ISLAMABAD, Pakistan: The Deputy Chairman Planning Commission Sartaj Aziz on Thursday renewed the governments’ resolve for exploiting true potential of existing opportunities for fast track socio-economic development and prosperity.
While addressing ‘Pakistan Development Summit and Expo’, he said Pakistan had to face several economic and political challenges since its coming into being, besides aggression from the neighboring country.
The event was organized by Ministry of Planning, Development and Reforms in connection with the 70th Independence Day to highlight the journey of economic development during last 70 years.
Sartaj Aziz informed that country was among the 7th vulnerable in terms of climate change challenges and faced several disasters including flash floods and droughts that considerably affected national economy.
Besides, he said the country had inherited a weak and fragile industrial base and it was being forecast that Pakistan would not be able to survive for long.
Despite all these challenges journey toward economic development continued and it had maintained the growth trajectory upto five percent per annum during first 10 years of its existence, he added.
Sartaj Aziz said in 1960 Pakistan was the only country in the region to introduce liberal trade policy for enhancing trade and investment with the world.
The Deputy Chairman Planning Commission informed that at present more than 160 multi-national companies are operating in the country and render services in different sectors of national economy.
Sartaj Aziz aid more than eight million Pakistanis are working abroad and contributing to economic progress of these countries. He said during last 70 years Pakistan has achieved remarkable progress and now it is among top ten milk, cotton, sugarcane and rice producing countries.
Sartaj said asked every individual is needed to play role in nation building and economic development for taking country to the new heights of prosperity.
Moreover, he said after the constitutional amendment the Planning Commission had been assigned a crucial task of policy formulation and implementation of the economic development agenda of the government.
The Deputy Chairman Planning Commission hoped that the participants would come up with some positive output to help formulate matching policies for socio-economic development in the country.
While addressing the event Secretary Planning, Development and Reforms Shoaib Ahmad Siddiqui said the summit was an effort to showcase 70 years journey of economic development and prosperity.
Shoaib Siddiqui said the summit would discuss 70 years journey of development, besides finding out a way forward for Pakistan to become part of top 25 economies of the world by 2025.
Prominent economist including former Governors of State Bank of Pakistan, leading businessmen and CEOs of different private sector companies attended the event.
