December 27, 2002	Friday	Shawwal 22, 1423

LAHORE, Dec 26: The ministry of industries is conducting surveys to work out the viability of the ‘unintentionally’ sick industrial units in the public and private sectors to revive and generate economic activity in the country.

This was stated by Federal Minister for Industries Liaqat Jatoi while speaking at a meeting with the members of the Lahore Chamber of Commerce and Industry here on Thursday. He said that only those sick industrial units, which would have the capacity to run and give profit, would be revived. “We do not want to carry along the liabilities,” he said. “The public sector units unable to give profits would be privatized,” he added.

The minister also said that only those public sector projects’ viability would be worked out, which had yet not been placed on the privatization list.

He stressed that it is high time that the country must go for more industrialization and business activity to generate economic activity and create jobs for the ever-increasing unemployed youth in the country. He also said that there is a need to see the viability of more small and medium enterprises projects.

The minister said the previous government’s economic policies would continue. However, he said, new friendly investment and business-oriented policies would also be introduced to expedite the industrialization process in the country. He said that different delays and barriers in speedy industrialization would be removed as they damage the economy of the country. “A good policy is unsuccessful until and unless its fruits will reach to the grassroots level,” he said.

He said the previous government policies had helped to enhance the foreign reserves up to $10bn, rupee became stable and the deficit being controlled.

The minister also stressed that there must be a continuous communication between the government and the business community to resolve problems. He said the industries’ ministry is preparing an investors’ book to inform people about the viable sectors for investment.

He said the ministry would also like to have respective Chamber’s president represented on the Industries’ advisory board. “We will discuss every industry-related issue with the advisory council,” he said.

The minister also asked the LCCI president and members to organize sector-wise meetings to resolve each and every sector’s problems individually.

Responding to a member’s inquiry, he said that the rationalization of tariff is on top of his agenda because the government wanted to facilitate the business community. “Only greater economic activity can ensure better revenue for the government and economic progress of the country,” he said.

He said the government would also support local manufacturing including spare parts.

He said that different industries including the Honda Atlas and Toyota Corolla are the big employers and earning a lot of profit. He stressed that all companies earning profit must share its part with its workers and consumers.

Citing an example, he said the Toyota Corolla changed the model and its sales increased tremendously. He said that he had suggested that they should hold a double shift to meet the increasing demand. He, however, said that the company should not book the orders in bulk or pay mark up to those customers who would not be delivered their cars within two months.

Answering a question, the minister said that he would talk to the Chief Minister to find out a way to allow State land in Pattoki to set up Export Promotion Zone.

The LCCI members told the minister that the land identified for the EPZ at Sunder, Multan Road, could not be procured because a land owner went into litigation because the Punjab government was not paying price at the open market rate.

The minister also assured that he would contact Shaukat and suggest that there should be a uniform policy on SME mark up.