Gilani calls for united effort to improve economy

Islamabad: Chairman Senate Syed Yousaf Raza Gilani Wednesday called for a united effort to improve the economy, stimulate business activities, and attract investment.

Addressing the concluding session of a conference organised by the Islamabad Chamber of Commerce titled “Improvement of Pakistan’s Economy for Inclusive and Sustainable Development”, he highlighted the significance of such events in addressing contemporary economic challenges, stating, “Our economy stands on cross roads and the decisions we make now will have long-lasting implications.”

He expressed his gratitude to the President of the Islamabad Chamber of Commerce, the organizers, and the distinguished guests, acknowledging their pivotal roles in making this significant event possible.

Chairman Senate identified several key factors contributing to the current economic difficulties. He referred to inflation adversely affecting the welfare of low income groups. He said, the decade-long economic stagnation that has impeded national progress.

However, he recognized the recent positive trend in the stock market’s performance and expressed optimism that this will continue and stabilize.

Regarding energy crisis, particularly the surge in electricity and gas prices, Chairman Senate called for an effective strategy to manage these issues.

He emphasized that these economic challenges have led to limited investment, reduced per capita income, and increased unemployment. There is an urgent need for a comprehensive framework to revitalize the national economy, attract investment, and promote business activities.

He stressed the importance of self-reliance, urging the nation to reduce its dependence on loans and foreign aid.

Chairman Senate highlighted the primary resource of Pakistan is its people who inherently smart and dexterous. He emphasized the need to embrace modern technology to meet contemporary demands and take advantage of the new opportunities arising from revolutionary changes in the IT and telecommunications sectors.

Chairman Senate called for a united effort to improve the economy, stimulate business activities, and attract investment.

He stressed the importance of inclusive development, particularly by ensuring women’s participation in all professional sectors, including small and medium-sized enterprises. He highlighted that Pakistan is fortunate to have a vast wealth of human resources, which needs to be developed into a valuable national asset through technical skills and training. “The development and prosperity of Pakistan are achievable for all of us,” he said.