Urges international exhibition companies to be part of Pakistan’s growing economy by launching new events here

Karachi, December 05: First Vice Chairman UFI Asia Pacific from Pakistan and Senior Vice Chairman, FPCCI Standing Committee on Foreign Affairs Saleem Khan Tanoli urged international exhibition companies to be part of Pakistan’s growing economy by launching new events here.

UFI should also look at Pakistan as potential growing market for exhibition industry. Meeting between local and international exhibition companies and, with government bodies can also be arranged which can open more options for collaboration and government support, he stressed.

This he said during his presentation while he represented Asia Pacific especially Pakistan in a 4-day congress held in Johannesburg to explore business opportunities in different countries of world in various sectors especially of exhibitions.

Saleem Khan Tanoli who is CEO FAKT Exhibitions as well, one of leading exhibitions, conferences and event Management Company in Pakistan, paid a week-long visit to Johannesburg and portrayed a brilliant picture of vibrant and fast growing Pakistan at the august international forum. Congress was largely attended by more than 650 delegates from 80 countries.

Saleem Khan Tanoli briefly discussed exhibition industry of Pakistan with the audience and told that in three international exhibition centers available in Karachi, Lahore and Pak-China Friendship Centre Islamabad, over 100 exhibitions takes place every year. Over 150 conferences takes place every year related to different sectors. Three major local exhibitions and three major conference companies are operating in Pakistan, he informed.

Plastic, printing, packaging, information technology, textile, food technology, construction, oil and gas are currently popular exhibition sectors while potential new sectors include transport, logistics & material handling, cleaning & waste management, facilities management, healthcare, smart city, travel & hospitality, retail, education, banking and finance, he explored.

At the event, Saleem Khan Tanoli delivered a presentation and apprised the gathering about growing economy and GDP of Pakistan. Pakistan was third in the world with 5.8 GDP growth rate just after China and India, he informed.

Sharing reported facts with international community about Pakistan’s economy, he told that Pakistan is now $300 billion economy. Pakistan has achieved GDP of 5.3% and has finally attained the economic pace it had before the crisis hit the country in 2008. Almost two-thirds of the growth came from service sector. Agriculture sector grew at pace of 3.5%, equivalent to the annual target, services sector grew by almost 6% against the target of 5.7 percent, he mentioned quoting Pakistan’s media reports.

Saleem Khan Tanoli referred to World Bank prediction that Pakistan’s economy will grow by 5.5 percent in 2018, which itself is big news. According to latest study by Harvard University, Pakistan will be able to surpass China’s economic growth in next twenty year and due to CPEC investors from different countries are also investing in the country, facilitating business sectors to grow, he hoped.

As first Vice Chairman UFI Asia Pacific explored top five sectors in Pakistan’ economy saying the textile industry is considered as the backbone of country’s economy. Garments produced in the country have big demand overseas. The textile industry accounts almost 57% of the country overall exports. Chemicals and Fertilizers industries in the Pakistan have shown remarkable growth in recent times with industries like ICI Pakistan, Fauji Fertilizer, and Engro Fertilizers performing well in both local and international platforms. The sector is growing in the country attaining good and profitable growth in the process.

Energy and Petroleum sector of the country is booming as the need for more energy in the country is growing rapidly. According to some reports, the need for energy will surpass 50,000 MW by 2025. So, one can assume that the sector will grow even further and play a vital role in country’s economy. FMCG or fast moving consumer goods is a big industry in the country and has always attained huge profits. Due to the rise of consumerism locally the FMCG industry is thriving at a very good pace. Just recently Pakistan’s per capita income rises to $1,629 from $1,531, he opined. Automotive is not big industry when comparing to above-mentioned industries. However, for the past few years, this industry has shown remarkable growth. As the need for transportation in the country is rising so as the Industry, he quoted statistics from Pakistan Stock Exchange.

He also touched topic of China Pakistan Economic Corridor (CPEC) and told that it is a framework of regional connectivity. CPEC will not only benefit China and Pakistan but will have positive impact on Iran, Afghanistan, India, Central Asian Republic, and the region. The enhancement of geographical linkages have improved road, rail and, air transportation system with frequent and free exchanges of growth and people to people contact. China Pakistan Economic Corridor is a journey towards economic regionalization in the globalized world. It founded peace, development, and win-win model for all having key projects including Gwadar Port & City, roadway, railways, energy, agriculture, science and technology sectors.