According to Faisalabad Chamber of Commerce & Industry (FCCI) president Engr Hafiz Ihtasham Javed, an immediate economic turnaround is possible by providing a conducive atmosphere for trained Pakistani youth. In this regard, the National Incubation Center (NIC) Islamabad has taken a bold and creative move by providing world class facilities under one roof to young startups.
He was speaking at a function in Faisalabad after signing an MoU with NIC. He praised the local youth’s creativity, hard work, and vision, noting that, as a result of their constructive contributions, Faisalabad, which was established just over a century ago, now contributes 30% of the national economy.
He welcomed the NIC team and stated that our partnership would concentrate on IT-related startups to build diverse programmes for various sectors while also earning a substantial profit through innovations. In response to gender-based discrimination, he said that Faisalabad is a progressive Punjabi region. He continued, “A significant number of female entrepreneurs are already in the market, and now we must pave the way for startups.”
According to Asian Development Bank (ADB) statistics, Pakistan’s economy could expand at a 30% pace if gender discrimination is reduced. According to him, the MoU between FCCI and NIC will enable local talent to benefit from NIC’s expertise and contribute to the country’s growth.
According to NIC project director Pervaiz Abbasi, Pakistan’s most valuable asset is its 120 million youth under the age of thirty. “This youth is our priority, and we plan to use it to accelerate Pakistan’s development,” he added. He cited statistics and said that developing countries encourage their youth, and that we should do the same.
He explained that NIC had initiated the project as a public-private partnership, with the Ministry of Information Technology playing an equal role. He said that youth enrolled in the Islamabad incubation centre have so far founded 209 businesses, with females accounting for 21% of the total. He said that Faisalabad has a large potential market, which he believes should be exploited for national growth.
