$37bn trade potential of Pak-India can be powerful engine for shared prosperity: Dr Ishrat

ISLAMABAD: Prime Minister’s Advisor for Institutional Reforms and Austerity Dr Ishrat Hussain Friday said both India and Pakistan have the trade potential of $37 billion, which could be proved a powerful engine for the shared prosperity and to reduce inequalities in the region.

He was speaking at the concluding ceremony of 21st Sustainable Development Conference followed by 11th South Asia Economic Summit organized by Sustainable Development Policy Institute here on Friday.

“We need to invest in science and technology to tap the potential of 4th industrial revolution, otherwise, we will lag behind, he suggested. The challenge for us today is to invest in labour productivity in services and agriculture sector. “For that we have to invest in human development.” Dr Ishrat said inequalities, such as gender, income, and social, coupled with poverty are hindering development and growth of the regional countries.

He stressed the need for improving the quality of education in Pakistan so as to create the job opportunities.

Talking about bilateral relations between India and Pakistan, Dr Hussain suggested improving barter system between the two countries to improve the status of producers and consumers.

SDPI Executive Director Dr Abid Qaiyum Suleri said during the four-day long two mega events around 40 different session were organized, where issues such as trade, peace, climate change, poverty, left politics, SDGs, health, education, fiscal decentralization, charter of economy, agriculture and role of media were discussed in detail.

Former Interior Minister and PML-N MNA Prof Ahsan Iqbal said we are passing through the age of digital revolution where artificial intelligence is reshaping the future of this world.

At the moment, when inequality is growing at an alarming level, we have to ensure that every single person of the society has the access to information and communication technology to fight inequalities.

He said in this changing world of ICT, we should not be myopic but to adapt to the changes.

He said China-Pakistan Economic Corridor (CPEC) will impact the lives of most vulnerable people and under CPEC, through, Higher Education Commission (HEC), we had started the knowledge corridor by partnering with 50 Chinese universities on the programmes which are relevant to Pakistan’s economic needs.

PPP leader Senator Sherry Rehman said peace within and peace without should be our objective while moving towards regional cooperation and connectivity, which would help Pakistan and other countries of the region to grow and develop.

India and Pakistan have no option but to talk on all unresolved issues including Kashmir, she said, adding there is consensus among all the political parties in Pakistan to have peace talks with India.

“We have history of starting and stopping the talks, and walk-out from the peace talks would not help any country. Visa free corridors like Kartarpur Corridor can help bring peace in the region despite political differences."