Pakistan has all resources to become mini factory of world

Adviser to Punjab Chief Minister on Economic Affairs and Planning Dr. Salman Shah said that Pakistan has all resources to become mini factory of the world and being a hub of economic activities, role of Pakistan has all resources to become mini factory of worldPunjab is crucial in this regard.

He was speaking at the Lahore Chamber of Commerce & Industry. LCCI President Irfan Iqbal Sheikh, Senior Vice President Ali Hussam Asghar and Vice President Mian Zahid Jawaid Ahmad also spoke on the occasion while former Presidents Sohail Lashari, Malik Tahir Javaid, former Senior Vice President Amjad Ali Jawa, EC members Haji Asif Ali Sehar, Fayyaz Haider, Haris Attiq, Shafiq Butt, Sh. Sajjad Afzal and Uzma Shahid were present.

Dr. Salman Shah said that Punjab is a power house with enormous resources such as its people, the youth and the great ecosystem of Rivers. And then there is this phenomenon of urbanization and cities achieving scale; lots of young people are migrating from the rural economy to the urban economy. Utilization, productivity, and competitiveness of these entire can make a breakthrough. And the focus for Punjab government is to improve the institutions, and bring in governance and technology to leverage these resources.

He said that to become an economic power, we need not detain ourselves to just one or two products but can have the whole range of global markets manufacturing products by developing and leveraging the existing manufacturing clusters all over Punjab.

“We at least need a coordinated action for agriculture and rural economy, services economy, manufacturing and the mining sector, urbanization and human resource development”, Dr. Salman Shah added. On the occasion, he also gave a presentation on the Business Plan of Punjab.

LCCI President Irfan Iqbal Sheikh said that LCCI has been working extensively with LDA since 2015 for Industrial Zoning of Lahore Division and the regularization of existing industrial units. Re-zoning of Lahore Division is the urgent requirement of the industry in order to accommodate the needs of future expansion and encourage local entrepreneurs to invest in green field and other projects.

The LCCI President said that government should also establish Cottage Business Residential Parks on the model of Vietnam, Korea, China and Taiwan. This model that comprises double story buildings with first floor as residence and ground floor as business would reduce business investment requirements for cottage entrepreneurs and also allow women workforce to contribute to Industrial growth.