Economic stability linked to cohesion among political, social institutions: President

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ISLAMABAD, Dec 19 (APP): President Mamnoon Hussain Saturday said that the economic stability could not be achieved without cohesion among the country’s political and social institutions.
Addressing the concluding session of three-day conference on ‘Vision 2025:

Effective Strategies for Transformational Growth’ held by Pakistan Institute of Development Economics here, he said the the Vision 2025 addressed the subject of pursuing development goals by creating harmony among different
institutions.
Lauding the role of Pakistan Society of Development  Economists for the country’s economic stability and public prosperity, the President hoped that the conference would help carry forward the same goals.
He observed that the recommendations coming out of the conference could help promote good governance by ensuring institutional reforms. This goal could only be achieved by investing in the fields of education, health and human resources, he added.
The President was satisfied to note that economic experts were also paying attention to the issues reasoned by climate change and energy crisis. In this way, any loss to the components of the national economy, including
agriculture, industry, food safety as well as the business could be averted, he added.
He said in the past, various factors, including law and order situation, political instability besides other infrastructural issues confronted the national economic progress.
“I am pleased to say that Pakistani nation has braved all these challenges boldly and sagaciously. The sacrifices rendered by our armed forces and law enforcement agencies and their performance also remained praiseworthy.

Consequently, the lawlessness pervading different parts of the country, terrorism and extremism are now receding. Law and order situation is improving gradually,” the President remarked.
He said consequently, the trust of the investors was reviving and the economic activities were also increasing. President Mamnoon said likewise law and order, the national prosperity and economic stability were also linked with the political situation.

The political ups and downs occurred frequently in the developing countries which begot uncertainty thus decelerating the economic growth, he added.
However, the President said the country’s political situation remained encouraging and except few minor crises, no upheaval hit the national economy.
He assured the audience, comprising the economists coming from across the country, that the country would see further improvements in the years to come and the economic indicators would also bring positive news.
The President said  better economic infrastructure could only bring in meaningful development in the fields of industry, agriculture and other sectors. But unfortunately, the sector faced neglect in the past that affected the productivity and exports besides increasing the cost of production.
He said the government was addressing this issue as availability of skilled manpower was improving.
Terming China Pakistan Economic Corridor ‘Monument of the Century’, the President said after its completion, Pakistan would be able to benefit its geographical importance that would also bring stability to the national economy.
He said the Central Asian states were mulling to link their infrastructural projects with the CPEC. He also called for national unity to ensure completion of this historic project and stand united against the obstacles in this regard.
He advised the youngsters to pursue their goals with passion and ambition.
Minister for Planning, Development and Reforms Ahsan Iqbal and Vice Chancellor Pakistan Institute of Development Economics Dr Asad Zaman also addressed the conference.
Later, Ahsan iqbal also presented a souvenir to the President.