President Mamnoon Hussain Saturday said that the economic stability could not be achieved without cohesion among the country’s political and social institutions.
Addressing the concluding session of three-day conference on `Vision 2025: Effective Strategies for Transformational Growth’ organised by Pakistan Institute of Development Economics, he said the the Vision 2025 addressed the subject of pursuing development goals by creating harmony among different institutions.
Praising the role of Pakistan Society of Development Economists for the country’s economic stability and public prosperity, the president expressed the hope that the conference would help carry forward the same goals.
He observed that the recommendations coming out of the conference could help promote good governance by ensuring institutional reforms. This goal could only be achieved by investing in the fields of education, health and human resources, he added.
The president was satisfied to note that economic experts were also paying attention to the issues of climate change and energy crisis. “This is vital for making sure that any loss to the components of the national economy, including agriculture, industry, food safety as well as the business can be averted,” the president said.
He said that in the past, various factors, including law and order situation and political instability besides other infrastructural issues halted the national economic progress.
“I am pleased to say that Pakistani nation has braved all these challenges boldly and sagaciously. The sacrifices rendered by our armed forces and law enforcement agencies are praiseworthy. Consequently, the lawlessness pervading different parts of the country, and terrorism and extremism are now receding. Law and order situation is improving gradually,” the president remarked.
He said that consequently, the trust of the investors was reviving and the economic activities were also increasing.
President Mamnoon said that likewise the law and order situation, national prosperity and economic stability are also linked with the political situation. The political ups and downs occurred frequently in the developing countries which begot uncertainty thus decelerating the economic growth, he added.
However, the president said the country’s political situation remained encouraging and except for a few minor crises, no upheaval had hit the national economy.
He assured the audience, consisting of economists from across the country that the country would see further improvements in the years to come.
The president said that better economic infrastructure alone could bring in meaningful development in the fields of industry, agriculture and other sectors. But unfortunately, the sector faced neglect in the past, which affected the productivity and exports besides increasing the cost of production.
He said the government was addressing this issue as availability of skilled manpower was improving.
Terming China Pakistan Economic Corridor `Monument of the Century’, the president said that after its completion, Pakistan would be able to benefit from its geographical importance that would also bring stability to the national economy.
He said the Central Asian states were mulling to link their infrastructural projects with the CPEC. He also called for national unity to ensure completion of this historic project and called upon the citizens to stand united against the obstacles in this regard.
He advised the youngsters to pursue their goals with passion and ambition.
Minister for Planning, Development and Reforms Ahsan Iqbal and Pakistan Institute of Development Economics Vice Chancellor Dr Asad Zaman also addressed the conference.
Later, Ahsan iqbal presented a souvenir to the president.
