LAHORE, April 16: Prime Minister Syed Yusuf Raza Gilani has said that the government machinery will serve as a facilitator rather than a ‘regulator’ and that all barriers in the way of economic growth will be removed.

“We will not allow the pace of economic growth to be impeded, and are determined to facilitate the private sector in this connection,” he said while addressing a seminar on “Economic freedom -- a stimulator in achieving business excellence in South Asia”.

The seminar was organised by the Saarc Chamber of Commerce and Industry (SCCI) in collaboration with the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), supported by Friedrich Naumani Stiftung (FNS).

Punjab Governor Lt Gen (retd) Khalid Maqbool, SCCI president Tariq Sayeed, FPCCI president Tanvir Ahmed Sheikh, resident representative FNS, Peter Andreas Bochman, and leading businessmen attended the seminar.

The prime minister said that the Saarc was at a crucial crossroads, although it has achieved much, but certainly has the potential to achieve much more.

He said that the strengths and weaknesses of Saarc need to be analysed, and member nations should convert debate and deliberations into concrete action in order to meet the enormous challenges of the fast changing 21st century.

He said that the member nations of Saarc had a collective responsibility to demonstrate the courage, commitment and foresight to transform South Asia into a progressive, peaceful and prosperous region.

A paradigm shift in thinking and attitude, as a whole, will be required to achieve this objective, which is the sincere and earnest desire of all member states, he added.

He expressed confidence that the South Asian business community had the determination and the imagination to ensure such a transformation that could help achieve the noble objectives for which Saarc was created.

Pakistan is privileged to be the current leader of the Saarc business community, he said, adding that it is both an honour as well as a challenge.

“I am sure that the chamber under the dynamic leadership of Tariq Sayeed and his capable team will add a new chapter in the history of Saarc. This can be done by enhancing economic cooperation and forging new alliances to tap the full potential of the member countries,” he said.

The prime minister said that islands of affluence and centres of excellence existed in different parts of South Asia, and there was a need to harness the potential of these centres.

Saarc has succeeded in developing and elaborating a framework for regional cooperation, he said, adding that from small beginnings, confined to technical cooperation, the body is advancing towards agreements and decisions for substantive interaction.—APP