One million Pakistanis living in North America, particularly in the United States and Canada, have resources of over 200 billion dollars, which could significantly help in the development of Pakistan's economy.
Pakistan's economy has registered tremendous growth of 8.4 percent during the last year while current year growth is also encouraging which is projected at 7.5 percent in the present fiscal. If overseas Pakistanis living in America and Western countries and also in the Middle East set up joint ventures with the Pakistani entrepreneurs, the country's economy would sustain at the present level also in coming day. The direct investment to Pakistan has left profound impact on the country's economy besides reducing poverty.
These views were expressed by Dominic Pulera, an internationally expert on matters involving race, culture, and diversity while addressing to a seminar on 'Thinking Globally: International Trade and American's Views of the World in the Post 9/11 Era' at Lahore University of Management and Sciences, Lahore on Monday.
The seminar was organised by The Indus Entrepreneurs (TIE) which is a global, non-profit network of entrepreneurs and professionals dedicated to the advancement of entrepreneurship.
Pulera said that because of 9/11 incident, Muslims have been facing lot of difficulties in getting US visas besides increasing the immigration problems. Due to such difficulties, the people have started shifting of their business to other countries. As a result, United States has lost 40,000-45,000 jobs only in its textile sector in post 9/11 era, he maintained. He further said that there is great potential for investment in various sectors including oil and gas. Pakistani tourism industry is also need to be tapped which has 4.5 times more potential than India.
After the 9/11 incidents, many people have started learning about Pakistan and Islam. However, some Americans have misconception about Islam and Pakistan as well. He stressed the need for improvement of Pakistan image in abroad.
During his speech, he addressed a number of issues including the great success of Pakistani Americans, Americans' views of international trade, Americans' views of the world in the post 9/11 era, the linkages of overseas Pakistanis with Pakistan and some reflections on Pakistan's image abroad and how it affects the efforts to attract greater amounts of tourism and foreign direct investment to Pakistan.
Speaking on the occasion, President TIE Lahore Chapter, Dr Khalid Javed Chaudhry said that Pakistan is passing through a transition phase and it needs consistency in its economic policies irrespective of government. He further said that expatriate Pakistani can play an active role in the development of country and added that they should bring investment into the country and avail the opportunity of enabling business environment.
Pakistan is more safe and secure for the investment to yield dividend to the investors, he maintained.
Dr Ishrat Waheed of Centre of Excellence in Molecular Biology, Punjab University also spoke on the occasion.
Comments
Comments are closed.