BOAO, China: Pakistan, a frontline state against the ongoing war against terrorism – braving the daunty challenge of countering terrorists, stands by all victims of tragic incidents being targeted around the globe under one or the other pretext, said Dr. Ahsan Iqbal, Pakistan Minister for Planning, Reforms and Development.
Participating as a panelist during a session on Rise of Crowdfunding at the Boao Forum for Asia Annual Conference 2016, Thursday, he said his country strongly believes in equal opportunities of economic development for the countries across the world as a tool to combat terrorism and paving way for peace and prosperity.
He on the occasion also agreed with many of the Asian leaders that current wave of terror attacks cannot be attributed to “clash of civilizations” but are triggered due to geo-politics.
Focusing on the theme of the session that was in the backdrop of the fact that crowd funding was growing at an accelerated speed in economies with poor financial infrastructure and a robuse internet population, Dr. Iqbal said people in Pakistan are generally recognized for their philanthropy and do strongly believe in sharing.
Pakistan government equally conscious of the associated benefits and risks of the culture has come forward with a pragmatic approach to ensure that the donations made by people in individual capacities or as groups is properly regulated so that the purpose to help the less blessed and those in need is actually served, he said.
“This in itself is a major challenge that with growing use of technology by the people is further enhancing or responsibilities yet we are committed to it and are in process to streamline the spirit and take on board all the relevant stakeholders,” said Dr. Ahsan Iqbal.
The Minister for Planning, Reforms and Development said that crowdfunding in Pakistan is not merely restricted to charity but encompasses equity, rewards and also debt based – for each of which a mechanism of transparency is being evolved.
He on the occasion also referred to measures fast underway in Pakistan to provide equitable opportunities of prosperity to the people and said series of industrial parks are being established in least developed areas to kick-start economic development.
The session moderated by Gloria Al, Founder of iAsk Media: Bilingual Anchor Woman was also addressed by economists and entrepreneurs from different Asian countries.