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Private Property Rights Protection and bases of Entrepreneurship

A seminar was organized in Pakistan's oldest and most prestigious public sector university's Department of Economics in the University of Peshawar Pakistan on May 12, 2015.The topic of the seminar was 'Entrepreneurship and bases of economic reforms'. Danyal Khan student of BS Economics works as coordinator for this seminar. Dr Raza Ullah, Alternate Solutions Institute was the guest speaker.

A seminar was organized in Pakistan's oldest and most prestigious public sector university's Department of Economics in the University of Peshawar Pakistan on May 12, 2015.The topic of the seminar was 'Entrepreneurship and bases of economic reforms'. Danyal Khan student of BS Economics works as coordinator for this seminar. Dr Raza Ullah, Alternate Solutions Institute was the guest speaker. University of Peshawar administration has currently allowed university's departments to organize seminars and extra-curricular activities in campus after the sad event of Army Public School in November 2014 where over hundred children were killed in a terror attack. Chairman of the department Professor Dr Muhammad Naeem, Coordinator DrAmjad Ameen Assistant Professor, and all the faculty members of the department and over hundred students from all semesters of the BS and MS programs were present in the seminar. The department has well-organized the event, a student from 7th semester of BS program introduced the speaker and topic to students. Chairman of the department was quite enthusiastic about the seminar as such event was happening after a lapse of over five months. He asked students to remain attentive during the lecture. He said that most of the economics students remained focus on economic theories and models and oblivion of its entrepreneurial aspect. Market is the real place to test such economic ideas. Professor Naeem encouraged students to discuss the bases of entrepreneurship with speaker. Dr Raza Ullah in the opening thanked students, faculty members and chairman to make this event happened and to present ideas imperative for a prospering society. He informed students to make that seminar an interactive through a dialogue to extract ideas for an enterprising society. He asked students about the bases of an enterprising society and why an enterprising society is important and what benefit it offers to people. Dr Raza narrated his intellectual journey to this point in a think tank. He told to the students that his pursuit to know the causes of poverty and identify factors contributing to the economic progress in West. He attributed this understanding to the work of Hernando De Soto's book 'The Mystery of Capital'. Speaker discussed importance of economic reforms in promotion of entrepreneurial culture in the country and its contribution in poverty alleviation and employment generation. He shed lights on economic efficiency and business development and the importance of certain economic reforms as a pre-requisite for entrepreneurship. He said that there are certain factors which contribute to the promotion of an environment for economic growth while strong property rights, free trade, de-regulation, limited government and privatization are important for it. Speaker discussed role of these factors in the context of rights and relation between society and state. Students took great interest in the discussion and posed different questions. Most of questions raised the point that in case of privatization many people would become unemployed which itself is a bad thing. Second, students also objected on allowing free trade which would destroy the local industry and damage national economy. They also questioned significance of property rights and its relationship with entrepreneurship. The speaker responded to these questions and explained importance of property rights as a step towards wealth creation for example money could be lent from financial institutions through mortgaging land. Besides, it also equitably distribute parents' wealth among their children as inheritance, while privatization is important as it promotes efficiency and better utilization of resources. Dr Raza ullah ended seminar with thanks to participants and apprised them about the institute new initiative of 'Students for Entrepreneurship and Economic Reforms' and asked students to become members of this national students' movement and promote ideas of liberty, entrepreneurship and economic reforms 

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