MUL holds a seminar on economic problems & their solutions

MUL will set up Entrepreneurship Center in collaboration with LCCI

Minhaj University Lahore hosted a pre-budget seminar focused on Pakistan's current economic situation and potential solutions. Deputy Chairman of the Board of Governors and economist Professor Dr. Hussain Mohi-ud-Din Qadri emphasized the need for Pakistan to shift from a protectionist mindset to an economic one. He stated that economic no-go areas should be minimized for both domestic and foreign investment. He said that in Pakistan, establishing an industry, factory, or business requires navigating numerous permits and government restrictions, consuming significant time and money. These constraints, he added, deter investors, stating that energy should be made cheaper and regulations more business-friendly.

The seminar featured economic experts Dr. Amanullah, Senior Vice President of Lahore Chamber of Commerce and Industry Zafar Mahmood, Dr. Khurram Shehzad, and Dr. Muhammad Tayyab, who also shared their insights.

Professor Dr. Hussain Mohi-ud-Din Qadri announced the establishment of an Entrepreneurship Center at Minhaj University Lahore in collaboration with the Lahore Chamber of Commerce and Industry.

In his address, Zafar Mahmood highlighted that Pakistan's issue is more administrative than economic. He noted that poor decision-making in economic matters has led to recurring crises, which can only be resolved through coherent policies and reforms. He emphasized the impossibility of economic stability without political stability and the need for a transparent and business-friendly taxation system. He suggested forming a commission to assess Pakistan's import needs to avoid situations like importing millions of tons of wheat during the harvest season.

Joint Chief Economist Planning and Development Dr. Amanullah stated that no individual can run a generator for a month to meet their electricity needs, yet this is happening nationwide. He mentioned that producing expensive electricity and providing it cheaply is not feasible for the government. However, continuous efforts are being made for improvement, and hope should not be abandoned. Expanding the tax net is essential, and the economic situation is such that even defense expenditures require loans. Every possible measure is being taken for economic recovery.

The seminar's proceedings were conducted by Head of the Department of Economics and Finance, Dr. Muhammad Tayyab. The event saw significant participation from deans, faculty members, and students from various educational departments. At the end of the ceremony, Deputy Chairman of the Board of Governors Professor Dr. Hussain Mohi-ud-Din Qadri presented commemorative shields to the esteemed guests.