Noureen Chaudry/ My Country
LAHORE:Pakistan Furniture Council (PFC) Chief Executive Officer Mian Kashif Ashfaq said on Sunday that Pakistan, grappling with economic challenges, could learn from China’s experience by prioritizing quality over quantity in its growth strategies.
Talking to a delegation of leading architects led by Mohsin Ali Mughal here, he added that investing in human capital, enhancing technological capabilities, and promoting industrial modernization were crucial steps. He said strengthening governance and implementing effective regulatory frameworks could attract foreign investment and foster a business-friendly environment.
Pakistan could benefit from adopting sustainable practices in its energy and infrastructure sectors, mirroring China’s green growth initiatives. By focusing on innovation, education,and sustainable development, Pakistan could create a resilient economy capable of withstanding global challenges, he maintained. Collaboration with China through initiatives like the China-Pakistan Economic Corridor (CPEC) could further accelerate Pakistan’s economic transformation, helping it reach new heights in economic growth and development.
On this occasion, Mohsin Ali Mughal said China’s shift to a quality growth model offers valuable lessons for Pakistan as it seeks to elevate its economy.
Over the decades, China transitioned from rapid, quantity-focused growth to a more sustainable and inclusive development strategy. This model emphasizes innovation, technology, and green growth, aiming to boost productivity and improve living standards. The focus on high-quality infrastructure, advanced manufacturing, and digital economy had allowed China to maintain robust economic growth while addressing environmental concerns and reducing inequality, he added.
