KARACHI: The China-Pakistan Economic Corridor (CPEC) is a fate changer for Pakistan and foreign investment is prerequisit for the economic growth of the country.
This was stated by the Director of the Institute of Business Administration (IBA), Karachi, Dr. Farruk Iqbal, on Wednesday.
Dr. Iqbal suggested that importance should not be given only for encouragement of enrollments instead emphasis should be laid on quality education.
Health and education are considered as major elements of human development, he said adding that Pakistan needs qualified human resource.
Dr. Iqbal, former Governor State Bank of Pakistan Dr. Shahid Kardar, prominent economist Dr. Qaiser Bengali, Dr. Muhsin Hasnain also spoke on the second day of the three-day International Conference on Transforming Economic Development: Policies and Strategies (ICTEDPS) held at the International Center for Chemical and Biological Sciences (ICCBS), University of Karachi on Wednesday.
Applied Economics Research Centre (AERC), University of Karachi (KU) organised the conference, which aims to devise development policies and strategies for transformation of the developing economies in general, and for the economy of Pakistan in particular.
Dr. Furrukh Iqbal said that improvement in health and education are strongly associated with the achievement of Millennium Development Goals (MDGs) but in Pakistan both sectors are in a poor state. Dr. Shahid Kardar underlined the importance of quality education, and saying that the public sector schools need the government attention.
He opined that political hiring of the school teachers has damaged the whole educational system especially in Sindh province.
Dr. Qaiser Bengali said that the China-Pakistan Economic Corridor is really a fate changer for Pakistan.
Dr. Muhsin Hasnain said that export-oriented foreign investment is required for the country's economic growth. He highlighted the importance of governance indicators, and said that the worldwide Governance Indicators owns six key dimensions of governance which included voice & accountability, political stability and lack of violence, government effectiveness, regulatory quality, rule of law, and control of corruption.
Director AERC Prof. Dr. Samina Khalil said that the current era of globalization and new benchmarks in different fields of applied economics have set new challenges for our country, like food security, power shortages and poverty, to name a few.
The objective of this conference is to interact with people coming from different societies and cultures, and learn from their experiences, she said.
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