Elahi stresses consensus about drafting national economic policy

Chaudhry Pervaiz Elahi, Senior Federal Minister for Industries and Defence Production, has underlined the need of developing national consensus for drafting a national economic policy. Speaking at a dinner hosted by renowned industrialist Muhammad Bashir Jan Muhammad at a local hotel here on Wednesday, he urged all political parties to join hands for making a 10-year national economic policy to revive country's ailing economy.
He said it was the need of the hour to develop national consensus for drafting such a policy, which should be followed irrespective of which party was in power.
Criticising the policies of Chief Minister Punjab Shahbaz Sharif, he said that the incumbent Punjab government had nullified all the projects initiated during his tenure. He said the project of education centre, which had provided free education to 64000 poor children and minimized the illiteracy rate to 43 percent, has been rolled back that led to increase in illiteracy rate to 64 percent. Moreover, he said, this project was also appreciated by World Bank, which sanctioned a loan of $500 million at a nominal markup of 0.5 percent for five years. He said the foreign investment of $700 million, which was came to Punjab during his tenure, has now returned because of unfriendly policies of the present provincial government.
He said the Punjab exchequer had Rs100 billion during his tenure and now it was running in deficit of Rs400 million. Elahi also urged the industry to assist the government in drafting industrial policy. He assured the business community of taking them on board in budget making process.
Earlier, Bashir Jan Muhammad in his welcome address suggested the senior minister to establish Facilitation Centre like Malaysia and other countries to provide assistance to new industrialists. He expressed concerns over high inflation rate, saying that the government should grant subsidies on food items in next budget with the aim to provide maximum relief to the common man.
Dispelling the impression of capital flight from Pakistan, he lauded the struggles of business community for the revival of country's economy. He said that the business fraternity despite confronting stiff economic, energy and law and order challenges was investing in Pakistan for the revival of economy.
He also recommended to the Minister for Industries and Defence Production to make efforts for friendly industrial policies in coming budget. A large number of industrialists and businessmen were present on the occasion.