KARACHI (APP) - The national conference on the impact of global /US financial crisis in Pakistan concluded here Saturday. The speakers from a cross section of sectors, government organizations, financial institutions, trade bodies and media concluded that Pakistan could not avert the current global financial crisis but could exercise restraint and prudence in facing the difficult times ahead. The conference began with welcome remarks by Menin Rodrigues, CEO and President of Shamrock Communications, who gave an overview of the purpose of the conference and the factors necessitating this interactive forum, particularly the fear of the financial problem turning into a human tragedy. The inaugural session proceeded with an enlightening keynote by Professor Dr Abdul Wahab, President of Mohammad Ali Jinnah University, who was of the opinion that Pakistan's past economic performance and inadequate financial discipline, have made it difficult to pass through the crisis with minimum damage, unless, we immediately adopt and demonstrate immaculate financial discipline during the next few years. Syed Ali Raza, Chairman, President and CEO of National Bank of Pakistan, was focused more on the big opportunities inherent in the crisis, he stated; with the reduced attractiveness of USA and European economies as the investors' paradise. We should be confident, that the surrounding countries of Pakistan will become the favorite region for investors and bring big benefits for our economy too. He also stated that the country's banking system was strong and resilient to the challenges of the time; and informed the participants how the bank had predicted the current financial crunch early in 2007. The first session on 'Policy Framework and Investment Crunch' included presentations by Ehsan Elahi-SVP and Head of Research, National Bank of Pakistan, and Mir Mohammad Ali, CEO, UBL Funds Management. The speakers highlighted the methods being used for economic stability by the government and how it could be better regulated for desired results. In the session on 'Roller Coaster Markets' the Associate Director, BMA Capital, Sajjad Mankani, and Adnan Afaq, MD, PACRA, spoke about the highly volatile market trends of the recent months, and the impact on Pakistan's economy. They also suggested ways to capitalize on the changing trends in the market. The session on "The Global/US fallout" chaired by Salman Burney, President & CEO of Glaxo-Smith-Kline included presentations by Nadeem Lodhi, MD Capital Markets and Syn, DIB Capital, Dubai UAE., who highlighted the impact of this crisis with a regional and international perspective. Arif Elahi, Director General, Board of Investments (BOI), gave a very candid and positive analysis of the economic progress made by Pakistan, and bright chances of Pakistan successfully averting the impending crisis. A session on "Dollarization of Pakistan" was chaired by Tariq Ikram, who gave encouraging remarks about the capability and potential of our nation to quickly multiply our export trade. Anjum Nisar, President Karachi Chamber of Commerce, urged the business community to develop new export markets besides the US. The other speaker Syed Javed Hasan, Chief Executive Officer, IGI Funds, stressed the need for improving our financial discipline on both, individual and Government levels, and stressed the understanding that the crisis was not a short-term problem but one that could last longer. The session on "Responsibility of Media" was chaired by Barrister Shahida Jamil, who asked the media to be positively honest with the nation. Arshad Zuberi, Chief Executive and Editor of Local English Newspaper while reiterating the issues which have led the country into financial problems asked the educated class of Pakistan, to assist in educating and training the illiterate masses, in order to make them understand the economic issues faced by the country. Imran Aslam, President, private TV channel, eloquently highlighted the media's relentless role in pursuing the realities of several issues before us and bringing it to the ears and eyes of people in all parts of the country; he also emphasized the need for training the media in subjects which can help reporters do their jobs better. The day-long conference culminated with a summary of the day's proceedings by Saquib Mohyuddin and a vote of thanks by Mr. Menin Rodrigues, the convener of the conference.