LAHORE: Finance Minister Shaukat Tarin said the government has devised a short and long terms plans to pace up development work in the country and to bolster economic growth.
Addressing the annual dinner of the Punjab University Institute of Business Administration alumni association in Lahore, he said the Afghan war during the 1980s and the ‘war on terror’ after 9/11 have badly damaged the country’s economy.
He, nonetheless, said the strategies of the government would ensure sustainable growth, with focus on increasing revenues and promoting productive sectors, including agriculture.
He pointed out that in the 1960s, Pakistan’s economy was far better than South Korea’s, but currently per capita income in Pakistan was 1,500 dollars whereas it was 25,000 dollars in South Korea.
The minister told the gathering that Pakistan would have to increase its exports and provide a congenial environment for businesses to prosper and attract investments.
Punjab University’s Vice Chancellor Prof Niaz Ahmad said the international ranking of his university had improved 16 per cent in just three years and 13 subjects were ranked in the QS. He said the alumni association was activated to strengthen the connection among alumni, departments and new students to promote industry-academia linkages.
He said the institutions that defined their core values, focused on their customers and adopted a continuous process of improvement prospered.
The institute’s director, Dr Muqqadas Rehman, and alumni association president Athar Ehsan also spoke at the event. Later, gifts and souvenirs were distributed among participants and shields were presented to position holders.