Efforts underway to bring investment under joint-ventures to improve economy: President

KARACHI : President Dr. Arif Alvi on Saturday said that efforts were being made to bring foreign investment under joint-ventures to improve the economy of the country.

He said that improving the ease of doing business and timely decision-making played a vital role in putting the country on the path to economic stability.

While addressing the 15th Rice Exporters Association of Pakistan (REAP)’s Recognition Ceremony, also attended by the Sindh Governor Mohammed Kamran Khan Tessori, at a local hotel here, the President said that the business community could make Pakistan economically strong.

Alvi said that Pakistan had tremendous potential, which could be tapped by taking responsibility.
He congratulated REAP for its journey from the exports of $300 million to $3 billion.

The President asked REAP members to move towards joint-ventures and focus on value-added rice items.
He said that ‘Briyani Festival’ was a good idea and it was an example of value-addition. He also invited REAP to organize the festival at the President House.

Alvi said that the Rice research insstitutions should be revived to further grab the international market.
He, on the demand of REAP, said that market-oriented institutions should be jointly established by the gevernment and REAP.
The President said that women must be employed in companies to empower them financially and enable them to play their role in the economy of the country.
He said that we had to impart education to our children to cope with the challenges being faced by the country.
On the occasion, he also condemned the Israeli brutalities in Gaza.

Sindh’s Governor, Mohammed Kamran Khan Tessori, while addressing the ceremony said that rice was the second best export of the country and deplored that it had not been recoganized as an industry so far.
Talking about the Palestinians, he said that the world should raise its voice for the Palestinians and against Israeli brutalities.

REAP Chairman Chela Ram Kewlani addressing the ceremony said that REAP was the backbone of the country’s economy.
He said that the Rice of Pakistan had become a brand at international level. Kewlani said that the country had 9 million ton crop of rice. The rice were being exported to Europe, Middle East, Russia and rest of the world.
He said that Pakistani rice were famouse around the world due to its quality.
The REAP chairman said that the rice exports of the country was $300 million in the past and then it had reached $3 billion.
Kewlani also drew attention towards Minimum Export Price (MEP) of rice and said that due to MEP they would not be able to export rice. He said that two crops of rice were being grown the worldover and Pakistan was still growing only a single crop. He demanded the establishing of a Rice Reasearch institution for more and better opportunities and exports growth.

Later, the President Dr. Arif Alvi and Sindh Governor Mohammed Kamran Khan Tessori distributed recognition shields and trophies among the best exporters of rice.