 Welcome back to corporate governance and we are moving forward. We were talking about the different stakeholders, their perspectives, their anomalies, their opportunities, their different aspects and dimensions which influence corporate governance and how corporate governance tends to influence all of the stakeholders. We are moving a little bit ahead and a very important topic is corporate governance and the economy. Now the economy is directly and indirectly related to corporate governance. What we see is that through better corporate governance, the economy tends to grow in a better way. It becomes more predictable, it becomes more sustainable and it becomes more growth oriented. Another thing is that with the stronger economy, the organizations also tend to grow and it becomes interrelated with each other that the organizations are growing and the economy is growing with better corporate governance. Now when we look at the economy of Pakistan, then Pakistan is listed as the next 11 emerging economies in the 21st century. We have immense potential and there are so many segments and so many areas which have not been looked at and we have been basically more oriented towards our economy, towards our textile economy and we have not looked at the new avenues which tend to exist. One of them is tourism. I mean like a country like Malaysia which has a tourism industry of nearly 30 billion. Pakistan can go even far beyond because we have so many historical sites. We have so much of variation. We have the Hindu Kush, we have the Himalayas, we have the Karakoram, we have a huge coastal line, we have four provinces, we have all four weathers. We have a very good infrastructure, one of the best motorway infrastructures in the world, one of the most comprehensive telecom systems in the world and besides that we have a huge population and a very educated population which is English speaking. So just an example is that we can look at the tourism industry but again there is a great need to institutionalize these new industries to ensure that proper practices are over there, that SOPs are followed, that operational manuals are over there, that financial manuals are over there and that financial practices are done in the right way, that would ensure and ensue more confidence in the investors and also in the people who want to be involved in that particular industry. And another thing that we can see is that the industrial sector of Pakistan basically contributes to 20% of the GDP. Manufacturing is the most vibrant sub-sector of the industrial sector having a contribution of 64.8% and in GDP it accounts for 13.6%. So again we also have a vibrant industry but it can go far more beyond because there is so much potential and there are so much opportunities which have not been looked at properly and there is so much of unbridled manpower which can be streamlined into all of this and the whole economy can improve to a better governance mechanism. Now when we look at SMEs to then small and medium enterprises contribute to 90% of all our enterprises in Pakistan and employ almost 80% of the total non-agriculture labour. The IT industry has a huge potential in Pakistan. The number of IT companies has increased to over 1300 and the estimated size of the IT industry is now 2.8 billion but the potential is more than 50 billion. So again we are under utilizing these sectors and these sectors can only improve if the corporate governance structure improves so that all the stakeholders have more confidence and can contribute and invest in a better way and also take those services. Now companies like the IT sector can go around the world. They can serve any company in the world. They can serve the largest companies in the world but those companies must have the surety that there are proper institutional frameworks within those organizations and within that sector which can also protect their rights and their needs and their requirements and that would create a colossal effect which would have a very positive effect on the industry as a whole and that again is the role of the corporate sector. Pakistan's textiles contribute for 70% but again we have lost a lot of the market. A lot of value added market has gone to Bangladesh and there is a great need that we produce the best cotton in the world and therefore we should be actually having value added products treating our own brands which can sell at premium prices which would further again ensure that we have a better foreign exchange inflow which would lead to a better economy as a whole. So all of these things are very very important. We have textiles which has to be value added and upscaled to new horizons and also brand management. We have the IT sector which can go up to 50 billion dollars plus because of the fact that we have an English speaking population and a university population which can greatly contribute to that and can spread across the whole world getting orders for Pakistan and we can also house different multinational companies. Then we have the tourism sector which has a huge potential and we can source into it through institutionalization and through frameworks and ensuring that there is corporate governance in that where by hundreds and thousands of people can come to Pakistan and explore Pakistan and the beauty of Pakistan and the historical context and the religious context of Pakistan. And then we also have our own classical conventional industry which needs to be further improved and enhanced and also replicated and there has to be modernization of all of that whereby efficiency and effectiveness can be augmented and the exports and also the local industry can work hand in hand in tandem together. And what we have to do is that we have to do away with our alliance on imports and focus more on exports and self-sustainability and self-reliance which would strengthen our economy in a far better way. Now all of this can be achieved to corporate governance and that is the importance of corporate governance ladies and gentlemen. Thank you so much. Take care.