LAHORE: The present government was working out short-, medium- and long-term projects to revive the dwindled economy of the country, a senior government official said.
Addressing as the chief guest at an alumni dinner organised by the Punjab University’s Institute of Business Administration (PU-IBA), Federal Finance and Revenue Minister Shaukat Tarin said that all the stakeholders were taken onboard for the success of the projects and implementation of these projects would definitely strengthen the country’s overall economy.
The minister said that durable investments in various fields were indispensable for speedy economic growth of a country, adding that the foreign direct investment (FDI) was in a way linked with the enhanced exports volume.
More exports of a country means more foreign direct investments in that country, he said, adding that Prime Minister Imran Khan was an honest and upright man who always thinks of the betterment of the poor and on this count he has taken numerous initiatives to improve the financial situation and living standard of poor segments of the society.
Around four million families would benefit through the Kamyab Pakistan programme, he said, adding that Pakistan had since long been facing difficulties for revenue collection; however, the PTI government was putting in order comprehensive measures to streamline the revenue collection and other fiscal matters.
He said Pakistan was the fourth largest economy in Asia in 1968, but later, the country’s economy started collapsing due to many reasons, asserting that institutions had nationalised when industries were to be set up and in 1973, an important institution like the Planning Commission was destroyed.
Tarin said that Pakistan still has been suffering the consequences of joining the Afghan war in 1979 and after the 9/11 incident, we had also suffered irreparable losses in the war on terror.
The minister said he had studied at the Punjab University IBA in 1973, adding, “[The] Punjab University’s IBA is an institution with excellent educational traditions, and this institute is playing an eminent role in the development of the country’s economy.”
He assured all possible support to the Punjab University IBA.
IBA Director Dr Muqaddas Rehman should promote relations with industries, Tarin said, adding that the Punjab University should also further promote research projects in collaboration with industries.
He also lauded the work and efforts of Prof Khawaja Amjad Saeed for the development of the institution.
PU vice chancellor Prof Dr Niaz Ahmed said that the university’s international ranking had improved by 16 per cent in a short span of three years. For the first time, he said, 13 subjects of the Punjab University had joined the international rankings.
Dr Muqaddas Rehman said: “[The] Punjab University holds [the] first international conference under IBA that is playing a role in resolving the problems of business and society.”