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Tarar For Enhanced Collaboration Between Public, Private Sector To Ensure Rapid Economic Development
Sumaira FH Published April 18, 2024 | 02:10 PM
ISLAMABAD, (UrduPoint / Pakistan Point News - 18th Apr, 2024) Federal Minister for Information and Broadcasting Attaullah Tarar on
Thursday stressed the need for enhanced collaboration between the
public and private sectors to fast track the process of economic
development of the country.
Addressing the First Pakistan Semiconductor Summit, he said that
the Special Investment Facilitation Council had been set up to attract
investment in Pakistan and ensure 'ease of doing business'. He said
it was main thrust of the government policy to encourage innovation
and investment in the country.
He said that Pakistan, as the fifth largest democracy in the world,
was endowed with great natural resources and its biggest resource was
its human resource. " We are blessed with a huge population of youth
which constitutes 68 per cent of its population". That is a huge
potential which we can offer to the world, he added.
He said Pakistan was strategically located at the crossroads of the world
which was a source of pride for the nation.
He said that the Government of Pakistan as a policy encouraged
innovation and investment in the country which this summit was
offering precisely - a collaboration between public and private
sector.
He said that the federal cabinet meeting on Wednesday had approved a
public private partnership policy framework to eventually facilitate investment
in the country.
He said that the job of the government was not only to regulate but
also facilitate investment. He said unfortunately sometimes
governments forgot their Primary responsibility as a facilitator which
hampered the investment.
He said that the government could fulfil this responsibility through collaboration
between public and private sector and by ensuring 'ease of doing business'.
He said that Pakistan has been producing 50,000 engineering graduates
every year and it has the best engineering universities in the world.
" Our engineering graduates are well placed globally but unfortunately
we are not able to reap the benefits of the semiconductor industry. It
is $ 550 billion industry at this moment with the projection of $ 1
Trillion by 2030."
Tarar said that Pakistan had great potential to deploy its human
resource in this industry.
The minister said that he was proud to inform that Shehbaz Sharif
during his stints as chief minister of the Punjab had attached great
importance to vocational training and skill development. From day one,
the priority of the PML-N was skill development of the youth.
"The manifesto of the political party that I represent, highlights the
importance of enhancing skills and placing importance on skill
development, on setting up institutes where skills training is imparted
to youth and this is the way forward", he remarked.
Expressing gratitude to Founder and CEO of GS Microelectronics (
GSME) Farhat Jahangir, he said he had done a great job by organising
this summit to bring public and private sectors together and bringing
members of esteemed universities of Pakistan under one roof for optimum
collaboration.
He urged the luminaries from leading universities to come up with workable solutions
and tangible proposals. He assured that the government would be on the forefront
in these endeavours.
Saying that several discussions have been held on semiconductor
business, he expressed the optimism that it would be from chip designing to
providing skill development to enhancing research in development and
planning,
He said Pakistan had a lot of expertise in skill development as well as
research and development, adding though research and development
was one area with regard to chip designing, Pakistan could contribute
immensely in this regard.
"I hope one day we may develop some capacity towards
manufacturing ( semiconductors) after a few years", he said. However
he said there was a need to set a direction, and set an objective and
goal,", adding experts in the summit who had spent decades in this field
could guide the way forward.
Thanking the forum for hosting the event, he hoped that collaboration
in this sector would continue and Pakistan could be linked with the
global economy. " This is something we need to emphasize and focus on
which will help our economy in a big way as the world is opening up",
he opined.
He said since coming to power this year, the present government had
received many delegations from abroad. " We just hosted a Saudi
Arabian delegation a few days ago and the Iranian President is due
next week, so there are a lot of positive activities ".
Attaullah Tarar said that economic indicators were positive and
international financial institutions and international financial
journals were unanimous that Pakistan had great potential for economic
development. " If we put our heart into it, the sky is the limit; and with good
intentions, we set on this path", he said.
He assured the participants that the government would not only provide
resources, but it would be at the beck and call to support the
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