KARACHI, June 12: The privatisation programme has resulted in en-mass retrenchment and closure of a big number of industries in the country. This was stated by Dr Qaiser Bengali while addressing the weekly lecture programme on ‘Unemployment problem in Pakistan and its solutions’ under the auspices of the Pakistan People’s Party at here on Monday. Leader of opposition in the Sindh Assembly Nisar Ahmed Khuhro presided over the event.

Dr Bengali said vital national assets were being handed over to foreign companies under the privatisation programme to bridge the country’s yawning trade deficit with other countries. “Our foreign exchange reserves have been unchanged for many years. Very soon, there will be nothing left with us to sell and pay off the huge import bill.”

According to him, the country’s development budget during the tenure of Zulfiqar Ali Bhutto had increased by a record average of 21.5 per cent annually. His last few years of rule was the only period in the history of Pakistan that the development budget was at higher side than the non-development budget. During the Zia era, the average of development budget came down to a mere 2.7 per cent in spite of the huge foreign aid received by the country on a regular basis.

The present military rulers have restored to transferring year after year almost 40 per cent of their declared development outlays to the non-development expenditure.

Dr Bengali pointed out that GDP could be increased either by increasing profits or wages, besides creating more employment opportunities.

Military dictators have always taken economic measures with a view to increase profits for a handful of people because they are not answerable to public.

Elected governments have to adopt the other course, i.e. increasing wages and creating new employment opportunities, he said.

The present so-called economic growth is restricted to high increases in profits made in specific sectors, like banking, automobile production, oil and gas, etc., and none of them would contribute to creating new employment opportunities.

Dr Bengali felt that a future people’s government should take up a housing programme for the poor on war-footings to provide a quick boost to the national economy.

Similarly, large outlays for public works programme, building rural infrastructure, improving irrigation network, and the much-needed allocations for social sectors could provide new and immediate opportunities to the backward sections of society which suffer the real poverty. This will also push up GDP, exports and earnings.

Dr Bengali was of the view that the government support to traditional professions, like agriculture, fisheries, animal husbandry, dairy farming, etc., should be accorded priority to increase income and move towards self-sufficiency.—PPI

Our reporter adds: Opening the first lecture of the programme, PPP leader Nisar Ahmed Khuhro emphasised the need for organising high-level political manoeuvring to oust dictatorship for good for heralding an era of representative governments which could address to the real issues like employment, increase in wages, self-sufficiency, education and health facilities and poverty alleviation.