June 23, 2007	Saturday	Jamadi-us-Sani 07, 1428

QUETTA, June 22: The Balochistan government has been urged to find out new and dependable sources of income generation to cut its reliance on federal divisible pool and grants for smooth running of its financial affairs.

The severe financial constraints should be an eye-opener for economic managers of the province and they should come up with a sound and strong economic strategy making it self-reliant for meeting all its financial needs.

Balochistan Economic Forum (BEF) President Sardar Shaukat Aziz Popalzai observed this while talking to newsmen here on Friday and said that in view of shrinking revenue collection of the federal government, the Balochistan government would have to find some alternate sources of income to meet its growing need of socio-economic development.

“The provincial government should widen its revenue base by encouraging foreign direct investments and seeking the international economic aid agencies and multilateral institution’s support for the socio-economic development with the cooperation of the federal government,” Sardar Popalzai suggested.

He further said that the political leadership should also make efforts to remove economic disparity in the province. “Foreign investments in the industrial and mining sectors may open new avenues of the development and prosperity.”

He said that the foreign investors would happily put in their money here provided they were reciprocated with the same business-like cooperation based on good bargains and prudent investments.

The BEF president pointed out that the incentives offered to encourage industrialisation in the past did not give desired results because the industrialists in Balochistan rolled off their unit when the period of relief was over.

“The government should mobilise all its energies and resources to speed up the industrialisation process in order to cope with the existing economic problems,” he added.

He was of the view that active and aggressive private sector development was very essential for economic uplift of the province. “Urgent measures are needed for the exploitation of natural resources to boost industrial activities as any further delay will add to economic problems of the province”.

He said that the investment scenario was improving as foreign investors were taking keen interest in exploitation of abundant opportunities in mineral, fisheries, agriculture and livestock sectors.