Islamabad, October 08, 2012 (PPI-OT): President Asif Ali Zardari Monday urged for utilizing the great economic potential and strategic location of Pakistan coupled with rich mineral resources and skilled manpower for the economic development of the country and welfare of the people.
He said that the Special Economic Zone Bill, 2012 was a gigantic step of the government to create business and investors friendly environment and expressed the hope that the new law will help in reducing the cost of doing business, enhance the rate of return to investors besides increasing exports and creating employment opportunities in the country.
Under the new law all capital goods, machinery and equipment will be given one time exemption from customs duties and the entrepreneurs will also be exempted from Income Tax for ten years, the President said and added that the incentives granted to investors will be protected by Law, which, he said will help ensure continuity of economic policies and further strengthening the industrial base of the country.
According to prepared text of the speech, the president urged the Young Presidents Organization and the World Presidents Organization to take advantage of the new law as well as other incentives, the government was extending to investors and entrepreneurs.
The President said this while addressing office bearers and members of the Young Presidents’ Organization at the Aiwan e Sadr tonight.
The President while welcoming members of the Young Presidents’ Organization from all over the country to the Presidency congratulated the YPO on the launch of their Islamabad Chapter today. He also congratulated the chair of the Islamabad chapter, Hunaid Lakhani and all office bearers and expressed his liking for the motto of the YPO organization, which “Better Leaders through Education and Idea Exchange”.
The President said that education is critical to human development, adding that Indeed it is education and innovation that makes advancement possible. He said that the pyramid of knowledge was not built in a day rather it was built brick by brick by mankind over centuries in the past.
“Knowledge is common heritage of mankind and peoples of all nations and communities have contributed to the building of this pyramid as it does not belong exclusively to any one nation or any geographical area”, the President said and urged that we must therefore share knowledge and experience with one another.
The President said that we must not seek to re-invent the wheel, Instead we should build on the experience of those who first invented the wheel and noted that this principle also applies to the world of business and commerce.
The President said that the Young Presidents Organization and the World Presidents Organization are large and important networks as its members are committed to share their experiences and knowledge with one another, which he said, will benefit all its members.
The President appreciated that YPO-WPO generates annual revenues of over five trillion dollars and employ more than 15 million people worldwide, thus making it an extraordinary global network.
The President said that the government was keen to create an environment that is conducive for entrepreneurship as the success of entrepreneurs’ means economic development and creation of job opportunities and called upon YPO-WPO for its positive contribution in this regard.
The President expressed confidence that YPO-WPO business leaders are ready to help shape Pakistan’s future and urged the YPO-WPO Pakistan Chapter to employ their skills in the service of the country.
“Let everyone remember that whatever we have achieved today is due to what the country has given us and let us try to repay a little fraction of what the country has given to us”, the President said and further remarked that the present government on its part was striving hard and has taken a number of steps to facilitate business and economic activity in the country despite various challenges on various fronts.
The government has laid the foundations of strong economy and have focused on promoting regional trade and regional connectivity as Pakistan geo strategic location between the two largest markets of the world, i.e China and India, has immense potential for trade and economic growth, the President said.
He said that the war on terror has hugely impacted country’s economy, trade and investment. The President said that he lost his wife, Shaheed Mohtrama Benazir Bhutto in the war on terror, but urged the young leaders not to give up hope but continue working for the prosperity of the future generation and help the government in this regard.
The President urged for working together to find new avenues for economic growth and empowering women of the country as Pakistan cannot progress unless our women are empowered.
The President stressed for extricating the poorest from the poverty cycle and said that government has launched a major drive against poverty including the Benazir Income Support Programme, which is supporting millions of poor families across the country.
The President urged for joint efforts to find ways to promote education and to banish illiteracy and intolerance besides creating a positive business environment in the country. He stressed the need for working together to transform the life of every Pakistani for the better and expressed confidence that we can transform Pakistan into a modern state.
The President urged for working together to make our country a land of opportunity and prosperity where the social and economic rights of every citizen are fully protected.
He said that for the first time in our history, a democratically elected government will complete a full five-year term next year. The President on the occasion said that the present government accorded top priority to the strengthening of the Parliament and said that he surrendered all his powers to the Parliament for the sake of betterment and prosperity of the people of the country and to make Pakistan more stable with strong and powerful Parliament.
For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +9251 925 2323 and +9251 925 2324
Fax: +9251 925 2325 and +9251 925 2326