News Column

Businessmen urge govt to facilitate private sector

January 25, 2014

Participants of a consultative workshop here urged the government on Friday to facilitate and empower the private business sector for boosting process of economic revival and growth of the country. ”The government should privatize all the major sectors including energy, transport, ports, steel and banking as the private sector is fully capable of running these organization in a profitable way“, said a representative from All Pakistan Farmers Association . He said that role of the government was to correct its structure and other affairs and provide security and other facilities to the business sectors of the country. The consultative workshop on Economic Revival and Growth was organized by the Planning Commission in which businessmen from across the country participated. Highlighting the importance of private sector, Minister for Planning and Development, Prof. Ahsan Iqbal said the government was making pro-business and pro-private sector policies and in this regard a post of member private sector development is being created to engage the driver of growth and prosperity in the policy making process. The minister said that the government was committed to facilitate and create incentives for the private sector. He stressed the need for taking bold decision to leap forward to enhance country’s export up to $100 a year within 10 years. He said that the Prime Minister asked Planning Commission to put up recommendation with consultation of the business community. A representative from Overseas Chamber of Commerce and Industry said on the occasion that the government needs to make reforms in the country’s taxation system. He said instead of extracting maximum taxes from those who are already paying taxes for years, the government should broaden the tax net by including those sectors and people in the tax net who are not paying taxes. He also asked the government to bridge the trust deficit for foreign investors so that they should come and invest in Pakistan freely. Another representative from Lahore Chamber of Commerce and Industry (LCCI) said that the current structure of economy offer little prospects for higher growth with current infrastructure and policy environment. ”A fundamental change is required not only in the direction of development effort but also in the structure, composition and drivers of economic growth“, he added. Federation of Pakistan Chamber of Commerce and Industry (FPCCI) representative urged the government to develop road and rail connectivity with Iran and Afghanistan through to Turkey and Europe and Central Asia for enhancing trade activities in the country. He said the government should develop friendly relations with all its neighbouring countries.

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Source: Balochistan Times (Pakistan)

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