According to a Business Recorder report, President Asif Ali Zardari has asked country's finance team led by Finance Minister Dr Hafeez Sheikh to consider the feasibility of floating infrastructure bonds for raising equity for building infrastructure projects. According to him, the country is required to build massive infrastructure projects but lacks financial resources for the purpose.
President's decision appears to be a timely step in the right direction mainly because of the facts that the execution of mega projects would create much needed job opportunities for the teeming unemployed millions in the country. Such projects would also help stimulate economic and business activity, leading to push up economic growth rate.
The high population growth in the past few decades has ensured that a very large number of young people are now entering the labour market. Moreover, high inflation and limited wage growth have drawn more women into the workforce to feed their families, in spite of cultural resistance and domestic abuse over the issue. Hence, the need for more job opportunities.
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