ISLAMABAD: President Dr Arif Alvi said on Thursday that the application of critical IT-based innovative technologies can lead to harnessing the true potential of the agricultural and industrial sectors and help Pakistan prevent future economic shocks and ensure fast-paced economic growth.

Speaking at the Lahore Chamber of Commerce and Industry (LCCI) Achievement Awards ceremony at Aiwan-e-Sadr, President Alvi said Pakistan has immense potential to emerge as an economically strong country by adopting IT-based innovative technologies.

He stated that investing in research and development (R & D) to indigenously invent new products, adding value to its industrial production, and bringing the youth bulge into the economic mainstream by imparting market-oriented skills and knowledge will help significantly increase agricultural yields.

President Alvi praised LCCI’s leadership role in promoting business trade and investment, as well as encouraging women to start businesses and advance to positions of power. LCCI President, Mian Nauman Kabir, senior office holders of the chamber, and members of the business community attended the ceremony.

He said that the continuation of pro-trade, business, and investment policies, the consultative decision-making process at all levels in business-related issues and matters, ensuring ease of doing business, adopting innovative business approaches, and the passion of businesspersons to achieve optimal growth and development were the essential ingredients for attaining financial and economic stability in the country.

He called upon the business community to create a women’s-friendly environment in the business and industrial sectors where their own female family members and other female workers should feel safe and secure to play their roles in the business and economic sectors of the country. He also advised LCCI to create online business and employment opportunities for those qualified women who, for certain reasons, would prefer to work from home.

The president said that the business and industrial sectors would grow faster when we provide them with a corruption-free, safe and secure, and morality-based business environment; settle business trade and investment issues in accordance with the law; and by bringing greater transparency to the economy through documentation and simplifying the systems and processes.

Earlier, LCCI representatives thanked the president for his continuous patronage of the chambers of commerce and industries and said that, under his advice, the chamber was taking proactive steps to recruit women in the business and industrial sector at all levels.

Published in Dawn, August 26th, 2022