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Entrepreneurship may help reduce poverty: Dr Nizam
Entrepreneurship may help reduce poverty: Dr Nizam

LAHORE: (Thursday, May 18, 2017): Punjab Higher Education Commission Chairman Prof Dr Nizamuddin has said that entrepreneurship opportunities may help reduce poverty from our country. He was addressing a pre-budget seminar organized by Punjab University Department of Economics at new building of Faculty of Education here on Thursday. Renowned economist Dr Ashfaq Hussain, Chairman Department of Economics University of Lahore Prof Dr Muhammad Aslam Chaudhry, Vice President Pakistan Kissan Board Sarfaraz Ahmed, Incharge PU Department of Economics Mrs Kulsoom Zulfiqar, faculty members and a large number of students were present on the occasion.

Addressing the seminar, Dr Nizam advised the students to focusing on finding earning resources through entrepreneurship means. Dr Ashfaz said that economic growth was a critical element in the development process. He said that economic growth created jobs, raised income of people, generated more tax resources, more development spending and more growth. He said that it had been realized that though economic growth was necessary for poverty reduction, it had nevertheless widened the gap between the rich and the poor in many countries. He said that fruits of growth had not been shared by all the segments of the society. Prof Dr Aslam Chaudhry said that CPEC was a golden opportunity which would bring economic stability in Pakistan. He said that 2017-18 budget must be public-friendly budget. He said that the government should avoid increasing tax on the goods already in the tax net which would help reduce poverty from our country. Mr Sarfaraz Ahmed said that small farmers belonged to the poorest strata of the country that were deprived of basic education and health facilities. He said that agriculture was exempted from tax worldwide except Pakistan. He said that there was need to build dams in the country to manage water scarcity issues. He said that hundreds of thousands of tons of wheat got wasted because of lack of storage capacity. Mrs Kalsoom Zulfiqar said that the purpose of pre-budget seminar was to create awareness regarding budget among students.