Published On: Tue, Dec 31st, 2013
Published in Category: Lahore

PIAF sees 2014 year of economic revival

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LAHORE: Pakistan Industrial and Traders Associations Front (PIAF) has hoped that the year 2014 would prove an year of economic revival. According to a PIAF report, GSP Plus Status, work on hydle power projects, incentives to the businessmen through withdrawal of harsh budgetary measures and government resolve to strengthen public-private sectors consultation had already laid the foundation for putting the economy back on rails.

The PIAF report said that the previous government failure to take appropriate measures to overcome the economic challenges and to control law and order situation had pushed the country to the wall. Negative sentiments not only discouraged the local investors but the foreign investments also remained alarmingly low.

“Had the previous government give a little attention to the on law and order situation, the economic situation would have been far better what it is today.”

The PIAF Chairman Malik Tahir Javaid said that an objective review of the outgoing year would reveal a sorry tail of mismanagement as the gas connections were given on political grounds instead of giving priority to the manufacturing sector.

He said that the feel good factor since the present government has assumed the charge has given new hope to the businessmen.

Malik Tahir Javaid said that winning the GSP Plus Status and government focus on power projects would help bring much needed Direct Foreign Investment besides bringing down the graph of unemployment that has gone up to considerable level.

He said that the government has adopted a right approach by attaching priority to the economy issues as once the businesses are on track no external force would be able to impose dictations.

The PIAF Chairman said that what was needed now is the early construction of water reservoirs including Kalabagh Dam therefore government should untilise all its energies to ensure building of Kalabagh Dam to cut the fast galloping cost of doing business in Pakistan.

He also hoped that the government would focus on Public Sector Enterprises that are eating up huge revenues without any considerable return.

He said that transparent privatization of loss-making Public Sector Enterprises (PSEs) and appointment of Competent Professional Managers in under performed institutions was a long standing demand of the private sector as it would help bring in much-needed foreign investment.

Malik Tahir Javaid said that restructuring of trade and industry related government institutions and decision to end SRO culture would help bridge Public Private Sector trust deficit.