Imran Khan highly appreciates China for defeating poverty, making remarkable progress

Lahore: Pakistani Prime Minister Imran Khan has highly appreciated China for defeating poverty and making remarkable progress.

Addressing the inauguration ceremony of Lahore Technopolis, a special technology zone here, PM Khan said that China had set an example by eliminating poverty.

Citing the Chinese model of development, the PM stressed that China achieved remarkable progress and steered 700 million people out of poverty.

“They (China) eliminated corruption by jailing over 450 ministerial-level people and enhancing exports,” he maintained.

The PM called for redirecting the orientation of the government as well as the population towards enhancing exports and wealth creation.

He contended that taking advantage of its 12 climatic zones, the country could reduce its import bill of commodities like edible oil through indigenous production of palm oil.

Calling them the biggest asset, the PM emphasized the involvement of the overseas Pakistanis towards investment and wealth creation in Pakistan. He reminded that China had also first attracted their own firms operating abroad to invest at home.

PM Khan mentioned that the Pakistani individuals as well as the firms operating abroad including the Silicon Valley were interested to invest in Pakistan which necessitated incentives and ease of doing business.

Prime Minister Imran Khan underlined that the objective behind establishing the Technopolis projects in Lahore, Karachi and Khyber Pakhtunkhaw was to make Pakistan join the tech race and provide employment to the people.

“If incentivized and facilitated, the technology industry could help overcome the current account deficit of the country by boosting exports as well as addressing the issue of unemployment,” he remarked. In order to attract investment to Technopolis, he stated, the government had given a 10-year tax exemption to companies operating there. “The companies from various countries like US, Canada, China and Australia are approaching to invest there,” he added.

The PM said the Lahore Technopolis Special Technology Zone would help provide incentives to the tech industry and bring ease for the businessmen, in accordance with the government’s vision.

He underscored that the Special Technology Zones being developed all across the country would be home to Science and Technology Parks, manufacturing units, research and development centers of global tech companies and software houses. It will also feature, universities, incubators, accelerators and other ecosystem players, he elaborated.

Before Lahore, Islamabad Technopolis was also announced earlier this year. The PM believed the Information Technology sector would also address the issue of unemployment to the youth particularly the women besides boosting the country’s exports.

The Prime Minister lauded Punjab Chief Minister Sardar Usman Buzdar and other relevant ministers for allocating 800 acres of land for the purpose, which he termed the “future of the world”.

Exemplifying Amazon, Google and other tech giants, the Prime Minister recalled that during COVID-19, all other businesses had faced a slump but the profits of the tech companies multiplied during the pandemic.

However, he regretted that Pakistan lagged behind in the sector despite having ideal conditions including a huge young population.

The PM noted that as the country started achieving economic growth, the current account got disturbed owing to the import of the machinery which ultimately devalued the local currency and made the country approach the International Monetary Fund (IMF) for loans. “The country can only come out of this cycle unless it boosts its exports and allows wealth creation,” he observed.

Earlier, the PM distributed licenses among the companies which would be operating in the Technopolis. The event marked the signing of a Memorandum of Understanding (MoU) for an investment of US $300 million for the establishment of another three Technology Zones in different parts of the country.

Punjab Chief Minister Sardar Usman Buzdar told the audience that Lahore had been selected the Technopolis considering the existence of universities and other tech institutes as well as companies in the city. He informed that the project would help carry out technology-based researches and studies.