Navy team told of na­tional eco­nomic well-be­ing

The Pak Banker - - NATIONAL -

87-mem­ber del­e­ga­tion of 45th Course of Pak­istan Navy War Col­lege vis­ited the La­hore Cham­ber of Com­merce & In­dus­try to get aware­ness about the role of busi­ness com­mu­nity for eco­nomic well be­ing of the coun­try.

The LCCI Se­nior Vice Pres­i­dent Al­mas Hy­der Al­mas Hy­der ad­dressed the del­e­ga­tion that was headed by Rear Ad­mi­ral M. Am­jad Khan Ni­azi. The LCCI Ex­ec­u­tive Com­mit­tee Mem­bers were also present on the oc­ca­sion. Al­mas Hy­der said that only eco­nom­i­cally strong coun­tries could play lead­ing role at global level. Busi­ness com­mu­nity of the coun­try is well versed of the fact and uti­liz­ing its best abil­i­ties for eco­nomic up­lift of the coun­try. He said that de­spite hav­ing all kinds of re­sources, we are not there where we should be there­fore we have to take full ad­van­tage of our best strate­gic lo­ca­tion and vast min­er­als. The LCCI Se­nior Vice Pres­i­dent shared his ex­per­tise with the vis­it­ing of­fi­cers on eco­nomic chal­lenges, en­ergy, fed­eral bud­get, trade deficit, Pak-China Eco­nomic Cor­ri­dor and mil­len­nium de­vel­op­ment goals. He said that Pak­istan has the abil­ity, not only be­come the re­gional leader but can also play a de­ci­sive role at global level.

He said that strong pub­lic-pri­vate part­ner­ship can help sur­mount­ing the un­prece­dented eco­nomic chal­lenges be­ing faced by the coun­try. The La­hore Cham­ber of Com­merce and In­dus­try would con­tinue its un­tir­ing ef­forts in this re­gard. He said that the La­hore Cham­ber of Com­merce and In­dus­try aims to pro­mote trade and in­vest­ment in the coun­try through en­act­ing upon the poli­cies of the govern­ment and se­cur­ing a busi­ness friendly en­vi­ron­ment in the coun­try. Al­mas Hy­der said that the La­hore Cham­ber of Com­merce and In­dus­try also tries to se­cure a busi­ness-friendly en­vi­ron­ment through shar­ing views with the govern­ment. The pri­mary ob­jec­tive of LCCI is to pro­tect the in­ter­ests of the busi­ness com­mu­nity while re­main­ing com­mit­ted to the cause of de­vel­op­ment of the coun­try.

He said that there are a num­ber of is­sues that must be tack­led on pri­or­ity, the big­gest one is how to keep the mo­men­tum of growth in the wake of a less than tar­geted growth of the Agri­cul­ture and the Man­u­fac­tur­ing sec­tor. The se­cond one is the widen­ing gap be­tween ex­ports and im­ports that could be con­tained by re­duc­ing im­port of lux­ury items. He said that the cut in the low in­put cost would make Pak­istani prod­ucts com­pet­i­tive in the in­ter­na­tional mar­ket where Pak­istan was loos­ing the in­ter­na­tional mar­kets to China, In­dia and even Bangladesh.

He stressed the need for de­vel­op­ing re­gional, prod­uct spe­cific and tar­get ori­ented mar­ket­ing strat­egy. New mar­kets and new prod­ucts need to be ex­plored to re­duce coun­try's de­pen­dence on few com­modi­ties and coun­tries. He said that Pak­istan's ex­ports are highly con­cen­trated in few items. Such con­cen­tra­tion in few mar­kets can also be­come a source for in­sta­bil­ity in ex­port earn­ings. He said that af­ter through de­bate that feed­back is re­fined and af­ter ap­proval from Ex­ec­u­tive Com­mit­tee is sent in the form of Bud­get Pro­pos­als to Min­istry of Fi­nance and Eco­nomic Affairs for con­sid­er­a­tion at the time of prepa­ra­tion of the Fed­eral Bud­get.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.