Speakers at a summit said here that Pakistan would only move forward if all the state capacities were utilised to increase the industrial base, WealthPK reports. The event titled “Turnaround Pakistan: Reshaping the future of Pakistan” was organised by the CEO Club Pakistan in collaboration with AIRLINK, a technology company specialising in the production and assembling of mobile phones in the country.

The event was meant to highlight the challenges, developments and future prospects of Pakistan’s economy. Development executives, business leaders, leading industrialists, politicians and media persons attended the summit in a large number. Speaking on the occasion, Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal said that Pakistan would only move forward if all the state capacities were utilised to increase the industrial base.

“Pakistan needs to work on its exports. We need to establish the industry that helps us produce goods, which can be sold in the international market,” he said. He said Vietnam had half the population as that of Pakistan but it received more than $30 billion in foreign direct investment. “However, Pakistan received less than $2 billion of FDI. This is a very stark comparison, which tells us that we do not have the requisite enabling environment to invite investments from abroad,” said the minister.

Addressing the summit, Federal Minister for Poverty Alleviation and Social Safety Shazia Marri said that the government was doing everything in its power to protect the marginalised segments of the country. “Pakistan is facing an economic crunch that is only temporary and will subside as soon as the results of government policy start to take effect,” she added. She highlighted the lack of national consensus on moving the economy forward, stating that economic growth was dependent on the will of all the national groups be they political, social, civil, business-related or industrial.

Representatives from various sectors, including the tech industry, real estate, hospitality and pharmaceutical industry, were present at the summit to showcase their products. A book titled “100 Best Performing CEOs & Companies of Pakistan” was also launched on the occasion. The book highlights the lessons and achievements of Pakistan’s top 100 CEOs and the market performance of their companies. It also discusses ideas and ways through which Pakistan can become a developed country. The summit was open to public discussion, networking and knowledge sharing. Students, academicians, philanthropists and people from all walks of life attended the summit.

Credit: Independent News Pakistan-WealthPk