MULTAN: The United States government, in partnership with Punjab government, opened a two-day Private Sector Forum at Muhammad Nawaz Sharif University of Agriculture (MNSUA here Wednesday to explore and unleash private sector investment opportunities in key sectors in South Punjab to accelerate economic activities.
“We all know that South Punjab has immense economic potential. Empowering South Punjab’s economy will not only help the local population, but it will also have a positive spillover impact on the Pakistani economy as a whole,” said William Makaneole, U.S. Consul General in Lahore, while speaking on the occasion, according to USAID officials.
Vice Chancellor MNSUA Prof. Dr. Asif Ali, Federal Minister for Commerce Syed Naveed Qamar, Punjab Agriculture Minister Syed Hussain Jahanian Gardezi, besides members of the South Punjab private sector industrialists and entrepreneurs, key government departments, and overseas investors participated in the brainstorming sessions throughout the day.
The Private Sector Forum was designed in coordination between the United States Agency for International Development (USAID); the Chambers of Commerce and Industry in Multan, Sahiwal, Bahawalpur, Rahim Yar Khan, Khanewal, D.G. Khan, and Vehari; and the Punjab board of Investment and Trade. The first day of the Forum focused on textiles and agriculture, while the second day proceedings would cover energy and technology sectors.
The US Consul General recognized the strong collaboration between the U.S. government and the private sector in designing this year’s forum. Federal Minister of Commerce Syed Naveed Qamar, joined the session online and welcomed private sector investment in textile sector and stated that current government was making a policy to facilitate investors in this sector by reducing taxes. The participants from the south Punjab textile industry agreed that focus should be given to regenerative textile sector and promote cooperative agriculture and strengthening the cotton value chain.
“Private sector engagement is one of the key priorities for USAID in Pakistan, and we engage with the private sector in multiple ways to address development challenges in the country,” said USAID Pakistan Mission Director Reed Aeschliman. “We understand the hurdles impeding the economic growth of the region but through joint efforts with the government of Punjab and major public and private sector partners, we can overcome these impediments.” Provincial minister for agriculture Syed Hussain Jahanian Gardezi represented the Punjab government at the Forum. The Special Advisor to the Prime Minister on Energy joined the opening session virtually and delivered remarks.
More than 100 participants from the public and private sector also attended the plenary session. The Vice- Chancellor Prof. Dr. Asif Ali (T.I) emphasized on developing the entrepreneurial university with the collaboration of US- Pakistan diaspora which can provide sustainable business models in South Punjab.
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