Caretaker govt, COAS trying to bring in foreign investment: president

KARACHI: President Dr Arif Alvi on Saturday said the incumbent caretaker government and Chief of the Army Staff (COAS) General Asim Munir were trying to bring foreign investment under joint ventures to improve the economy of the country. He said decision-making played a vital role in putting the country on the path to economic stability.

Addressing the 15th Rice Exporters Association of Pakistan (REAP)’s recognition ceremony, which was also attended by Sindh Governor Kamran Tessori, the president said the business community could make Pakistan economically strong.

Alvi said that Pakistan had tremendous potential, which could be tapped by taking responsibility. He congratulated REAP on its journey from the exports of $300 million to $3 billion.

The president told the REAP members they could move to joint-ventures and focus on value-added rice items. He said that ‘Briyani Festival’ was a good idea and it was a value addition. He also invited REAP to organise the festival in the President House.

Alvi said the rice research institutions should be revived to further grab the international market.

He said that market-oriented institutions should be jointly established by the government and REAP.

The president said that women must be employed in companies to empower them and play their role in the economy of the country.

“We will have to impart education to our children to cope with the challenges being faced by the country,” he added. President Arif Alvi also condemned brutal actions being committed by Israel in Gaza.

Meanwhile, Sindh Governor Kamran Tessori said that rice was the second-best export of the country and deplored that it had not been recognised as an industry so far.

He said the COAS was fighting economic terrorism along with the boarder terrorism, adding the value of dollar had been brought down.

Tessori said that law and order situation in the country would improve as the action against illegal immigrants had started in the country.

Talking about Palestinians, he said the world should raise its voice for the Palestinians and against the Israeli brutalities.

REAP Chairman Chela Ram Kewlani said that REAP was the backbone of the country’s economy, adding that the rice of Pakistan had become a brand at international level.

He said the country had 9 million tonnes of rice crop, adding that rice was being exported to Europe, Middle East, Russia and rest of the world.

He said that Pakistani rice was famous around the world due to its quality, adding that the rice exports of the country were $300 million in the past and now it had reached $3 billion.

The REAP chairman urged the president to declare rice as an industry. He also drew attention towards Minimum Export Price (MEP) of rice and said that due to MEP, they would not be able to export rice.

He said that two crops of rice were being grown the world over and Pakistan was still growing only a single crop.

The REAP chairman demanded for establishing a rice research institution for more and better opportunities and exports growth.

Later, the president and Sindh governor distributed awards and trophies among the best exporters of rice.