KARACHI/LAHORE - Senior Vice President of Federation of Pakistan Chamber of Commerce & Industry (FPCCI) Dr Mirza Ikhtiar Baig has called for envisaging policies to generate revenue which may help increase production activities, reduction in unemployment and increase in the exports. He was addressing as chief guest on the first day of two-day Pakistan Business Research Conference on “Business Challenges and Opportunities in Pakistan” at Muhammad Ali Jinnah University (MAJU) Karachi, said a statement on Sunday.

Director, Higher Education Commission, Sindh Hakim Ali Talpur, Dean, ZABIST, Karachi Dr. Aamir Feroz Shaikh, Dean, Faculty of Life Sciences, MAJU Dr. Kamran Azim, Associate Dean, Business Administration & Social Sciences Faculty, MAJU Dr. Shujaat Mubarak and Conference Secretary, Ghulam Muhammad also addressed on the first day of the event. Ikhtiar Baig said that universities should come forward to conduct research work on the issues faced by our industry presently to help us enhance production activities for national  development and prosperity.

He was of the view that improvement in value added products and development of vender sector has become vital for boosting our  exports.

A panel discussion was also held on unemployment problem among  the youth of the country.

President, Baluchistan Economics Forum, Sardar Shoukat Husain Popalzai, Chairman, Pakistan and Turkey Business Association, Farooq Afzal, Chairman, Pakistan and Malaysia Friendship Association, Shahid Javaid Qureshi and Dr. Muhammad Naqib of Shaheed Benazir Bhutto University participated in the panel discussion program.

They said that it was the responsibility of our Universities to produce such a talented youths with the capability to run our industrial sector on modern pattern using latest technology confidently. The experts also suggested to the students that on completion of their education focus on self-employment rather than wasting their time for searching a lucrative job. 

Meanwhile, the Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) on Sunday Chinese styled reforms in insurance sector could prove to be a quantum leap in the economic mobility of Pakistan.

PCJCCI President Shah Faisal Afridi chaired a think-tank meeting, which proposed to introduce Chinese contemporary ideas in insurance sector.

On this occasion, Afridi said that according to financial statistics, the phenomenal growth of Pakistani life insurance companies was being maintained at 54 per cent and 71 per cent in terms of net premiums and assets. Pakistan insurance industry contribution to GDP is 0.24 per cent which is abysmally low, he said and observed that Pakistani insurance sector had great potential especially in the wake of forthcoming 2nd phase of CPEC (China-Pakistan Economic Corridor) labour and projects.

PCJCCI Senior Vice President Ahmed Hasnain stressed the need of investment in Islamic Insurance and said that the concept of Islamic insurance should be flourished to cover up a vast room available in the area of Islamic insurance. There was an urgent need on the part of government and concerned authorities to take effective measures to boost up Islamic Insurance business to cater to the needs of people, he asserted.

PCJCCI General Secretary Salahuddin Hanif observed that the policy environment for Chinese companies in the insurance business in Pakistan was very conducive, as the government of Pakistan was eager to overcome the inefficiencies and flaws of the sector. He said that by attracting investment of Chinese insurance companies, Pakistan would be able to boost a dependable economic activity in insurance sector.

PCJCCI decided to extend the fullest support to the Chinese companies in introducing the Pakistan insurance policies for managing and indemnifying financial risks.