He said this while speaking at the Brands of the Year Awards-2008 distribution ceremony here.

The prime minister said that dire need of the hour was to work collectively for harnessing the untapped natural potential at a fast pace in order to put “our country on the track of progress and prosperity”.

It is the prime responsibility of the commerce and trade community to work hard aiming at to provide quality products to the global trade markets and it would help the government to achieve its export targets. He said that the country was facing numerous internal and external challenges – the most crucial is the menace of terrorism and extremism, which is impeding flow of foreign investment and progress and prosperity of the people.

He also assured that the government will provide all technical and legal assistance for establishing a Brand University and maintained that the brand vision, through the joint contribution of public and private organisations, bring in Intellectual Property Organisation of Pakistan (IPO), Pakistan Standards and Quality Control Authority (PSQCA) and the Exhibitor Pakistan together, which made it possible for successful launch and execution of this activity.

In today’s world, the prime minister said, the economic survival of a nation depends on quality of its brands. Branded products play an important role to ensure that the country’s economy is constantly progressing.

The stable economy of the developed nations is based on their internationally reputed brands, which not only provide a healthy competition in the market but also add to the export brand equity value internationally.

Tariq Saeed, the chairman Pakistan Brand Council, in his speech highlighted the importance of brands in the modern economic world. Governor Sindh Dr Ishrat ul Ebad, Chief Minister Syed Qaim Ali Shah were also present at the ceremony.