KARACHI, May 22: The Prime Minister, Shaukat Aziz, on Sunday said the role of the government was to facilitate investors, formulate policies and give incentives, while it was up to the private sector to take advantage of these with new ideas and innovations.
Speaking as the chief guest at the ground breaking ceremony of the Sindh Small Industrial Estate (SSIE) at the Governor’s House, the Prime Minister said the government was providing a hassle-free environment to investors in the country.
He asked the provincial government to advise concerned departments to promote self-assessment schemes so that small industrialists faced no difficulty.
He said the small industry created self-employment opportunities, giving women employment while remaining indoors.
Mr Aziz said that every sector had observed a double digit growth, while the country had attained a GDP growth of 8.35 per cent, which was historic. It was only on five occasions in the country’s history that the eight per cent figure was crossed.
He said it seemed that in terms of growth, this year Pakistan would be among the top five countries in Asia.
The Prime Minister said GDP growth was the only indicator of an economy and the international community was expressing happiness over the achievements made by Pakistan there.
He observed that more employment opportunities would be generated in the private sector as a result of the accelerated growth.
Speaking of growth in various sectors, the Prime Minister said production growth in the textile sector had reached 25 per cent, automobiles 30 per cent, electrical appliances 55 per cent and chemicals 15 per cent. While the current year also saw a 7.5 per cent growth in the agriculture sector, which constitutes 26 per cent of the country’s economy.
Mr Aziz said the government was striving to ensure sustained growth in every sector.
He stated that the middle class was developing in the country and with improvement in the education level headway would be made in every sector.
He said liquidity in the market spurred growth and the phenomenon was being witnessed now. “It will have to be kept under control to avoid price hike,” he added.
The Prime Minister pointed out that prices could not be controlled through coercive measures, but steps were being taken to check profiteering.
He said prices stabilised with supply and the government had liberalised imports and waived duties for the purpose.
Mr Aziz said the country would follow Thailand’s model of ‘one village and one product’. The concept had initially emerged in Japan and then was adopted by Thailand, he said, informing that it concentrated on application of local expertise to the product(s) of the particular area.
The countries chief executive said there was a great deal of potential in the ‘one village, one product’ concept. Besides, it would create job opportunities.
He called on provinces to pay due attention towards the aspect, assuring that the federal government would also extend its assistance in this regard.
Mr Aziz said the problem pertaining to shortage of capital could be resolved by focusing on a couple of institutions like the SME Bank, and other micro-finance institutions including the Khushhali Bank and the First Women Bank Ltd.—APP
KARACHI, May 22: The Prime Minister, Shaukat Aziz, on Sunday said the role of the government was to facilitate investors, formulate policies and give incentives, while it was up to the private sector to take advantage of these with new ideas and innovations.
