Private sector is the major driving force of economy: Ahsan Iqbal

Islamabad, May 25, 2015 (PPI-OT): “Despite improvement in economy over the period of two years, the fundamental challenge lies in transforming the commodity based economy into competitive exports led growth with the help of vibrant private sector of Pakistan”.

“The government alone has no capacity to lift the economy. The private sector and academia have to collaborate with the government as the partners and help identifying the clusters in Pakistan Industry which have the potential to compete with the products in international market”.

The Federal Minister for Planning and Development Prof. Ahsan Iqbal said at the seminar on “Partnership of Government and Private Sector in Growth and Development” today. The MOU was signed between Planning Commission and Federation of Pakistan Chambers of Commerce and Industries FPCCI to take private sector on board in the policy making and as the important stakeholder in achieving the targets of government’s economic agenda.

History is a series of challenge and response. We have lost two big opportunities to ensure sustainable economies in the decades of 60s and 90s due to fragility of democracy and shortsighted planning. CPEC is the third big opportunity to achieve high growth rate by developing and reinforcing infrastructure and energy network under the concept of shared prosperity and generating innumerable job opportunities in the country, he added.

The Federal Minister appreciated the contribution of private sector in the enhancement of economy and assured them of government’s assistance in terms of overcoming energy crisis and improving law and order situation in the country. He encouraged them to promote entrepreneurship and innovation in the business to provide maximum opportunities of employment.

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