KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) here on Monday held a brain-storming session, with video link to FPCCI offices in Islamabad and Lahore, to discus its plan for the survival and revival of Pakistan's economy.
Prominent among the participants were President FPCCI, Mian Muhammad Adrees, senior scientist and former federal minister, Dr.Atta-ur-Rehman, senior educationist Dr. Abdul Wahab, former president FPCCI Iftikhar Ali Malik and FPCCI's Director General, Research and Development Wing, Dr. Ayub Mehar.
Dr. Atta-ur-Rehman emphasized that large scale economies of the world are fast transforming into knowledge-based economies and we would have to do the same. Besides making the best use of other modes of human resource building, Pakistan would have to spend more funds for promotion of quality education and for the survival, revival and growth of its economy leading to socio- economic change. At present, we are spending only 1.9 percent of total annual budget, which is very low in the world. Pakistan has great capital of 100 million children and youth.
He cited the example of Singapore whose exports last year were dollars 300 billion with zero natural resources but highly skilled manpower. Whereas, he continued, Pakistan is rich in natural resources.
He further elaborated that high-tech trade is fast increasing in the world which is followed by medium technology. He mentioned that Malaysia leads the Muslim countries in high-tech exports; with 85.5 percent share.
He also called for the earliest formation and announcement of national policy for technology transfer.
Our planning commission must take care of that every project involving foreign expertise be based on transfer of technology, he added.
Dr. Atta-ur-Rehman referred to his book written in 2007 for the revival of Pakistan's economy and the development which covers 13 potential sectors of the economy. He underlined the need for giving specific suggestions to the government for economic prosperity and development.
The senior scientist said Pakistan sector is the key to development and prosperity and that the government should provide incentives to it for research and development (R&D).
There should be given matching grants to private sector for technology upgradation, along with setting up Revolving ' Innovation Fund' to support indigenous technology.
Senior educationist Dr. Abdul Wahab urged on the promotion of entrepreneurship, with setting up separate institutes for training of exporters. They should be taught , how to reduce the cost of doing business.
FPCCI President Mian Muhammad Adrees said FPCCI has just started this consultation process which would continue till submitting concrete recommendations/plan to the government for the survival and revival of the economy.
FPCCI would try to gather input from as many stakeholders as possible including from the main political parties to their ownership of for the proposed plan/map for the economic prosperity and development in the country. He announced to form three working groups/committees at FPCCI. One would work on how to develop knowledge-based economy. Second for integration of South and Central Asian economies.
The third one would be tasked to identify the law hindering development and to link academics with industry. FPCCI's former president Iftikhar Ali Malik, linked from Lahore, also emphasized on skill development with focus on Khyber Pakhtoonkhwa and Balochistan provinces.
He called for peace and security in the country and for tax holidays for boosting trade and industry. He also urged the business community to resort to maximum value-addition.
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