Productivity, quality, termed vital to growth

ISLAMABAD: The government believes the productivity, quality and innovation (PQI) are not only the core conditions of competitiveness of an economy but also the drivers of economic growth as well as development, a statement issued here said on Tuesday.

“The PQI will significantly contribute in a greater, greener and more sustainable type of growth, while this initiative is also going to promote competitiveness, advancement, and inventiveness in the country,” Minister for Planning, Development and Reform, Ahsan Iqbal told the inaugural session of government’s PQI initiative held here.

“There is dire need to develop a synergy among government, academia and private sector to achieve PQI objectives. This trio (PQI) has the magic power that can transform the country, cities, and rural areas into attractive, dynamic, and dignified places to inhabit and invest.”

The innovative and quality-oriented economies are more productive and resilient, the minister observed, adding they are not only more adaptable to change, but are also better able to support higher standards of living.

“Focus on productivity, quality and innovation can help in addressing economic, social and global challenges,” Iqbal said.

Highlighting the sincere efforts of Pakistan Muslim League-Nawaz (PML) regime, he said the government is playing a key role in fostering a sound environment for productivity, quality and innovation to overcome the challenges facing the country.

“Therefore 2017 has been declared as the year of productivity, quality and innovation for making our economy more and more competitive in the international market,” Iqbal said while solemnly pledging to work harder, better and smarter in the year 2017.

The minister remarked the better law and order situation and other efforts by the government have improved Pakistan’s economy notably. “The world now recognizes Pakistan as the next emerging success story,” he said adding, “There is great need for us to create new opportunities by utilizing our strengths.”