LAHORE: Former president Asif Ali Zardari has said Pakistani businessmen along with their capital are moving out of the country only because of ‘insecurity’ despite the fact that they could get a ‘lucrative’ return on investment in Pakistan.

Even Dubai doesn’t offer such a lucrative return, as Pakistani businessmen could get “1000 per cent return” on investment in their own country, the co-chairman of key ruling coalition partner PPP claimed while suggesting the business community to get the charter signed by each political party to steer Pakistan out of financial crisis and stabilise the economy.

This was PPP leadership’s third interaction with businessmen in less than a month, as the ex-president, flanked by Minister for Industries and Production Syed Murtaza Mahmud and Senate standing committee on finance and revenue chairman Saleem Mandviwalla, spoke to members of the All-Pakistan Textile Mills Association (Aptma) on Friday.

Just two weeks ago, Mr Zardari had renewed the call for a charter of economy during his interaction with members of the Lahore Chamber of Commerce and Industry.

Asks businessmen to sign a charter with each political party to help stabilise economy

However, this time he urged the businessmen to get the charter signed by “each political party”, telling them that he had no issue with whichever political party they supported. But, he added, “You should at least sign a certain charter of economy with every political party.”

Recalling that he had also made a similar offer about a national charter of economy to the cricketer (a reference to ex-premier Imran Khan) but he could not understand the real issues of the country, Mr Zardari said the PPP was ready to sign such a charter then and there.

Level-playing field

The PPP co-chairman promised to the textile millers that a level-playing field would be provided to the textile industry.

He also expressed the desire that businessmen should accept portfolios of textile and finance in the cabinet, stating that he wished to see a technical person heading those ministries.

He said he was aware of the issues of the business community and if the same were resolved, they would be able to pay tax to the government. He said his dream of $100 billion exports would materialise with the help of the textile industry.

Fuel for industry

Referring to the re-establishment of diplomatic relations between Saudi Arabia and Iran, the former president said it would help the region and facilitate Islamabad getting cheap LPG from Tehran.

He also vowed that the PPP, if voted to power, would ensure completion of the Pak-Iran gas pipeline besides supporting border trade. “I will bring gas from Iran for the textile industry of Pakistan to reduce its input cost,” he said.

Mr Zardari recalled that when he was head of the state, he had advocated for “trade not aid” during his talks with the European Union.

He said Pakistani entrepreneurs should learn to sell their products in the international markets with the right combo. Referring to Bangla­desh’s advantage of GSP plus status, the PPP co-chairman said 70pc of Indian textile products had the tag of “Made in Bangladesh” and shipped to Europe for sale.

He also suggested provision of quality crop seeds to promote the agriculture sector and help stabilise the agrarian economy.

Published in Dawn, June 24th, 2023