Prime Minister Imran Khan Thursday, while calling Pakistan’s improved ranking in ease of doing business a beginning, urged his economic team to make a new start by doing away with the mindset resisting the wealth creation in the country.
Addressing ‘Doing Business Reforms Exhibition’ held by the Board of Investment (BoI), he said the future belonged to the wealth creation enabling any government to collect more taxes and spend on public welfare.
The prime minister congratulated his economic team and all other stakeholders on celebration of Pakistan’s 28-point jump in World Bank’s ranking of countries regarding ease of doing business. However, he said the celebration had been spoiled by the tragic train accident in Rahim Yar Khan and prayed for peace of the deceased souls and strength for the victim families to bear the loss.
The ceremony was also attended by World Bank Group President David Malpass, Chief Minister Sindh Syed Murad Ali Shah, federal ministers, Chairman of BoI Zubair Gilani and Acting British High Commissioner Richard Crowder. The event also marked the launch of BoI’s new website www.invest.gov.pk introducing more interactive features to facilitate the investors to launch their businesses.
Giving a historical perspective of the national economy, the prime minister said the country had been doing well till 1970s when the then government started nationalization of the industries which badly damaged the economy coupled with the bureaucratic mindset considering the wealth creation a sin. He said unfortunately the very mindset persisted even today which needed to be done away to make a start with a new mindset. He said the government had managed to reduce the current account deficit and was striving to address the trade deficit by promoting the export-driven economy.
The prime minister said the government wanted industrialization and alleviate poverty through more tax collection and spending to uplift the people’s living standards.
Price hike
Separately, Imran Khan directed a comprehensive planning with all necessary administrative measures to control price hike and make ensure availability of essential edible commodities.
He also directed to continuously monitor the prices of wheat and flour, and further improve coordination among the provinces in that regard.
The prime minister issued the directives while chairing a meeting to review steps taken to control prices of essential edible items, particularly wheat and flour.
The meeting expressed satisfaction over the decision of Economic Coordination Committee (ECC) to release 6.5 lac ton wheat from the stocks of Pakistan Agricultural Storage & Supplies Corporation (PAASCO) to the provinces. It was noted that the step would help control prices of wheat and flour in the country.
The prime minister was informed that the government’s recent steps had impacted the prices of wheat and flour and the ECC decision would further improve the situation. He was briefed about the prices of various essential commodities. Imran Khan said special focus must be given to check the prices of items in wholesale and retail markets so that profiteering and hoarding should be discouraged.
The prime minister was told that the Islamabad Capital Territory administration had launched a smart phone application that allows citizens to check the official prices of household items and lodge complaints against the price hike, and steps were being taken with the consultation of provinces to implement the system in other big cities. Punjab Information Minister apprised the prime minister that the process to establish Price Control Authority in the province was underway while various steps were being considered to keep the market committees viable for checking profiteering and hoarding.
The prime minister was also informed about progress on the implementation of government’s decision regarding axel load. Imran Khan said the decision of suspending axle load condition for one year was aimed at facilitating the business community, besides controlling prices of essential edible items.
The prime minister directed his advisor on trade to ensure that the benefits of the decision must go to the people.
Business community
Meanwhile, Imran Khan said the government was determined to provide all possible facilities to the business community and promotion of industries and creating opportunities of wealth creation were the topmost priority.
He was chairing a meeting regarding promotion of industries and production, particularly ratio of tariff on imports, effects of the present tariff on industries and imports and the steps taken to bring further improvement in tariff system. The meeting reviewed the steps taken about present system of tariff and to bring further improvement in it. The prime minister was presented a comprehensive policy about making the tariff system according to requirements of the business community.
Welcoming the various steps taken about tariff system, the prime minister said, these steps would not only remove problems of the business community but provide them opportunities of ease of doing business.
