RAWALPINDI: Encouragement of Foreign Direct Investment (FDI) is inevitable to bring Pakistan out of the current financial crisis.
Emphasizing the prioritization of export-oriented sectors and the presence of a stable government, economic experts articulated these views during a seminar named ‘Think Tank Session’ on ‘Economy of Pakistan and Future Challenges’ at the Rawalpindi Chamber of Commerce and Industry (RCCI). Dr. Ashfaque Hasan Khan (SI), a distinguished economist and Director General of the NUST Institute of Policy Studies (NIPS), graced the occasion as the chief guest.
Dr. Ashfaque Hasan Khan presented a detailed analysis of the current economic challenges, historical data, and proposed strategies to navigate through the economic obstacles. He pinpointed key sectors like textiles, IT, livestock, agriculture, energy, and mining for boosting FDI with an aim towards exports.
Commending the establishment of the Special Investment Facilitation Council (SIFC) by the government, he expressed optimism about its potential to stabilize the national economy by attracting FDI and fostering a favourable business environment. Furthermore, he underscored the significance of the China-Pakistan Economic Corridor (CPEC) in advancing trade and industrial development.
Dr. Ashfaque Hasan Khan suggested that with competent leadership and a relatively stable government, Pakistan could potentially address its economic challenges within a three-year timeframe.
Prior to Dr. Ashfaque’s presentation, RCCI President Saqib Rafiq outlined the objectives of the RCCI ‘Think Tank’ seminar, aiming to explore practical solutions to the country’s economic predicaments. Chairman of the Think Tank, Sohail Altaf, stressed the critical phase of Pakistan’s economic journey, advocating for bold and decisive actions to confront existing challenges.
Vice Chairman Raja Amer Iqbal provided insights into Pakistan’s GDP growth and debt obligations. The session concluded with an interactive question-and-answer segment where experts addressed a variety of inquiries from the audience. Noteworthy attendees included Senior Vice President Muhammad Hamza Sarosh, Vice President Faisal Shahzad, and former presidents such as Ch. Nadeem A. Rauf, members of the Executive Committee, representatives from tax bar associations, women members, and a significant number of RCCI affiliates. —APP
