Ministry of Planning
Development & Reform

Press Release

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Productivity , Quality & Innovation are driver of sustainable economic growth

Dated : 10 January 2017

Islamabad, January 10, 2017: Federal Minister for Planning , Development and Reform Ahsan Iqbal said that productivity, quality and innovation are the core conditions of competitiveness of an economy and drivers of economic growth and development . Ahsan Iqbal expressed these views while addressing to the inaugural session of productivity, quality and innovation (PQI) initiative of the government. The event was attended by renown scholars , business leaders and experts. Minister said that PQI will significantly contribute in a greater , greener and more sustainable type of growth . He further added that this initiative will promote competitiveness , growth and inventiveness in the country . On this occasion Federal minister Ahsan Iqbal said that there is dire need to develop a synergy between government , academia and private sector to achieve PQI objectives . He stressed upon that productivity, quality and innovation (PQI) are the magic power that can turn country, cities and rural areas into attractive, dynamic and dignifying places to live and invest. Mr. Ahsan Iqbal maintained that innovative and quality-oriented economies are more productive, resilient and adaptable to change and better able to support higher living standards. “Focus on productivity, quality and innovation can help in addressing economic, social and global challenges” said the minister. Minister acknowledged sincere efforts of government and said that it is playing a key role in fostering a sound environment for productivity, quality and innovation , helping overcome current challenges. Therefore, 2017 is declared as the year of productivity, quality and innovation to become competitive in the international market. The Minister stressed to pledge to work harder, better and smarter in the year 2017. He further added that Pakistan’s economy has improved with the recent efforts made by the government and the law and order situation across the country has also shown promising results as compared to the past. “The world now recognizes Pakistan as the next emerging success story” he maintained. While talking about Global Innovation Index 2016, Minister said that Pakistan is ranked 119th amongst 128 countries. Hence, this has renewed importance of Innovation on policy formulation in various countries. ''The Vision 2025 has been developed to foster a culture of change and transformation in the overall development scenario of Pakistan which is characterized by unprecedented change and complexity. There is great need for us to create new opportunities by utilizing our strengths'' said the minister . He added that Pakistan's untapped potential provides calls for optimism whereby Pakistan could emerge as a great nation and economic power if resources are generated, managed and used efficiently. Minister said that the target is set to create a roadmap that puts Pakistan in the top 25 economies of the world. Ahsan Iqbal further added that CPEC is a gift for Pakistan that has opened new avenues for Pakistan’s business and investment environment. CPEC will not only benefit China and Pakistan but will have positive impact on the development of overall region. Keeping in view, the fastest growing and competitive world around us, Minister concluded that it is the time to launch a new wave of productivity, quality and innovation based on a new concept of inclusive, shared and environmentally-responsible growth.