ISLAMABAD: As the world is grappling with the economic fallout of the coronavirus pandemic, Pakistan is turning the challenge into a prospect for greater economic gain through promoting stronger trade links with regional countries under the guidelines of Prime Minister Imran Khan.
Chairman Faisalabad Industrial Estate Development and Management Company (FIEDMC), Mian Kashif Ashfaq said that while presiding over a meeting of senior executives of FIEDMC through webinar from the camp office.
He said Pakistan is looking to the Covid-19 outbreak to offset some of its longstanding economic problems and remodel domestic resource distribution as it attracts significant foreign investment to boost an ailing economy, said a press release issued here Sunday.
In this regard, Mian Kashif Ashfaq pointed out that the incumbent government under the dynamic leadership of Prime Minister Imran Khan is committed to bring out comprehensive solutions for sustaining the economic growth in the wake of global outbreak of Covid-19 pandemic in the country.
Besides this, he was of the opinion that these trade and investment officers working in more than 50 countries would be bound to link the expected investors with one window operation of FIEDMC and update the administration of these economic zones about the trade possibilities of their designated countries for promoting and marketing of Pakistani products, which would help the country enhancing volume of exports.
Mian Kashif said Allama Iqbal Industrial City provided a huge opportunity for the foreign and local investors under one window operation.
"Economic sovereignty is the key to comprehensive development," he said regretting that this was generally ignored and the weak stance adopted by previous governments exposed the country to steady increase in the energy cost affecting the entire economy.
He said he was a big supporter of foreign investment but would expect that this should now come forward with the shift and transfer of technology.
He was of the opinion that an efficient balance has to be maintained to ensure that a country attracting investment may benefit on an immediate basis as well as on a long term basis.
Mian Kashif further said public private partnership in industries would be helpful in growing the local industry and attracting foreign investors for joint ventures.
He also highlighted Pakistan's reforms agenda such as steps to improve Pakistan's ranking on the ease of doing business and structural changes in micro-economic sectors particularly industrialisation in the country.
He reiterated his earlier stance that they would use all available resources to provide the best facilities to their customers so that an industrial revolution would be brought not only in Faisalabad but also across the country.