered irreparable losses in the war on terror.’
Shaukat Tareen said that he had studied at Punjab University IBA in 1973, adding, “Punjab University IBA is an institution with excellent educational traditions, and this institute is playing an eminent role in the development of the country’s economy.” He assured that PU IBA would be provided all possible help and support.
Federal Finance Minister said that IBA Director Dr. Muqaddas Rehman should promote relations with industries. The Punjab University should also further promote research projects in collaboration with industries, he emphasized.
He also lauded the work and efforts of Prof. Khawaja Amjad Saeed for the development of the institution.
On this occasion, Vice Chancellor Prof. Dr. Niaz Ahmed said that Punjab University’s international ranking had improved by 16 percent in a short span of three years. For the first time, he mentioned, 13 subjects of Punjab University had joined the international rankings.
In his address, Dr. Muqaddas Rehman said, “Punjab University holds first international conference under IBA that is playing a role in solving the problems of business and society.”