The Pakistan Institute of China Studies (PICS) at the Sargodha University hosted a seminar on ‘Understanding China’s Economic Model’ to assist participants in comprehending the economic policies of the Chinese government spanning from 1978 to date, here on Tuesday at Noon Auditorium.
Mr Shakeel Ahmed Ramay, Chief Executive Officer (CEO) Asian Institute of Eco-civilization Research, shared his insights about the economic model of China and highlighted some shortcomings in Pakistan’s economic system.
He said that bad governance and management is the root cause of the downfall of our economy. Moreover, he said that 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 analyzing data scientifically.
While addressing the students, he said that a productive approach is required by our young people to elevate the economy.
He advised 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 Fazal ur Rahman, Director PICS, said that despite the pandemic, we superbly maintained our economy but the time has come to revitalize the economy, which requires an appropriate and efficient financial model.
We are honoured to collaborate 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.