PIAF-Founders Al­liance pledges to im­prove LCCI role

The Pak Banker - - NATIONAL -

PIAF-Founders Al­liance has pledged to make LCCI role more mean­ing­ful in the eco­nomic pol­icy cor­ri­dors and pre­sented a seven-point for­mula to the gov­ern­ment for eco­nomic re­vival of the coun­try within short­est pos­si­ble time.

While speak­ing at an im­pres­sive gath­er­ing of the busi­ness com­mu­nity on Tues­day, lead­ers of the PIAF-Founders Al­liance said that the La­hore Cham­ber of Com­merce & In­dus­try has be­come the big­gest plat­form of the busi­ness do­ing peo­ple. Its more ef­fec­tive role in the pol­icy cor­ri­dor would not only re­solve the is­sues be­ing faced by the trade & in­dus­try but would also bridge the gap be­tween the busi­ness com­mu­nity and the gov­ern­ment.

PIAF- Founders Al­liance lead­ers Mian An­jum Nisar, Iftikhar Ali Ma­lik, Mian Muham­mad Ashraf, Syed Mohsin Raza Bukhari, Tariq Hameed, Sheikh Muham­mad Asif, Shahid Has­san Sheikh, Fa­rooq Iftikhar and nom­i­nated LCCI Pres­i­dent for the year 2015-16 Sheikh Muham­mad Ar­shad spoke on the oc­ca­sion.

Al­liance lead­ers Mian An­jum Nisar and Iftikhar Ali Ma­lik said that the coun­try was pass­ing through a very dif­fi­cult pe­riod in terms of econ­omy while the po­lit­i­cal un­cer­tainty has gripped the en­tire na­tion and to cope with the sit­u­a­tion ev­ery seg­ment of the so­ci­ety would have to play its role. They said that busi­ness com­mu­nity was ready for ev­ery sac­ri­fice for mak­ing the coun­try a hub of busi­ness and eco­nomic ac­tiv­i­ties.

To deal with un­em­ploy­ment and in­fla- tion, they sug­gested, the gov­ern­ment should im­me­di­ately di­rect the State Bank of Pak­istan to en­sure avail­abil­ity of cheaper money to the trade and in­dus­try by low­er­ing markup.

Elab­o­rat­ing his point, Mian An­jum Nisar and Iftikhar Ali Ma­lik said that by bring­ing down the markup, the gov­ern­ment ac­tu­ally would be ex­pe­dit­ing the process of in­dus­tri­al­iza­tion in the coun­try re­sul­tantly there would be more jobs for the un­em­ployed youth while in­fla­tion would also come down with the im­prove­ment of sup­ply chain of con­sumer goods.

Nom­i­nated LCCI pres­i­dent for the year 2015-16 Sheikh Muham­mad Ar­shad said that by 2030 Pak­istan will have reached 75% lit­er­acy rate. Fo­cus from pri­mary to sec­ondary ed­u­ca­tion will shift to tech­ni­cal and vo­ca­tional train­ing in ru­ral ar­eas and in the ar­eas where min­eral re­sources are found. He said that the tech­ni­cal train­ing will be trans­formed through Chi­nese sup­port in ar­eas such as min­ing, power gen­er­a­tion and pro­cessed food in­dus­tries.

Sheikh Muham­mad Ar­shad sug­gested that higher ed­u­ca­tion must be more tech­ni­cal and in­stead of send­ing our stu­dents abroad and spend­ing our for­eign ex­change in for­eign ed­u­ca­tion, lo­cal fa­cil­i­ties in tech­ni­cal in­sti­tutes must be es­tab­lished. He said that with more than 10 tril­lion dol­lars worth of nat­u­ral re­sources Pak­istan must con­cen­trate for two decades on de­vel­op­ing lo­cal tech­nol­ogy for ex­ca­va­tion of min­er­als such as cop­per, coal, iron, and gold. Trans­fer of tech­nol­ogy can take place from China in min­ing must take place at rapid pace.

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