LAHORE: The Chain store Association of Pakistan (CAP) and National Defense University (NDU) have pledged to launch joint efforts to support the dwindling economy and modern retail sector by creating a strong linkage between academia and industry, as this close collaboration can tackle the key economic challenges of the country.
This was decided in a meeting of CAP and NDU held here on Monday to discuss the challenges faced by the retail industry in particular and the overall economy in general. The delegation of Chain store Association, led by its top brass Rana Tariq Mehboob, called on the National Defense University President, Lt Gen Nauman Mehmood and his team. The other members of CAP’s delegates were member EC and Ex-SVC, Asfand Yar Furrkh, Member EC, Ahsen Mehmood, and Member EC Huzaifa Siddiqi.
The core areas of bilateral interests were the future of retail in Pakistan and the linkage of NDU with the retail sector regarding policy-making and long-term strategies. Both sides agreed that the documented economy was the only solution to avert looming shadows on our economy.
Both sides discussed the impact of retail in the modern economy, navigating through the prevailing economic crises, research and development opportunities, and mutual efforts on human capital development in collaboration with NDU.
The meeting agreed to collaborate and make mutual efforts for the development and prosperity of the country through the growth of the retail industry in Pakistan.
President NDU Lt Gen Nauman Mahmood, in the meeting, vowed to support this vital segment of the economy. He assured the delegation that the NDU is working towards integrating academia-industry linkages by engaging directly with the industry and incorporating their direct input into academic and research activities by involving CAP members in various academic and research activities to support the demands of the industry and national growth agenda.
The Chairman of CAP, on this occasion, appreciated the role of NDU in training, policy-making, and developing the country’s economy, education, security, and leadership. He lauded the institute’s impact in various domains and desired a stronger bond between the two entities. He explained the role of the CAP in formalizing the retail sector in Pakistan.
The chairman of CAP further emphasized expanding the tax net to the gross root level instead of compounding the existing filers and plugging in other grey holes eroding the economy.
He encouraged working closely with the NDU to integrate faculty and students into the national productivity and output process, as the country needs a significant amount of talented human resources. However, this human resource needs to be sensitized to the manufacturing and trade environments through a hands-on approach during their studies.
The CAP is geared towards helping remove gaps that prevail between academia and industry. Addressing these gaps will create the required momentum for national growth. Academia and industry are significant contributors to national productivity and must work hand in hand to catalyze the economic engine, he added.
All over the world, the mode of working for academia is to get associated with the industry to provide solutions for the issues related to the industry and cater for a more conducive environment for the society. This is the wave that seeks to develop a healthy and competitive environment for academia to contribute their skills, experience, and expertise to the industry for mutual development and progress. It is the most suitable way of dealing with the poor performance of the industry and, in some places, academia not meeting the requisite standards.
Copyright Business Recorder, 2023