RAWALPINDI: The President, Field Marshal Mohammad Ayub Khan, said today at Fateh Jang that the old concept of capitalism cannot survive as time has changed and the people are now conscious of their rights. He hoped the next generation of Pakistani industrialists would have a better outlook.

The President said that in all developing countries formation of capital was necessary for industrial development and for opening up new employment avenues. Anyhow industrialists should not be allowed to fleece the people and under the new taxation structure a good part of their profit is taken by the Government for national development.

The President said it was necessary that a balance was maintained between the interests of the industrialists, the workers and the consumers.

The President said he was aware that the system of free economy was not the only way of developing the country. Perhaps in a given set of circumstances the country could be developed more rapidly in a socialistic system. But, he said, he was not sure the people of Pakistan would prefer the Communist pattern to a free enterprise system or that they were prepared to pay the price of Communist system of economy.—Correspondent/Agencies

Anti-Pakistan propaganda LONDON: A protest against the series of articles implicating Pakistan and Pakistani nationals in “slave trade,” which have been appearing in the mass circulation Sunday newspaper “News Of The World,” is to be lodged by the Pakistan High Commissioner in Britain.

In its issue of last Sunday, the “News Of The World” (actually a misnomer for news of the British underworld) claimed that two of its reporters had bought a “slave,” one Abdul Wahab, from Sylhet, East Pakistan, for five pounds sterling in the car park of a café along the London-Birmingham motorway.—Correspondent