Imran promises pro-industry policies

Assures industrialists govt’s full backing, facilitation

By: News Desk      Published: 05:52 PM, 18 Nov, 2020
Imran promises pro-industry policies

Prime Minister Imran Khan on Wednesday promised the industrialists of Faisalabad pro-industry policies, saying the industrialization to pace up economic activity aimed at enhancing employment rate and wealth creation in the country, reported 24NewsHD TV channel.

Imran Khan said: “When PTI came into power there were more than $20 billion trade deficit and imagine then how could a country deal with such a huge trade deficit.”

Addressing a group of industrialists and traders in Faisalabad, Imran Khan also thanked the “friendly countries” that helped Pakistan in difficult times. “One should always do analysis for a better future learning from past mistakes. Pakistan should have followed China's model to alleviate poverty from the country. Those societies go forward that promote investment, legal profit and profiteering.”

“Our government is working round the clock only for ease of doing business for jobs and wealth creation,” he added.

The Prime Minister also appreciated his economic team, planning team, State Bank of Pakistan and National Command and Control Center (NCOC) for providing maximum facilitation to textile and other business sectors amid the coronavirus.

“I visited Faisalabad before the 2018 general elections at a time when powerlooms were closing. But now I have been told that there is a shortage of skilled labourers in Faisalabad. For that I have asked the Punjab government to prepare textile skilled labour that will become a value-added for Faisalabad industry.”

“This is the only government that will solve your problems and provide you with stability,” the Prime minister said.

The Prime Minister said irrespective of which city voted for PTI, the government is ready to launch pro-industry policies for Faisalabad and for Karachi. The PM requested traders and industrialists to increase salaries of labourers once their profit also increased with the passage of time.

Imran Khan said the government is going to introduce a local government system on a model in which LGs govern themselves like it is being implemented in the rest of the world.

Imran urged the businessmen and exporters to invest freely in the country with no worry for any policy shift or bottlenecks as the government was fully focused at reviving industrialization through maximum facilitation. “Invest more on exports without worry. The government will resolve all of your issues. You should not be afraid of any policy shift to affect your investment. Our job is your facilitation, which will lead to creation of wealth and jobs,” he said.

He said it was pleasing that the industries and powerlooms were running at full capacity which even created shortage of textile labour. He said if Faisalabad, once known as Pakistan’s Manchester, kept up its current pace of industrial development, it would even leave Manchester behind.

Imran recalled that the government inherited a record debt burden, $20 billion current account deficit, $40 billion trade deficit, devalued currency, and the reserves at the lowest ebb. The country was even short of money to make international payments but the government successfully passed through the difficult phase courtesy the timely support by the friendly states saving it from default, he added.

He said since 1960s, Pakistan’s industrial model institutions like hospitals and universities used to be idolized but it took a downturn following the then government’s policy of nationalization.

Instead of introducing nationalization, the government should have done legislation to channelize into the national economy the money which had been accumulated within few families, he added.

Rs13 billion package

Punjab Chief Minister Sardar Usman Buzdar also announced Rs13 billion package for Faisalabad including uplifting of infrastructure.

Minister for Industries and Production Hammad Azhar, Planning Minister Asad Umar and Punjab Governor Chaudhry Sarwar also attended the ceremony, besides a limited number of businessmen, exporters and industrialists owing to anti-COIVD19 precautions.