Country needs to invest in infrastructure

ISLAMABAD: The country needs huge investments in the infrastructure development sector to promote business activities.

"Lack of infrastructure has been a big hurdle in the economic progress of the country putting strains on smooth growth of trade and industrial activities. Therefore, the government should involve private sector by moving to public-private partnership paradigm for developing the country's infrastructure at a fast pace", Mahfooz Elahi, President Islamabad Chamber of Commerce and Industry (ICCI) said in a statement issued here on Thursday.

He said investment in infrastructure development has proven to be successful model for reviving economies in the world, but Pakistan could not sustain its growth over time mainly due to lack of supporting infrastructure.

He said the country needs massive supporting infrastructure to absorb, support and sustain increase in growth.

The ICCI President said Pakistan has a large canal system for agriculture but lack of adopting new management practices and latest technology into this system has resulted in low growth of crops.

Elahi said proper development of infrastructure would help to meet much of local demands like energy, clean drinking water, sanitation facilities, and transportation and communication system in addition to creating many job opportunities. Apart from that it would generate demand for more raw materials which in return will make more income for local businesses.

He stressed for the need of involving private sector and exploiting its potential for developing infrastructure in all sectors of the economy as these projects are quite expensive and partnership with private sector will enhance pace of execution of these projects.

Copyright APP (Associated Press of Pakistan), 2011