LAHORE: Federal Interior Minister Ahsan Iqbal has said that China-Pakistan Economic Corridor (CPEC) is opening up new horizon of development to the world.
He said, “It is a matter of great pleasure that massive investments under CPEC is further strengthening Pak-China friendship, which is sweeter than honey, higher than stars and deepest than the Ocean.”
He expressed these views while addressing at a dinner of 3rd CAC Pakistan Summit and Expo, arranged by Lahore Chamber of Commerce and Industry (LCCI) here at Lahore Expo Centre.
Governor Punjab Muhammad Rafiq Rajwana, LCCI President Malik Tahir Javaid, Senior Vice President Khawaja Khawar Rasheed, Vice President Zeshan Khalil, Director China Council for Promotion of International Trade Isabel Dong, Chairman Pakistan Crop Protection Association (PCPA) Saad Akbar and a large number of businessmen were also present.
The federal minister said that economic crisis is one of the major challenges facing the world and Pakistan is passing through crucial times of its economic history.
Ahsan Iqbal was of the view that this is an age of innovation where changes took place frequently, and “we need to develop ourselves as per requirements of the world because the nature of today’s challenges is global and challenges have no boundaries.”
He said that today we need to promote trade with the international communities instead of relying on the loans for economic development. The country’s economy had collapsed in year 2013 when no one was ready to invest in Pakistan, but now it is making progress, he said and added that all economic indicators were showing positive improvements. He mentioned that power generation had been enhanced only up to 16000MW from 1947 to 2013, the present government had so far added 7000MW capacity to the national grid, while another 3000 would soon be incorporated into the system.
Governor Punjab Muhammad Rafiq Rajwana said that consistency in economic policies are indispensable for the progress of the country, he said while predicting that Asia would make up 50 per cent of the world economy by 2025. He said that Asia, South Asia, Central Asian states and China are engines of economic growth, and Pakistan is situated at the crossroad of these engines of growth. In this context, he said, that Pakistan would have to get optimum benefit of its geographical location for which political stability and peace was of immense importance.
LCCI President Malik Tahir Jvaid said it is a matter satisfaction that Pakistan is rapidly gaining the attention of foreign investors and emerging as trade and investment hub. It should be ensured that gains should not go vain. He said that consultation in policy formulation will boost confidence of the business community and it would also help achieving economic targets for the ongoing financial year.
About agriculture of Pakistan, Malik Tahir Javaid said that genetically modified crops have an important role to play in lessening the environmental impact and improving the sustainability of food production.
He said that Pakistan’s agriculture sector is losing heavily due to insufficient utilization of biotechnology as the magic progress of worldwide- agriculture sector is only due to Genetically Modified crops.
He said that agriculture sector in Pakistan has a huge potential. It continues to be the single largest and dominant driving force for growth as well as the main source of livelihood for around 70 per cent of Pakistan’s population. But it has always faced two major problems: first, productions per acre are lower than many countries. Secondly, around 40% of production is wasted in the form of post-harvest losses due to insufficient utilisation of biotechnology.
The LCCI President hoped that CAC Pakistan would help Pakistani agriculture sector in technology transfer and it would be able to overcome its miseries.
In the first session, the provincial Secretary Agriculture Muhammad Mahmood gave a detailed presentation on Punjab Agriculture potential. – APP
Story first published: 5th December 2017