LAHORE: Umar Rehman Malik, the Digital Media Head of the Pakistan Peoples’ Party in Islamabad, stated that whichever government is elected after the general elections will be required to adopt and enforce strict economic measures as stipulated in the agreement with the International Monetary Fund.
While speaking to Business Recorder, Umar Rehman Malik stated that if the PPP comes into power after the February 8, 2024, elections, they will make every effort to implement economic reforms outlined in the PPP manifesto announced by Bilawal Bhutto Zardari, with the aim of reducing reliance on the IMF.
Malik underscored the urgency of restoring confidence among local investors before seeking foreign investment, citing concerns over the business environment, law and order situation, and currency stability. He pointed out the alarming rate at which capital is leaving the country due to prevailing conditions, stressing the need for indigenous investment to spur economic growth.
Chairman Bilawal Bhutto Zardari’s manifesto promises an industrial and agricultural revolution, reflecting the PPP’s focus on tangible development initiatives.
Malik also referenced the concept of public-private partnership (PPP), originally championed by former Prime Minister Mohterma Benazir Bhutto, as a pivotal strategy for development, emphasizing its benefits for both the public and private sectors.
Highlighting successful PPP projects in Sindh, including infrastructure developments and coal-mining ventures, Malik emphasized the province’s recognition by the International Intelligence Unit of The Economist.
Looking ahead, Malik outlined plans to expand PPP projects nationwide, particularly in sectors such as health, education, agriculture, transport, energy, irrigation, and infrastructure.
He stressed the importance of digitization across all sectors, citing the significant role of Information and Communication Technology (ICT) in driving economic growth, enhancing productivity, and attracting foreign investment.
Acknowledging challenges in Foreign Direct Investment (FDI), Malik attributed obstacles to political instability, security concerns, infrastructure deficits, and legal inefficiencies, calling for concerted efforts to address these issues.
Despite these challenges, Malik expressed optimism about Pakistan’s growth potential, emphasizing the need for fair and transparent policies to foster a conducive business environment for investors.
In conclusion, Malik underscored the imperative for Pakistan to prioritize business-friendly policies and environments to spur growth and development.
Copyright Business Recorder, 2024
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