Federal Minister for Information and Broadcasting Attaullah Tarar emphasized the need for increased cooperation between the public and private sectors to boost the country’s economic growth. Addressing the First Pakistan Semiconductor Summit, he emphasized the establishment of the Special Investment Facilitation Council (SIFC) to attract investments and ensure a favorable business environment. Tarar reiterated the government’s focus on fostering innovation and investment, noting Pakistan’s significant human resources, particularly its large youth population, which accounts for 68% of the total population. He highlighted Pakistan’s strategic geographical location and the government’s commitment to promoting innovation and investment through public-private collaboration, as evidenced by the summit’s theme. Tarar also mentioned the recent approval of a public-private partnership policy framework by the federal cabinet to facilitate investments in the country. He emphasized the importance of the government’s role in actively facilitating investment rather than merely regulating it, citing instances where neglecting this responsibility hindered investment. Furthermore, Tarar noted Pakistan’s annual production of 50,000 engineering graduates and its globally recognized engineering universities. However, he expressed regret that Pakistan had not fully tapped into the potential of the semiconductor industry, which is valued at $550 billion and projected to reach $1 trillion by 2030. He affirmed Pakistan’s capacity to harness its human resources in this sector.
