ISLAMABAD: Federal Minister for Planning, Development and Reforms Ahsan Iqbal Tuesday said that innovation and research with adoption of new technology was needed to enhance competitiveness in economy.
“International economic institutions and media now consider Pakistan as an emerging economy and recent $46 billion huge investment from China in infrastructure and energy attract the international community to invest here,” he said addressing the 13th convocation of University of Engineering and Technology (UET) Taxila.
The minister said the government had brought foreign investment in the country and portrayed its soft image abroad. Terrorism and extremism had badly affected the foreign investment in the country, he added.
“Now new generation should play a responsible role and work hard for the economic development and stability of the country,” said Ahsan Iqbal. He said the government was fully committed for economic revival.
“We need to proper planning to build water reservoirs as the country has only two major damns and there will be water scarce country in coming decades.”
Ahsan Iqbal lauded the research output and quality education of engineering which was pivotal for infrastructural development of the country.
He said key areas of development were information technology and telecom, robotics, man-made materials, biotechnology, chemical processing, and sustainable energy.
By adopting modern techniques in research, universities could play a major role to develop a modern society, he added.
Ahsan said the government’s top priority was to overcome energy crisis in the country and in this regard it was utilizing all its resources.
He urged the engineers to devote their energy and talent in that area which would have maximum impact on the national economic development.
