President calls for streamlining banking, insurance sectors in economic interest

Islamabad: President Dr Arif Alvi has called for streamlining Banking and insurance sectors in the economic interest of the country.

Addressing a seminar in Karachi on Wednesday, he said that the country could be steered on the path of progress by following the teachings of Quaid-e-Azam Muhammad Ali Jinnah and adhering to the constitution.

He said the only way to strengthen democracy is to follow the constitution.

The President said increase in imports has affected balance of payments and urged to focus on increasing exports to bring national economy on right track.

Dr Arif Alvi said resources all over the world have become limited therefore the world is now depending on recycling items.

He said flow of the money is in the interest of economy and both the banking and insurance sectors can play an important role in this regard.

He stressed upon the need of carrying out insurance of crops so that losses to the agriculture sector in recent flood like calamities could be compensated in a better way.

Dr Arif Ali said there is need of fully tapping human resources potential of the country by educating and developing its skills.