PM Nawaz urges Muslim World to use its economic potential

  Last Updated On 29 October,2013 About 3 hours ago

Proposes five-point strategy for the development of socio-economic infrastructure in Muslim world.

LONDON (Web Desk) - Prime Minister Nawaz Sharif has emphasized the need to make sustained efforts by the Islamic countries for rapid socio-economic development of their people and contribute towards growth in the world economy.
Addressing the World Islamic Economic Forum in London on Tuesday, He said that there is need to identify factors which are inhibiting growth in Islamic countries and learn from experiences of those who spearheaded journey of development.
Elaborating on his five points‚ Nawaz Sharif said apart from responsible exploitation of our physical resources‚ we also need to focus on human resource development and scientific advancement.
He regretted that today only one percent of the scientific research articles are produced in the Muslim countries as against 90% published by Muslim scientists in Middle Ages.
The prime minister called for quick movement from mere consumption to increased production of economic goods and services.
He said we must transform our natural resource and labour based economy to private sector led and value added economy.
Meanwhile‚ addressing the Forum‚ Afghan President Hamid Karzai said peace in his country is vital for economic development of the region. He invited Muslim countries to invest in Afghanistan.
Crown Prince Salman bin Hamad of Bahrain stressed the need of expansion of economic and trade relations among the Muslim states.