The Pakistan Institute of China Studies (PICS) at the Sargodha University Tuesday hosted a seminar on “Understanding China’s Economic Model” to assist the participants in comprehending the economic policies of the Chinese government spanning from 1978 to date.
Shakeel Ahmed Ramay, chief executive officer (CEO) of the Asian Institute of Eco-civilisation Research, shared his insight into the economic model of China and highlighted some shortcomings in Pakistan’s economic system.
He said that bad governance and mismanagement were the root-cause of the downfall of our economy.
Moreover, he said, “We need to reform our society gradually and steadily by taking small steps like China brought revolution through persistent policies.”
Additionally, he said that economic decisions should be made on scientific grounds by collecting and analysing data scientifically.
While addressing students, he said that a productive approach was required by the young people to promote economy.
He advised the young entrepreneurs to launch development projects and establish themselves as self-sufficient businessmen as this is the only practical option to contribute to our ailing economy.
Dr Fazlur Rahman, director PICS, said that despite the pandemic, the country maintained its economy. However, he added, the time has come to revitalise the economy, which requires an appropriate and efficient financial model.
“We are honoured to be collaborating with China, the world’s most developed country, and we need to extract the greatest amount of fruitful information and learn from China’s well-established economic model.”
A large number of students from business studies and statistics disciplines attended the seminar.
Published in The Express Tribune, November 17th, 2021.
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