Interim government, army chief working to bring foreign investment in Pakistan: President

President Dr. Arif Alvi distributed trophies at the Export Trophy Ceremony of REAP on Saturday, October 28, 2023.  - APP
President Dr. Arif Alvi distributed trophies at the Export Trophy Ceremony of REAP on Saturday, October 28, 2023. – APP
  • He says that decision making plays an important role in economic stability.
  • He hopes that businessmen will strengthen Pakistan economically.
  • “Pakistan’s potential can be harnessed by taking responsibility.”

KARACHI: President Dr Arif Alvi has expressed confidence in the current caretaker government as well as the military leadership to take the country towards economic progress. news Reported on Sunday.

The President said that the interim government and Chief of Army Staff (COAS) General Asim Munir, with the help of joint ventures, were trying to bring foreign investment into Pakistan to boost its economy, highlighting that the decision-making How it has played an important role in taking the country on the path of economic stability.

President Alvi’s comments came during an address at the 15th Rice Exporters Association of Pakistan (REAP) recognition ceremony on Saturday, where Sindh Governor Kamran Tesori was also present.

During his address, the President also expressed hope from the business community to strengthen Pakistan economically. Alvi said that Pakistan has tremendous potential, which can be used responsibly.

Dr. Alvi also congratulated REAP for its journey from $300 million exports to $3 billion. He told REAP members that they could move towards joint ventures and focus on value-added rice commodities. He said that “Briyani Mahotsav” was a good idea and it was a value addition. He also invited REAP to organize a celebration at Rashtrapati Bhavan.

The President said that rice research institutes should be revived to capture the international market. He further commented that market-oriented institutions should be jointly established by the government and REAP.

The President also highlighted the role of women in the workforce, underscoring the importance of employing them in companies, empowering them and providing them the opportunity to participate in economic affairs.

Meanwhile, the Sindh Governor praised the rice crop as the country’s second best export and expressed regret that it has not been recognized as an industry till now.

He said the COAS is fighting border terrorism as well as economic terrorism and the value of the dollar has declined.

Tesori said that the law and order situation in the country will improve as action against illegal immigrants has started in the country.

REAP Chairman Chela Ram Kewalani said that REAP is the backbone of the country’s economy, adding that Pakistan’s rice has become a brand internationally.

He said the country has a rice crop of 90 lakh tonnes and the rice is being exported to Europe, the Middle East, Russia and the rest of the world.

Pakistani rice is famous across the world due to its quality, he said, adding that the country’s rice export was earlier $300 million and now it has reached $3 billion.

REAP Chairman urged the President to declare rice as an industry. He also drew attention towards the Minimum Export Price (MEP) of rice and said that due to MEP they would not be able to export rice.

He said two crops of rice were being grown across the world and Pakistan was still growing only one crop.

REAP Chairman called for setting up of Rice Research Institute for more and better opportunities and export growth.

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