Experts seek ‘redrafted eco-diplomacy’ to revitalize economy

By Anzal Amin

ISLAMABAD: The experts on Thursday stressed the need to re-draft the policy of economic diplomacy and sought investment in small industries to streamline the ailing economy of Pakistan.
The experts made the remarks during a two-day Winter School on ‘Economic Diplomacy’ organized by Islamabad Policy Research Institute (IPRI).
Speaking on the occasion, the President of IPRI Ambassador (Retd) Dr. Raza Muhammad underscored the need to disseminate economic education and understand the changing world of technology and crypto-currencies in its true spirit.
He also pointed out that Pakistan, of late, had made a strategic move and shifted its fulcrum from geo-politics to geo-economics.
CEO Macro Economic Insights and member of several economic advisory councils under different prime ministers, Sakib Sherani spoke on “Pakistan’s Economy in Regional Context”.
He said Pakistan required deep structural and institutional modifications to become a productive, prosperous, and healthy country.
President District Board of Management, Punjab Vocational Training Council, RWP, Raja Amer Iqbal stressed the need to invest in human capital, vocational training, and agriculture technology in order to export manpower.
Remittances were not an issue if Pakistan harnesses its labor and skilled manpower potential, he pointed out.
During the discussion, the former diplomats spelled out the true vision behind economic diplomacy and made referrals to how hard the ‘nut is to crack’ keeping in account the economic weaknesses.
They remarked that until and unless there was economic growth, diversity in production, and a competitive saleable approach, Pakistan could not match the dynamics of world economic diplomacy.
They pointed out the merits and demerits of the economic diplomacy of the country and underscored the need for a greater orientation of policy perfectness to realize the economic vitality on the international front.