Senate chairman calls for unified effort to revitalise economy – M Haris

Senate Chairman Syed Yousaf Raza Gilani called for a united effort to improve the economy, stimulate business activities, and attract investment. “Our economy stands at a crossroads, and the decisions we make now will have long-lasting implications,” he stated.

Addressing the concluding session of a conference on Wednesday organised by the Islamabad Chamber of Commerce, he highlighted the significance of such events in addressing contemporary economic challenges. 

Gilani referred to inflation as adversely affecting the welfare of low-income groups and noted the decade-long economic stagnation that has impeded national progress. He also recognised the recent positive trend in the stock market’s performance and expressed optimism that this will continue and stabilise.

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

He emphasised 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 revitalise the national economy, attract investment, and promote business activities, he said.

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Gilani stressed the importance of self-reliance, urging the nation to reduce its dependence on loans and foreign aid. He further highlighted that Pakistan’s primary resource is its people, who are inherently smart and dexterous. 

He emphasised 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. 

The chairman 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. 

Gilani maintained that Pakistan is fortunate to have a vast wealth of human resources, which need to be developed into a valuable national asset through technical skills and training.